Community Health Correlations

CYH Stock

USD 3.34 0.10 2.91%

The current 90-days correlation between Community Health Systems and Compass Pathways Plc is -0.09 (i.e., Good diversification). The correlation of Community Health 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.

Community Health Correlation With Market

Significant diversification

The correlation between Community Health Systems 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 Community Health Systems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Community Stock

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

Related Correlations Analysis

	CMPS	TALK	SNDA	AVNS	EHAB	INNV	AUNA	VREX	TOI	FDMT
CMPS		0.73	0.08	0.28	0.58	0.2	0.07	0.61	0.23	-0.67	CMPS
TALK	0.73		0.35	0.64	0.78	0.47	0.2	0.89	-0.12	-0.71	TALK
SNDA	0.08	0.35		0.65	0.34	0.74	-0.06	0.31	-0.4	-0.17	SNDA
AVNS	0.28	0.64	0.65		0.8	0.89	0.17	0.76	-0.68	-0.17	AVNS
EHAB	0.58	0.78	0.34	0.8		0.7	0.04	0.87	-0.48	-0.45	EHAB
INNV	0.2	0.47	0.74	0.89	0.7		-0.02	0.59	-0.62	-0.16	INNV
AUNA	0.07	0.2	-0.06	0.17	0.04	-0.02		0.27	0.03	-0.13	AUNA
VREX	0.61	0.89	0.31	0.76	0.87	0.59	0.27		-0.33	-0.56	VREX
TOI	0.23	-0.12	-0.4	-0.68	-0.48	-0.62	0.03	-0.33		-0.22	TOI
FDMT	-0.67	-0.71	-0.17	-0.17	-0.45	-0.16	-0.13	-0.56	-0.22		FDMT
	CMPS	TALK	SNDA	AVNS	EHAB	INNV	AUNA	VREX	TOI	FDMT

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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

VREX	+ 0.89	TALK
INNV	+ 0.89	AVNS
VREX	+ 0.87	EHAB
EHAB	+ 0.8	AVNS
EHAB	+ 0.78	TALK
VREX	+ 0.76	AVNS

High negative correlations

FDMT	- 0.71	TALK
TOI	- 0.68	AVNS
FDMT	- 0.67	CMPS
TOI	- 0.62	INNV
FDMT	- 0.56	VREX
TOI	- 0.48	EHAB

Risk-Adjusted Indicators

There is a big difference between Community Stock performing well and Community Health 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 Community Health'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
CMPS	3.86	0.66	0.16	0.54	3.58	(4.37)	10.75	(5.73)	21.95
TALK	2.17	0.19	0.08	0.16	2.53	(2.43)	4.23	(4.72)	13.51
SNDA	1.16	0.09	0.07	0.17	1.08	(1.37)	3.04	(2.09)	8.43
AVNS	1.72	0.35	0.21	0.30	1.47	(2.15)	4.68	(3.03)	9.85
EHAB	1.57	0.49	0.30	2.08	1.10	(1.90)	4.81	(2.16)	11.79
INNV	4.03	0.62	0.14	0.38	3.88	(4.67)	7.78	(6.77)	41.58
AUNA	2.13	(0.09)	0.00	(0.05)	0.00	0.00	4.95	(3.62)	23.30
VREX	1.66	0.14	0.05	0.15	3.08	(1.68)	3.76	(3.55)	17.42
TOI	4.19	(0.34)	0.00	(0.12)	0.00	0.00	6.53	(9.16)	42.16
FDMT	3.80	(0.19)	0.00	(0.11)	0.00	0.00	7.04	(9.69)	27.09

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