Forian Correlations

FORA Stock

USD 2.02 0.14 6.48%

The current 90-days correlation between Forian Inc and CPSI Old is 0.06 (i.e., Significant 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

Significant diversification

The correlation between Forian Inc and DJI is 0.05 (i.e., Significant 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.

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 metropolitan statistical area.

Moving together with Forian Stock

0.79	AGL	agilon health Buyout Trend	Pair Corr
0.8	AMN	AMN Healthcare Services	Pair Corr
0.71	EVH	Evolent Health	Pair Corr
0.86	IVP	Inspire Veterinary	Pair Corr
0.81	BACK	IMAC Holdings	Pair Corr
0.73	CYRX	Cryoport	Pair Corr
0.86	VALN	Valneva SE ADR	Pair Corr
0.71	VCNX	Vaccinex	Pair Corr

Moving against Forian Stock

0.75	VMD	Viemed Healthcare	Pair Corr
0.7	DOCS	Doximity	Pair Corr
0.44	FOXO	FOXO Technologies	Pair Corr
0.43	ITGR	Integer Holdings Corp	Pair Corr
0.39	VEEV	Veeva Systems Class	Pair Corr
0.35	SSY	SunLink Health Systems	Pair Corr
0.79	OMIC	Singular Genomics Systems	Pair Corr
0.48	MMSI	Merit Medical Systems	Pair Corr
0.41	NXGL	Nexgel Inc	Pair Corr
0.4	NXGLW	NexGel Warrant	Pair Corr
0.37	CRVL	CorVel Corp	Pair Corr
0.85	EWTX	Edgewise Therapeutics	Pair Corr
0.8	VRDN	Viridian Therapeutics	Pair Corr
0.76	BMY	Bristol Myers Squibb Sell-off Trend	Pair Corr
0.67	EXEL	Exelixis	Pair Corr
0.59	KZR	Kezar Life Sciences	Pair Corr
0.39	KTTAW	Pasithea Therapeutics	Pair Corr

Related Correlations Analysis

	HSTM	NRC	CPSI	TRHC	HQY	HCAT	NXGN	AGTI	MDRX
HSTM		-0.25	-0.16	0.75	0.86	0.17	0.06	-0.26	0.72	HSTM
NRC	-0.25		0.12	-0.69	-0.59	-0.07	0.23	0.07	-0.06	NRC
CPSI	-0.16	0.12		-0.24	-0.2	-0.67	0.71	0.42	0.31	CPSI
TRHC	0.75	-0.69	-0.24		0.91	0.28	-0.1	-0.22	0.49	TRHC
HQY	0.86	-0.59	-0.2	0.91		0.18	-0.1	-0.18	0.59	HQY
HCAT	0.17	-0.07	-0.67	0.28	0.18		-0.44	-0.1	-0.32	HCAT
NXGN	0.06	0.23	0.71	-0.1	-0.1	-0.44		0.2	0.43	NXGN
AGTI	-0.26	0.07	0.42	-0.22	-0.18	-0.1	0.2		-0.06	AGTI
MDRX	0.72	-0.06	0.31	0.49	0.59	-0.32	0.43	-0.06		MDRX
	HSTM	NRC	CPSI	TRHC	HQY	HCAT	NXGN	AGTI	MDRX

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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

HQY	+ 0.91	TRHC
HQY	+ 0.86	HSTM
TRHC	+ 0.75	HSTM
MDRX	+ 0.72	HSTM
NXGN	+ 0.71	CPSI
MDRX	+ 0.59	HQY

High negative correlations

TRHC	- 0.69	NRC
HCAT	- 0.67	CPSI
HQY	- 0.59	NRC
NXGN	- 0.44	HCAT
MDRX	- 0.32	HCAT
AGTI	- 0.26	HSTM

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
HSTM	1.22	0.08	0.06	0.21	1.32	(1.35)	2.33	(2.00)	10.49
NRC	2.00	(0.31)	0.00	(0.05)	0.00	0.00	4.51	(4.72)	13.17
CPSI	1.50	(0.12)	0.00	0.43	0.00	0.00	2.85	(3.01)	14.25
TRHC	2.76	0.71	0.19	51.39	2.59	(3.14)	7.81	(4.61)	14.89
HQY	1.59	0.29	0.22	0.28	1.40	(1.93)	3.46	(2.12)	15.16
HCAT	2.46	0.02	0.04	0.13	3.07	(2.57)	6.14	(5.64)	16.86
NXGN	1.10	(0.08)	0.00	0.54	0.00	0.00	2.81	(2.35)	7.28
AGTI	2.06	(0.02)	(0.04)	0.05	2.87	(1.81)	4.03	(4.45)	10.75
MDRX	1.27	0.15	(0.01)	(0.35)	2.08	(1.14)	2.58	(3.07)	8.73

Forian Corporate Management

Edward Spaniel	General VP	Profile
David Terrell	BioTrack Officer	Profile
Jason Holden	Vice Development	Profile
Andrew Douglas	Chief Officer	Profile
Daniel Barton	CEO Director	Profile
Rebecca Adams	Vice Resources	Profile
Michael Vesey	Chief Officer	Profile

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