CareMax Correlations

CMAX Stock

USD 0.72 0.05 7.46%

The current 90-days correlation between CareMax and Agiliti is 0.02 (i.e., Significant diversification). The correlation of CareMax is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

CareMax Correlation With Market

Significant diversification

The correlation between CareMax and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CareMax and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CareMax. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more information on how to buy CareMax Stock please use our How to Invest in CareMax guide.

Moving together with CareMax Stock

0.72	AGL	agilon health	Pair Corr
0.74	AMN	AMN Healthcare Services	Pair Corr
0.68	FORA	Forian Inc	Pair Corr
0.66	EVH	Evolent Health	Pair Corr
0.82	IVP	Inspire Veterinary	Pair Corr
0.61	ADUS	Addus HomeCare	Pair Corr
0.72	BACK	IMAC Holdings	Pair Corr
0.73	CYRX	Cryoport	Pair Corr
0.8	VALN	Valneva SE ADR	Pair Corr

Moving against CareMax Stock

0.53	DOCS	Doximity	Pair Corr
0.43	VMD	Viemed Healthcare	Pair Corr
0.42	ITGR	Integer Holdings Corp	Pair Corr
0.4	FOXO	FOXO Technologies	Pair Corr
0.57	OMIC	Singular Genomics Systems	Pair Corr
0.54	MMSI	Merit Medical Systems	Pair Corr
0.44	NXGLW	NexGel Warrant	Pair Corr
0.4	CRVL	CorVel Corp Normal Trading	Pair Corr
0.35	NXGL	Nexgel Inc	Pair Corr
0.63	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr
0.49	EWTX	Edgewise Therapeutics	Pair Corr
0.45	VRDN	Viridian Therapeutics	Pair Corr
0.39	EXEL	Exelixis	Pair Corr
0.38	KZR	Kezar Life Sciences	Pair Corr

Related Correlations Analysis

	EVH	AGTI	CERT	RCM	PRVA	HSTM	NRC	HQY	CPSI	FORA
EVH		0.18	0.65	-0.85	-0.47	-0.84	0.6	-0.94	0.2	0.75	EVH
AGTI	0.18		0.53	-0.19	-0.19	-0.26	0.07	-0.18	0.42	0.25	AGTI
CERT	0.65	0.53		-0.75	0.02	-0.4	0.55	-0.59	0.64	0.78	CERT
RCM	-0.85	-0.19	-0.75		0.18	0.65	-0.74	0.86	-0.42	-0.91	RCM
PRVA	-0.47	-0.19	0.02	0.18		0.77	0.11	0.54	0.26	-0.02	PRVA
HSTM	-0.84	-0.26	-0.4	0.65	0.77		-0.25	0.86	-0.16	-0.53	HSTM
NRC	0.6	0.07	0.55	-0.74	0.11	-0.25		-0.59	0.12	0.69	NRC
HQY	-0.94	-0.18	-0.59	0.86	0.54	0.86	-0.59		-0.2	-0.72	HQY
CPSI	0.2	0.42	0.64	-0.42	0.26	-0.16	0.12	-0.2		0.57	CPSI
FORA	0.75	0.25	0.78	-0.91	-0.02	-0.53	0.69	-0.72	0.57		FORA
	EVH	AGTI	CERT	RCM	PRVA	HSTM	NRC	HQY	CPSI	FORA

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

HQY	+ 0.86	RCM
HQY	+ 0.86	HSTM
FORA	+ 0.78	CERT
HSTM	+ 0.77	PRVA
FORA	+ 0.75	EVH
FORA	+ 0.69	NRC

High negative correlations

HQY	- 0.94	EVH
FORA	- 0.91	RCM
RCM	- 0.85	EVH
HSTM	- 0.84	EVH
RCM	- 0.75	CERT
NRC	- 0.74	RCM

Risk-Adjusted Indicators

There is a big difference between CareMax Stock performing well and CareMax Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze CareMax's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EVH	3.11	(1.44)	0.00	(1.22)	0.00	0.00	4.48	(5.92)	51.11
AGTI	2.06	(0.02)	(0.04)	0.05	2.87	(1.81)	4.03	(4.45)	10.75
CERT	1.88	(0.55)	0.00	(0.17)	0.00	0.00	3.48	(4.01)	15.96
RCM	0.10	0.03	(0.61)	(0.87)	0.00	(0.15)	0.29	(0.21)	0.64
PRVA	2.00	(0.09)	0.01	0.07	2.14	(2.21)	4.30	(3.55)	15.04
HSTM	1.22	0.08	0.06	0.21	1.32	(1.35)	2.33	(2.00)	10.49
NRC	2.00	(0.31)	0.00	(0.05)	0.00	0.00	4.51	(4.72)	13.17
HQY	1.59	0.29	0.22	0.28	1.40	(1.93)	3.46	(2.12)	15.16
CPSI	1.50	(0.12)	0.00	0.43	0.00	0.00	2.85	(3.01)	14.25
FORA	1.14	(0.25)	0.00	(0.56)	0.00	0.00	2.67	(2.38)	12.38

CareMax Corporate Management

Carlos Solo	President, CoFounder	Profile
Samantha Swerdlin	Vice Relations	Profile
Niberto MD	Chief Officer	Profile
Nicole Cable	Chief Officer	Profile
Teresa McMeans	Chief Officer	Profile
Erick CPA	Chief Officer	Profile

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