Health Catalyst Correlations

HCAT Stock

USD 2.36 0.06 2.61%

The current 90-days correlation between Health Catalyst and Nano X Imaging is 0.42 (i.e., Very weak 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

Good diversification

The correlation between Health Catalyst and DJI is -0.13 (i.e., 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 various price indices.

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

Moving against Health Stock

0.64	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.47	MRK	Merck Company	Pair Corr
0.45	PPERF	Bank Mandiri Persero	Pair Corr
0.45	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.42	WMT	Walmart Common Stock	Pair Corr
0.4	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.4	DD	Dupont De Nemours	Pair Corr
0.33	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	NNOX	PRLD	OBIO	CRBU	ENTA	OM	SNWV	PYXS	TNYA	HSDT
NNOX		-0.48	0.18	0.5	-0.35	0.39	0.44	0.59	0.68	0.51	NNOX
PRLD	-0.48		0.13	-0.41	0.48	-0.31	-0.34	-0.68	-0.62	-0.5	PRLD
OBIO	0.18	0.13		-0.55	0.53	-0.69	0.38	0.14	-0.31	-0.59	OBIO
CRBU	0.5	-0.41	-0.55		-0.73	0.88	0.17	0.44	0.87	0.93	CRBU
ENTA	-0.35	0.48	0.53	-0.73		-0.82	0.08	-0.44	-0.68	-0.81	ENTA
OM	0.39	-0.31	-0.69	0.88	-0.82		-0.18	0.21	0.7	0.9	OM
SNWV	0.44	-0.34	0.38	0.17	0.08	-0.18		0.48	0.36	0.14	SNWV
PYXS	0.59	-0.68	0.14	0.44	-0.44	0.21	0.48		0.7	0.41	PYXS
TNYA	0.68	-0.62	-0.31	0.87	-0.68	0.7	0.36	0.7		0.87	TNYA
HSDT	0.51	-0.5	-0.59	0.93	-0.81	0.9	0.14	0.41	0.87		HSDT
	NNOX	PRLD	OBIO	CRBU	ENTA	OM	SNWV	PYXS	TNYA	HSDT

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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

HSDT	+ 0.93	CRBU
HSDT	+ 0.9	OM
OM	+ 0.88	CRBU
TNYA	+ 0.87	CRBU
HSDT	+ 0.87	TNYA
TNYA	+ 0.7	OM

High negative correlations

OM	- 0.82	ENTA
HSDT	- 0.81	ENTA
ENTA	- 0.73	CRBU
OM	- 0.69	OBIO
TNYA	- 0.68	ENTA
PYXS	- 0.68	PRLD

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
NNOX	3.45	(0.41)	0.00	(0.14)	0.00	0.00	9.44	(6.06)	36.87
PRLD	9.79	2.73	0.18	(1.86)	11.11	(11.27)	20.00	(16.17)	206.09
OBIO	3.99	0.18	0.08	0.15	3.85	(4.84)	10.54	(6.20)	25.95
CRBU	3.04	(0.88)	0.00	(1.01)	0.00	0.00	6.86	(8.76)	20.16
ENTA	2.51	0.15	0.03	0.48	2.72	(2.86)	5.67	(4.04)	15.79
OM	4.81	(1.01)	0.00	(1.22)	0.00	0.00	9.51	(9.78)	65.67
SNWV	2.56	(0.44)	0.00	(0.21)	0.00	0.00	4.52	(5.63)	26.31
PYXS	6.06	(0.64)	0.00	(0.24)	0.00	0.00	17.05	(15.41)	70.66
TNYA	4.77	(1.39)	0.00	(0.28)	0.00	0.00	9.02	(11.04)	51.79
HSDT	5.81	(1.27)	0.00	(0.55)	0.00	0.00	11.52	(11.78)	27.63

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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