Hinge Health Correlations

HNGE Stock

39.87 0.93 2.39%

The current 90-days correlation between Hinge Health and Lipella Pharmaceuticals Common is -0.15 (i.e., Good diversification). The correlation of Hinge 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.

Hinge Health Correlation With Market

Very good diversification

The correlation between Hinge Health and DJI is -0.41 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hinge Health and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hinge Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hinge 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 census.

For information on how to trade Hinge Stock refer to our How to Trade Hinge Stock guide.

Moving together with Hinge Stock

0.79	UNH	UnitedHealth Group CDR	Pair Corr
0.61	WGRX	Wellgistics Health Common	Pair Corr
0.7	KDA	KDA Group	Pair Corr

Moving against Hinge Stock

0.88	ANCR	Animalcare Group Plc	Pair Corr
0.8	GD6	Ramsay Gnrale de	Pair Corr
0.71	LH	Laboratory	Pair Corr
0.45	X34	ENHABIT INC DL	Pair Corr
0.39	X2S	Sinopharm Group	Pair Corr
0.37	CI	Cigna Corp	Pair Corr
0.35	S00	Spire Healthcare	Pair Corr
0.83	BKD	Brookdale Senior Living Earnings Call This Week	Pair Corr
0.77	AMN	AMN Healthcare Services Earnings Call This Week	Pair Corr
0.55	636	Sienna Senior Living Earnings Call This Week	Pair Corr
0.5	EHAB	Enhabit	Pair Corr
0.39	AMS	American Shared Hospital	Pair Corr
0.35	ENSG	Ensign Group	Pair Corr
0.77	CON	Concentra Group Holdings	Pair Corr
0.76	CAH	Cardinal Health	Pair Corr
0.73	0NR	UNIPHAR PLC EO Earnings Call This Week	Pair Corr
0.56	DGX	Quest Diagnostics	Pair Corr
0.45	DVA	DaVita HealthCare Earnings Call Tomorrow	Pair Corr
0.41	CHE	Chemed Corp	Pair Corr

Related Correlations Analysis

	CARM	BIAF	ARTL	REVB	WOK	GTBP	PBM	PTIX	AIMD	LIPO
CARM		0.57	0.57	0.61	0.6	0.21	0.72	0.67	0.42	0.62	CARM
BIAF	0.57		0.71	0.71	0.62	0.3	0.81	0.69	0.75	0.76	BIAF
ARTL	0.57	0.71		0.49	0.52	0.08	0.67	0.55	0.67	0.61	ARTL
REVB	0.61	0.71	0.49		0.43	0.58	0.58	0.64	0.4	0.43	REVB
WOK	0.6	0.62	0.52	0.43		0.15	0.74	0.8	0.52	0.75	WOK
GTBP	0.21	0.3	0.08	0.58	0.15		0.23	0.38	-0.01	0.14	GTBP
PBM	0.72	0.81	0.67	0.58	0.74	0.23		0.86	0.7	0.92	PBM
PTIX	0.67	0.69	0.55	0.64	0.8	0.38	0.86		0.54	0.82	PTIX
AIMD	0.42	0.75	0.67	0.4	0.52	-0.01	0.7	0.54		0.67	AIMD
LIPO	0.62	0.76	0.61	0.43	0.75	0.14	0.92	0.82	0.67		LIPO
	CARM	BIAF	ARTL	REVB	WOK	GTBP	PBM	PTIX	AIMD	LIPO

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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

LIPO	+ 0.92	PBM
PTIX	+ 0.86	PBM
LIPO	+ 0.82	PTIX
PBM	+ 0.81	BIAF
PTIX	+ 0.8	WOK
LIPO	+ 0.76	BIAF

High negative correlations

AIMD

- 0.01

GTBP

Risk-Adjusted Indicators

There is a big difference between Hinge Stock performing well and Hinge 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 Hinge 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
CARM	7.47	0.31	0.01	(0.12)	8.78	(9.69)	17.95	(14.06)	56.42
BIAF	4.99	(1.07)	0.00	(0.22)	0.00	0.00	11.40	(12.79)	32.32
ARTL	4.66	(0.65)	0.00	3.51	0.00	0.00	7.30	(8.33)	41.63
REVB	3.97	(1.53)	0.00	(0.66)	0.00	0.00	6.84	(10.16)	35.57
WOK	10.92	(3.70)	0.00	15.53	0.00	0.00	20.48	(35.75)	121.00
GTBP	5.44	(0.27)	0.00	(0.49)	0.00	0.00	10.61	(11.96)	51.03
PBM	6.58	(2.00)	0.00	(1.09)	0.00	0.00	9.96	(13.79)	48.52
PTIX	7.61	(1.56)	0.00	0.91	0.00	0.00	15.65	(18.37)	58.73
AIMD	4.40	(0.90)	0.00	(0.25)	0.00	0.00	12.30	(9.79)	38.73
LIPO	8.35	(0.42)	0.00	(0.21)	0.00	0.00	17.65	(21.74)	94.73

Hinge Health Corporate Management

David Wood	Secretary Legal	Profile
Jeffrey MD	Chief Officer	Profile
Erin Wilson	Senior Strategy	Profile
Hassan Asghar	Chief Officer	Profile
Alexander Annison	Chief Officer	Profile
James Budge	Chief Officer	Profile

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