Tekla Healthcare Correlations

HQH Stock

USD 17.18 0.54 3.05%

The current 90-days correlation between Tekla Healthcare Inv and Invesco High Income is 0.05 (i.e., Significant diversification). The correlation of Tekla Healthcare 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.

Tekla Healthcare Correlation With Market

Weak diversification

The correlation between Tekla Healthcare Investors and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tekla Healthcare Investors and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tekla Stock

0.66	RM	Regional Management Corp	Pair Corr
0.81	XP	Xp Inc	Pair Corr

Moving against Tekla Stock

0.74	DIST	Distoken Acquisition	Pair Corr
0.73	PX	P10 Inc	Pair Corr
0.68	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.66	BX	Blackstone Group Normal Trading	Pair Corr
0.62	LC	LendingClub Corp	Pair Corr
0.62	LX	Lexinfintech Holdings	Pair Corr
0.6	BN	Brookfield Corp	Pair Corr
0.59	CG	Carlyle Group	Pair Corr
0.58	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.57	V	Visa Class A	Pair Corr
0.55	AC	Associated Capital	Pair Corr
0.55	MA	Mastercard	Pair Corr
0.48	AB	AllianceBernstein	Pair Corr
0.42	DHIL	Diamond Hill Investment	Pair Corr
0.34	MC	Moelis Potential Growth	Pair Corr
0.32	DB	Deutsche Bank AG	Pair Corr
0.7	QD	Qudian Inc	Pair Corr
0.66	SF	Stifel Financial Earnings Call This Week	Pair Corr
0.66	WT	WisdomTree	Pair Corr
0.63	VCTR	Victory Capital Holdings Normal Trading	Pair Corr
0.61	VIRT	Virtu Financial Normal Trading	Pair Corr
0.57	TW	Tradeweb Markets Normal Trading	Pair Corr
0.56	DUET	DUET Acquisition Corp	Pair Corr
0.56	DYCQ	DT Cloud Acquisition	Pair Corr
0.46	GCMGW	GCM Grosvenor	Pair Corr
0.71	ESHA	ESH Acquisition Corp	Pair Corr
0.67	EMCG	Embrace Change Acqui	Pair Corr
0.64	ROCLW	Roth CH Acquisition	Pair Corr
0.56	ENVA	Enova International	Pair Corr

Related Correlations Analysis

	IHTA	MHN	NXC	CXH	FMN
IHTA		-0.02	-0.26	0.17	-0.56	IHTA
MHN	-0.02		0.85	0.79	0.78	MHN
NXC	-0.26	0.85		0.6	0.85	NXC
CXH	0.17	0.79	0.6		0.53	CXH
FMN	-0.56	0.78	0.85	0.53		FMN
	IHTA	MHN	NXC	CXH	FMN

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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

NXC	+ 0.85	MHN
FMN	+ 0.85	NXC
CXH	+ 0.79	MHN
FMN	+ 0.78	MHN
CXH	+ 0.6	NXC
FMN	+ 0.53	CXH

High negative correlations

FMN	- 0.56	IHTA
NXC	- 0.26	IHTA
MHN	- 0.02	IHTA

Risk-Adjusted Indicators

There is a big difference between Tekla Stock performing well and Tekla Healthcare 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 Tekla Healthcare'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
IHTA	0.24	0.05	(0.08)	1.57	0.26	(0.30)	0.68	(0.28)	2.03
MHN	0.36	(0.01)	(0.14)	(0.59)	0.63	(0.32)	0.75	(1.03)	2.69
NXC	0.46	(0.03)	0.00	2.18	0.00	0.00	0.94	(0.94)	2.82
CXH	0.31	0.02	(0.15)	0.39	0.38	(0.35)	0.62	(0.62)	2.10
FMN	0.50	(0.06)	0.00	0.65	0.00	0.00	1.06	(1.49)	5.09

Tekla Healthcare Corporate Management

Christopher MBA	Senior Manager	Profile
Dr MS	Portfolio Manager	Profile
Lucinda Stebbins	Independent Trustee	Profile
Jeffrey Bailey	Independent Trustee	Profile
Rakesh Jain	Independent Trustee	Profile

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