EHEALTH Correlations

Stocks . Germany . 
Stock . EHEALTH
M5V Stock  EUR 9.44  0.13  1.40%   
The current 90-days correlation between EHEALTH and Adtalem Global Education is 0.03 (i.e., Significant diversification). The correlation of EHEALTH 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.

EHEALTH Correlation With Market

Good diversification

The correlation between EHEALTH and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EHEALTH and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to EHEALTH could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EHEALTH when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back EHEALTH - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling EHEALTH to buy it.

Moving together with EHEALTH Stock

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Moving against EHEALTH Stock

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  0.79BYRA BANK RAKYAT INDPairCorr
  0.77PQ9 BANK MANDIRIPairCorr
  0.71BYRA PT Bank RakyatPairCorr
  0.69PQ9 BANK MANDIRIPairCorr
  0.66PQ9 PT Bank MandiriPairCorr
  0.62BYRA PT Bank RakyatPairCorr
  0.68BZG2 BANK CENTRAL ASIA Earnings Call This WeekPairCorr
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Related Correlations Analysis

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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   
GKD
+ 0.95
DVY
GKD
+ 0.88
22F
GKD
+ 0.83
E6Z
DVY
+ 0.81
22F
SXC
+ 0.81
DVY
GKD
+ 0.8
SXC
  
High negative correlations   
SXC
- 0.49
IZZ
GKD
- 0.46
IZZ
CPW
- 0.46
22F
IZZ
- 0.46
22F
IZZ
- 0.45
DVY
CPW
- 0.31
DVY

Risk-Adjusted Indicators

There is a big difference between EHEALTH Stock performing well and EHEALTH 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 EHEALTH'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in EHEALTH without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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