Claritev Correlations

CTEV Stock

42.41 0.38 0.90%

The current 90-days correlation between Claritev and Goodrx Holdings is 0.03 (i.e., Significant 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

Very weak diversification

The correlation between Claritev and DJI is 0.41 (i.e., Very weak diversification) 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 american community survey.

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

Moving together with Claritev Stock

0.75	OM	Outset Medical	Pair Corr
0.65	688677	Qingdao NovelBeam	Pair Corr
0.78	688606	Hangzhou Alltest Biotech	Pair Corr
0.87	688289	Sansure Biotech	Pair Corr
0.66	OTC	Ocumetics Technology Corp	Pair Corr
0.61	ELAB	Elevai Labs, Common	Pair Corr
0.61	EMBC	Embecta Corp	Pair Corr
0.81	ENOV	Enovis Corp	Pair Corr
0.72	688338	Beijing Succeeder	Pair Corr

Moving against Claritev Stock

0.55	688656	HOB Biotech Group	Pair Corr
0.51	SPEC	Inspecs Group plc	Pair Corr
0.4	EW	Edwards Lifesciences Corp	Pair Corr
0.73	ELMD	Electromed	Pair Corr
0.51	EDAP	EDAP TMS SA	Pair Corr
0.43	BLCO	Bausch Lomb Corp	Pair Corr
0.69	FIGS	Figs Inc	Pair Corr
0.65	ALC	Alcon AG	Pair Corr
0.62	601089	Beijing Winsunny Pha	Pair Corr
0.57	ESTA	Establishment Labs	Pair Corr
0.51	BB1	Blinklab	Pair Corr

Related Correlations Analysis

	GDRX	OPK	EVH	IART	SANA	IRMD	AXGN	INMD	LFMD	DNTH
GDRX		0.93	0.94	0.6	0.07	-0.91	-0.9	0.83	0.93	-0.71	GDRX
OPK	0.93		0.89	0.73	0.26	-0.81	-0.82	0.86	0.85	-0.65	OPK
EVH	0.94	0.89		0.59	0.13	-0.92	-0.91	0.83	0.95	-0.78	EVH
IART	0.6	0.73	0.59		0.58	-0.44	-0.5	0.77	0.5	-0.35	IART
SANA	0.07	0.26	0.13	0.58		0.05	-0.03	0.49	0.08	-0.23	SANA
IRMD	-0.91	-0.81	-0.92	-0.44	0.05		0.96	-0.72	-0.96	0.78	IRMD
AXGN	-0.9	-0.82	-0.91	-0.5	-0.03	0.96		-0.76	-0.95	0.82	AXGN
INMD	0.83	0.86	0.83	0.77	0.49	-0.72	-0.76		0.79	-0.71	INMD
LFMD	0.93	0.85	0.95	0.5	0.08	-0.96	-0.95	0.79		-0.85	LFMD
DNTH	-0.71	-0.65	-0.78	-0.35	-0.23	0.78	0.82	-0.71	-0.85		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

AXGN	+ 0.96	IRMD
LFMD	+ 0.95	EVH
EVH	+ 0.94	GDRX
OPK	+ 0.93	GDRX
LFMD	+ 0.93	GDRX
EVH	+ 0.89	OPK

High negative correlations

LFMD	- 0.96	IRMD
LFMD	- 0.95	AXGN
IRMD	- 0.92	EVH
AXGN	- 0.91	EVH
IRMD	- 0.91	GDRX
AXGN	- 0.9	GDRX

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	2.51	(0.62)	0.00	(0.33)	0.00	0.00	3.92	(4.56)	29.45
OPK	1.59	(0.25)	0.00	(0.28)	0.00	0.00	3.01	(3.33)	12.29
EVH	3.10	(1.29)	0.00	(0.90)	0.00	0.00	4.31	(7.42)	22.75
IART	2.70	(0.26)	0.00	(0.02)	0.00	0.00	5.94	(5.16)	29.40
SANA	5.13	0.34	0.10	0.17	4.90	(6.67)	13.56	(9.19)	43.34
IRMD	1.38	0.48	0.23	1.11	1.39	(1.55)	3.36	(2.42)	11.95
AXGN	2.49	1.04	0.37	(68.13)	1.81	(3.00)	5.66	(2.94)	30.66
INMD	1.19	(0.10)	0.00	(0.04)	0.00	0.00	2.33	(2.29)	9.48
LFMD	3.08	(1.01)	0.00	(0.33)	0.00	0.00	4.59	(7.02)	18.97
DNTH	2.24	0.18	0.06	0.39	2.43	(2.87)	7.26	(4.51)	19.54

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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