Evolent Health Correlations

EVH Stock

USD 3.58 0.33 10.15%

The current 90-days correlation between Evolent Health and Nutex Health is 0.33 (i.e., Weak diversification). The correlation of Evolent 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.

Evolent Health Correlation With Market

Excellent diversification

The correlation between Evolent Health and DJI is -0.64 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evolent Health and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Evolent Stock

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

For more detail on how to invest in Evolent Stock please use our How to Invest in Evolent Health guide.

Moving together with Evolent Stock

0.79	GLH	Global Health	Pair Corr
0.82	DH	Definitive Healthcare	Pair Corr
0.83	7XE	NIGHTINGALE HEALTH	Pair Corr
0.9	DOCS	Doximity	Pair Corr
0.91	VEEV	Veeva Systems Class Earnings Call Tomorrow	Pair Corr
0.71	VSEE	VSee Health	Pair Corr
0.86	PME	Pro Medicus	Pair Corr
0.92	4LL	Teladoc	Pair Corr
0.85	EMO	EM Systems	Pair Corr
0.84	PHR	Phreesia	Pair Corr
0.69	L7T	UNIDOC HEALTH P	Pair Corr
0.78	SLP	Simulations Plus	Pair Corr
0.65	SHG	Singular Health Group	Pair Corr
0.92	WAY	Waystar Holding Corp	Pair Corr
0.85	GDRX	Goodrx Holdings Buyout Trend	Pair Corr
0.79	HCAT	Health Catalyst	Pair Corr
0.86	VHI	Vitalhub Corp	Pair Corr
0.83	HL5	HealthStream	Pair Corr
0.81	HSTM	HealthStream	Pair Corr

Moving against Evolent Stock

0.7	ALMDT	Mediantechn	Pair Corr
0.6	AJ91	DocCheck AG	Pair Corr
0.52	GZM0	FEEDBACK PLC LS	Pair Corr
0.5	FDBK	Feedback PLC	Pair Corr
0.38	WORX	Scworx Corp	Pair Corr
0.76	DOC	Doctor Care Anywhere	Pair Corr
0.73	CHS	Comprehensive Healthcare	Pair Corr
0.6	KOO	Kooth plc	Pair Corr
0.5	APTOF	DMD Digital Health	Pair Corr

Related Correlations Analysis

	NUTX	HSTM	AMN	MYGN	REPL	AVBP	MGTX	BFLY	PSNL	KURA
NUTX		0.49	-0.47	0.62	0.36	-0.11	0.44	0.43	0.01	0.4	NUTX
HSTM	0.49		-0.57	0.91	0.82	0.1	0.55	-0.24	0.31	0.92	HSTM
AMN	-0.47	-0.57		-0.56	-0.71	0.21	-0.3	0.24	0.21	-0.68	AMN
MYGN	0.62	0.91	-0.56		0.72	0.04	0.52	-0.06	0.37	0.86	MYGN
REPL	0.36	0.82	-0.71	0.72		0.2	0.6	-0.49	0.04	0.89	REPL
AVBP	-0.11	0.1	0.21	0.04	0.2		0.42	-0.26	0.4	0.15	AVBP
MGTX	0.44	0.55	-0.3	0.52	0.6	0.42		-0.25	0.02	0.5	MGTX
BFLY	0.43	-0.24	0.24	-0.06	-0.49	-0.26	-0.25		0.16	-0.3	BFLY
PSNL	0.01	0.31	0.21	0.37	0.04	0.4	0.02	0.16		0.29	PSNL
KURA	0.4	0.92	-0.68	0.86	0.89	0.15	0.5	-0.3	0.29		KURA
	NUTX	HSTM	AMN	MYGN	REPL	AVBP	MGTX	BFLY	PSNL	KURA

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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

KURA	+ 0.92	HSTM
MYGN	+ 0.91	HSTM
KURA	+ 0.89	REPL
KURA	+ 0.86	MYGN
REPL	+ 0.82	HSTM
REPL	+ 0.72	MYGN

High negative correlations

REPL	- 0.71	AMN
KURA	- 0.68	AMN
AMN	- 0.57	HSTM
MYGN	- 0.56	AMN
BFLY	- 0.49	REPL
AMN	- 0.47	NUTX

Risk-Adjusted Indicators

There is a big difference between Evolent Stock performing well and Evolent 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 Evolent 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
NUTX	5.01	(0.11)	0.00	(0.02)	0.00	0.00	9.36	(9.98)	38.02
HSTM	1.15	(0.26)	0.00	(1.15)	0.00	0.00	1.99	(2.22)	6.69
AMN	2.88	0.36	0.08	2.09	3.51	(3.44)	5.50	(4.06)	44.40
MYGN	2.27	(0.72)	0.00	(0.45)	0.00	0.00	4.42	(5.14)	13.04
REPL	2.95	(0.39)	0.00	(0.43)	0.00	0.00	6.34	(6.41)	20.74
AVBP	2.63	0.15	0.03	0.57	2.89	(3.39)	6.71	(4.81)	18.12
MGTX	2.47	0.08	0.00	(0.20)	3.04	(2.54)	5.08	(5.54)	16.37
BFLY	4.62	0.36	0.08	0.23	5.25	(5.59)	8.39	(9.14)	69.49
PSNL	4.14	(0.21)	(0.01)	0.00	5.31	(4.28)	10.09	(9.67)	27.29
KURA	2.63	(0.47)	0.00	(0.43)	0.00	0.00	4.51	(5.77)	22.83

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