Forian Correlations

FORA Stock

USD 2.13 0.01 0.47%

The current 90-days correlation between Forian Inc and Heartbeam is 0.14 (i.e., Average diversification). The correlation of Forian 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.

Forian Correlation With Market

Very good diversification

The correlation between Forian Inc and DJI is -0.43 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Forian Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Forian Stock

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

Moving together with Forian Stock

0.66	ELAB	Elevai Labs Common	Pair Corr
0.64	ZBH	Zimmer Biomet Holdings Earnings Call This Week	Pair Corr
0.71	INGN	Inogen Inc	Pair Corr

Moving against Forian Stock

0.73	GMED	Globus Medical	Pair Corr
0.73	301370	GKHT Medical Technology	Pair Corr
0.67	BDX	Becton Dickinson Earnings Call This Week	Pair Corr
0.65	ALC	Alcon AG	Pair Corr
0.62	ELMD	Electromed	Pair Corr
0.62	DHR	Danaher	Pair Corr
0.55	4DX	4DMEDICAL	Pair Corr
0.51	VMD	Viemed Healthcare	Pair Corr
0.37	EW	Edwards Lifesciences Corp	Pair Corr
0.36	688626	Xiangyu Medical	Pair Corr
0.35	FONR	Fonar	Pair Corr
0.64	ALGN	Align Technology Earnings Call This Week	Pair Corr
0.58	688607	CareRay Digital Medical	Pair Corr
0.35	IMR	Imricor Medical Systems	Pair Corr

Related Correlations Analysis

	BEAT	ONMD	AMWL	GEG	NSRX	XBIT	TCRX	LUNG	NTRB	ASRT
BEAT		-0.4	0.46	-0.47	0.07	0.18	-0.13	0.5	-0.29	-0.49	BEAT
ONMD	-0.4		0.25	0.39	0.36	-0.2	0.71	-0.12	0.82	0.43	ONMD
AMWL	0.46	0.25		-0.29	0.32	0.11	0.65	0.2	0.31	-0.25	AMWL
GEG	-0.47	0.39	-0.29		-0.03	-0.26	-0.11	0.28	-0.04	0.04	GEG
NSRX	0.07	0.36	0.32	-0.03		-0.25	0.42	-0.1	0.49	-0.16	NSRX
XBIT	0.18	-0.2	0.11	-0.26	-0.25		0.08	0.21	-0.1	0.31	XBIT
TCRX	-0.13	0.71	0.65	-0.11	0.42	0.08		-0.29	0.82	0.34	TCRX
LUNG	0.5	-0.12	0.2	0.28	-0.1	0.21	-0.29		-0.35	-0.32	LUNG
NTRB	-0.29	0.82	0.31	-0.04	0.49	-0.1	0.82	-0.35		0.53	NTRB
ASRT	-0.49	0.43	-0.25	0.04	-0.16	0.31	0.34	-0.32	0.53		ASRT
	BEAT	ONMD	AMWL	GEG	NSRX	XBIT	TCRX	LUNG	NTRB	ASRT

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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

NTRB	+ 0.82	ONMD
NTRB	+ 0.82	TCRX
TCRX	+ 0.71	ONMD
TCRX	+ 0.65	AMWL
ASRT	+ 0.53	NTRB
LUNG	+ 0.5	BEAT

High negative correlations

ASRT	- 0.49	BEAT
GEG	- 0.47	BEAT
ONMD	- 0.4	BEAT
NTRB	- 0.35	LUNG
ASRT	- 0.32	LUNG
LUNG	- 0.29	TCRX

Risk-Adjusted Indicators

There is a big difference between Forian Stock performing well and Forian 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 Forian'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
BEAT	8.43	1.20	0.11	1.87	10.05	(10.80)	28.33	(11.73)	103.08
ONMD	7.00	(1.12)	0.00	(2.53)	0.00	0.00	13.71	(16.51)	53.01
AMWL	2.56	(0.28)	0.00	(0.12)	0.00	0.00	5.98	(4.84)	12.73
GEG	1.21	(0.16)	0.00	(0.43)	0.00	0.00	2.80	(2.59)	9.83
NSRX	3.67	(0.43)	0.00	(0.23)	0.00	0.00	6.99	(7.74)	36.48
XBIT	3.27	0.09	0.04	0.12	3.30	(4.23)	6.67	(5.88)	28.09
TCRX	4.19	(1.04)	0.00	(0.23)	0.00	0.00	9.62	(9.68)	40.38
LUNG	5.11	0.16	0.05	0.13	5.65	(5.98)	13.23	(8.50)	45.80
NTRB	3.50	(0.44)	0.00	(1.05)	0.00	0.00	9.04	(7.23)	32.02
ASRT	2.57	(0.01)	0.00	0.06	3.16	(2.82)	6.07	(5.00)	24.64

Forian Corporate Management

David Terrell	BioTrack Officer	Profile
Michael Vesey	Chief Officer	Profile
Michael CPA	Chief Officer	Profile
Paul Reuscher	Chief Officer	Profile
Max Wygod	CoFounder Chairman	Profile
Adam Dublin	Chief CoFounder	Profile

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