Claritev Correlations

CTEV Stock

20.80 1.28 5.80%

The current 90-days correlation between Claritev and Goodrx Holdings is 0.12 (i.e., Average diversification). The correlation of Claritev 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.

Claritev Correlation With Market

Pay attention - limited upside

The correlation between Claritev and DJI is -0.74 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Claritev and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Claritev Stock

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

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

Moving together with Claritev Stock

0.76	OTC	Ocumetics Technology Corp	Pair Corr
0.75	AHC	Austco Healthcare	Pair Corr
0.66	IVF	INVO Fertility Symbol Change	Pair Corr
0.61	IHC	Inspiration Healthcare	Pair Corr
0.64	NTI	Neurotech International	Pair Corr
0.63	MLSS	Milestone Scientific	Pair Corr
0.72	NVNO	enVVeno Medical Corp	Pair Corr

Moving against Claritev Stock

0.73	VMD	Viemed Healthcare	Pair Corr
0.67	QIPT	Quipt Home Medical	Pair Corr
0.67	4DX	4DMEDICAL	Pair Corr
0.35	AMS	Advanced Medical Sol	Pair Corr
0.79	AFW	Align Technology	Pair Corr
0.76	EYE	Nova EYE Medical	Pair Corr
0.74	IMR	Imricor Medical Systems	Pair Corr
0.64	TLT	Theralase Technologies	Pair Corr
0.59	CREO	Creo Medical Group	Pair Corr
0.59	AFME	Affluent Medical SAS	Pair Corr
0.55	5EZ	SHIP HEALTHCARE HLDGINC	Pair Corr
0.53	FPH	Fisher Paykel Healthcare Earnings Call Today	Pair Corr
0.44	PRN	Profound Medical Corp	Pair Corr
0.4	POCI	Precision Optics Earnings Call Today	Pair Corr
0.33	PINK	Perimeter Medical Imaging	Pair Corr
0.33	MDX	MedX Health Corp	Pair Corr

Related Correlations Analysis

	GDRX	OPK	EVH	IART	SANA	IRMD	AXGN	INMD	LFMD	DNTH
GDRX		0.58	0.89	0.55	-0.05	-0.55	-0.72	-0.45	0.74	-0.86	GDRX
OPK	0.58		0.65	0.72	0.41	-0.11	-0.28	-0.32	0.32	-0.4	OPK
EVH	0.89	0.65		0.46	0.04	-0.5	-0.63	-0.37	0.74	-0.74	EVH
IART	0.55	0.72	0.46		0.42	0.08	-0.08	-0.33	0.02	-0.49	IART
SANA	-0.05	0.41	0.04	0.42		0.55	0.46	0.18	-0.26	0.23	SANA
IRMD	-0.55	-0.11	-0.5	0.08	0.55		0.86	0.23	-0.7	0.55	IRMD
AXGN	-0.72	-0.28	-0.63	-0.08	0.46	0.86		0.5	-0.81	0.64	AXGN
INMD	-0.45	-0.32	-0.37	-0.33	0.18	0.23	0.5		-0.28	0.34	INMD
LFMD	0.74	0.32	0.74	0.02	-0.26	-0.7	-0.81	-0.28		-0.61	LFMD
DNTH	-0.86	-0.4	-0.74	-0.49	0.23	0.55	0.64	0.34	-0.61		DNTH
	GDRX	OPK	EVH	IART	SANA	IRMD	AXGN	INMD	LFMD	DNTH

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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

EVH	+ 0.89	GDRX
AXGN	+ 0.86	IRMD
LFMD	+ 0.74	GDRX
LFMD	+ 0.74	EVH
IART	+ 0.72	OPK
EVH	+ 0.65	OPK

High negative correlations

DNTH	- 0.86	GDRX
LFMD	- 0.81	AXGN
DNTH	- 0.74	EVH
AXGN	- 0.72	GDRX
LFMD	- 0.7	IRMD
AXGN	- 0.63	EVH

Risk-Adjusted Indicators

There is a big difference between Claritev Stock performing well and Claritev 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 Claritev'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
GDRX	2.15	(0.63)	0.00	(0.34)	0.00	0.00	3.44	(5.26)	15.98
OPK	1.44	(0.23)	0.00	(0.16)	0.00	0.00	3.03	(2.96)	9.92
EVH	2.96	(1.20)	0.00	(1.64)	0.00	0.00	4.24	(8.36)	20.55
IART	2.14	(0.16)	(0.03)	0.01	2.53	(2.25)	5.40	(3.49)	15.12
SANA	4.42	(0.21)	0.00	0.03	4.88	(5.32)	12.59	(8.77)	28.66
IRMD	1.18	0.28	0.14	0.79	1.27	(1.27)	2.30	(2.24)	7.15
AXGN	2.27	0.56	0.18	4.12	2.17	(2.68)	5.76	(3.06)	23.58
INMD	1.64	(0.10)	(0.04)	0.00	2.43	(1.65)	2.64	(3.31)	16.14
LFMD	3.68	(0.73)	0.00	1.13	0.00	0.00	8.55	(8.88)	28.11
DNTH	2.91	0.55	0.15	7.71	2.73	(3.59)	8.95	(4.95)	23.32

Claritev Corporate Management

Alwyn Heerdan	Vice Development	Profile
Tiffani Misencik	Senior Officer	Profile
Michael Kim	Executive Officer	Profile
Tara ONeil	Senior Counsel	Profile
Carol Nutter	Senior Officer	Profile

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