Health Catalyst Correlations

HCAT Stock

USD 1.84 0.15 7.54%

The current 90-days correlation between Health Catalyst and Cingulate is 0.14 (i.e., Average diversification). The correlation of Health Catalyst 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.

Health Catalyst Correlation With Market

Very good diversification

The correlation between Health Catalyst and DJI is -0.37 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Health Catalyst and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Health Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Health Catalyst. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

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

Moving together with Health Stock

0.68	DH	Definitive Healthcare Earnings Call This Week	Pair Corr
0.76	DOCS	Doximity	Pair Corr
0.75	PME	Pro Medicus	Pair Corr
0.62	EMO	EM Systems	Pair Corr
0.72	EVH	Evolent Health	Pair Corr
0.66	PHR	Phreesia Potential Growth	Pair Corr
0.73	WAY	Waystar Holding Corp	Pair Corr
0.64	GDRX	Goodrx Holdings	Pair Corr
0.73	VHI	Vitalhub Corp	Pair Corr
0.74	HL5	HealthStream Earnings Call This Week	Pair Corr
0.71	HSTM	HealthStream Earnings Call This Week	Pair Corr

Moving against Health Stock

0.59	ALMDT	Mediantechn	Pair Corr
0.53	AJ91	DocCheck AG	Pair Corr
0.51	FDBK	Feedback PLC Earnings Call This Week	Pair Corr
0.52	CHS	Comprehensive Healthcare Earnings Call Tomorrow	Pair Corr
0.47	DOC	Doctor Care Anywhere	Pair Corr

Related Correlations Analysis

	BFRG	TNON	SNSE	EVGN	TRAW	IMNN	BOLT	AEON	XAIR	CING
BFRG		0.9	-0.25	0.4	0.01	0.76	-0.33	-0.63	-0.15	-0.86	BFRG
TNON	0.9		-0.15	0.51	0.14	0.78	-0.34	-0.57	0.1	-0.9	TNON
SNSE	-0.25	-0.15		0.02	-0.27	-0.12	0.57	0.52	0.28	0.22	SNSE
EVGN	0.4	0.51	0.02		0.15	0.52	-0.33	-0.31	0.16	-0.43	EVGN
TRAW	0.01	0.14	-0.27	0.15		0.16	0.1	-0.31	0.56	0.01	TRAW
IMNN	0.76	0.78	-0.12	0.52	0.16		-0.27	-0.55	0.03	-0.74	IMNN
BOLT	-0.33	-0.34	0.57	-0.33	0.1	-0.27		0.61	0.25	0.49	BOLT
AEON	-0.63	-0.57	0.52	-0.31	-0.31	-0.55	0.61		0.09	0.61	AEON
XAIR	-0.15	0.1	0.28	0.16	0.56	0.03	0.25	0.09		0.07	XAIR
CING	-0.86	-0.9	0.22	-0.43	0.01	-0.74	0.49	0.61	0.07		CING
	BFRG	TNON	SNSE	EVGN	TRAW	IMNN	BOLT	AEON	XAIR	CING

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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

TNON	+ 0.9	BFRG
IMNN	+ 0.78	TNON
IMNN	+ 0.76	BFRG
AEON	+ 0.61	BOLT
CING	+ 0.61	AEON
BOLT	+ 0.57	SNSE

High negative correlations

CING	- 0.9	TNON
CING	- 0.86	BFRG
CING	- 0.74	IMNN
AEON	- 0.63	BFRG
AEON	- 0.57	TNON
AEON	- 0.55	IMNN

Risk-Adjusted Indicators

There is a big difference between Health Stock performing well and Health Catalyst 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 Health Catalyst'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
BFRG	4.34	(1.38)	0.00	(0.31)	0.00	0.00	11.76	(9.09)	27.69
TNON	3.14	(0.70)	0.00	(0.62)	0.00	0.00	6.38	(8.53)	32.51
SNSE	4.97	0.07	0.02	0.11	5.59	(6.24)	17.33	(10.69)	36.61
EVGN	2.69	(0.32)	0.00	(0.28)	0.00	0.00	4.20	(7.02)	24.86
TRAW	7.06	0.46	0.05	0.73	8.91	(8.27)	17.70	(12.90)	58.96
IMNN	3.04	(0.17)	0.00	(0.38)	0.00	0.00	6.74	(5.45)	21.83
BOLT	3.08	0.06	0.01	0.18	3.85	(3.37)	8.22	(6.86)	18.32
AEON	4.33	0.20	0.03	0.28	5.25	(5.03)	10.34	(8.65)	33.74
XAIR	7.39	0.48	0.04	(0.12)	6.15	(13.15)	14.46	(10.16)	163.02
CING	3.77	0.77	0.16	0.45	4.59	(3.96)	8.45	(6.75)	24.88

Health Catalyst Corporate Management

Neil Andersen	Western Accounts	Profile
Kevin Freeman	Chief Officer	Profile
Paul Horstmeier	Chief Officer	Profile
Adam Brown	Senior Analysis	Profile
Jeffrey Selander	Senior International	Profile
Daniel LeSueur	Chief Officer	Profile
Jason Jones	Chief Platform	Profile

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