Nutex Health Correlations

NUTX Stock

USD 99.71 5.31 5.06%

The current 90-days correlation between Nutex Health and Evolent Health is 0.07 (i.e., Significant diversification). The correlation of Nutex 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Nutex Health Correlation With Market

Average diversification

The correlation between Nutex Health and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nutex Health and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nutex Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nutex 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 persons.

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

Moving together with Nutex Stock

0.79	56S1	Sartorius Stedim Biotech Earnings Call Tomorrow	Pair Corr
0.82	56S0	RENAUUNSPARD 15 EO	Pair Corr
0.65	SRT	Sartorius Aktiengesellscha Earnings Call Tomorrow	Pair Corr
0.62	BA3	Brooks Automation	Pair Corr
0.61	GXI	Gerresheimer AG	Pair Corr
0.67	ELMD	Electromed Earnings Call This Week	Pair Corr

Moving against Nutex Stock

0.43	HYB	HOYA	Pair Corr
0.33	OTC	Ocumetics Technology Corp	Pair Corr
0.58	LHU	LeMaitre Vascular	Pair Corr
0.36	DRW8	Drgerwerk AG	Pair Corr
0.35	ALSGD	Spineguard	Pair Corr
0.35	AHG	Akso Health Group	Pair Corr
0.31	OC5	Cochlear Limited	Pair Corr

Related Correlations Analysis

	EVH	HSTM	AMN	MYGN	BFLY	REPL	PACB	DAWN	DNA	CDNA
EVH		0.77	-0.58	0.77	-0.17	0.55	0.08	-0.49	-0.24	-0.39	EVH
HSTM	0.77		-0.63	0.91	-0.54	0.8	0.06	-0.76	-0.47	-0.57	HSTM
AMN	-0.58	-0.63		-0.59	0.4	-0.72	0.33	0.77	0.43	0.48	AMN
MYGN	0.77	0.91	-0.59		-0.33	0.78	0.3	-0.74	-0.21	-0.4	MYGN
BFLY	-0.17	-0.54	0.4	-0.33		-0.45	0.44	0.54	0.59	0.78	BFLY
REPL	0.55	0.8	-0.72	0.78	-0.45		-0.03	-0.79	-0.32	-0.32	REPL
PACB	0.08	0.06	0.33	0.3	0.44	-0.03		0.16	0.6	0.41	PACB
DAWN	-0.49	-0.76	0.77	-0.74	0.54	-0.79	0.16		0.51	0.54	DAWN
DNA	-0.24	-0.47	0.43	-0.21	0.59	-0.32	0.6	0.51		0.66	DNA
CDNA	-0.39	-0.57	0.48	-0.4	0.78	-0.32	0.41	0.54	0.66		CDNA
	EVH	HSTM	AMN	MYGN	BFLY	REPL	PACB	DAWN	DNA	CDNA

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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

MYGN	+ 0.91	HSTM
REPL	+ 0.8	HSTM
REPL	+ 0.78	MYGN
CDNA	+ 0.78	BFLY
HSTM	+ 0.77	EVH
MYGN	+ 0.77	EVH

High negative correlations

DAWN	- 0.79	REPL
DAWN	- 0.76	HSTM
DAWN	- 0.74	MYGN
REPL	- 0.72	AMN
AMN	- 0.63	HSTM
MYGN	- 0.59	AMN

Risk-Adjusted Indicators

There is a big difference between Nutex Stock performing well and Nutex 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 Nutex 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
EVH	2.75	(0.84)	0.00	(1.16)	0.00	0.00	4.51	(7.42)	20.55
HSTM	1.09	(0.31)	0.00	(0.60)	0.00	0.00	1.99	(2.29)	8.53
AMN	2.59	(0.06)	0.00	(0.01)	0.00	0.00	4.49	(4.03)	44.40
MYGN	2.31	(0.60)	0.00	(0.40)	0.00	0.00	5.67	(4.53)	14.61
BFLY	4.90	0.51	0.11	0.25	4.87	(5.88)	12.50	(8.57)	35.76
REPL	2.54	(0.14)	0.00	(0.10)	0.00	0.00	5.56	(5.32)	14.00
PACB	4.62	0.05	0.01	0.11	4.79	(5.76)	10.33	(8.44)	29.88
DAWN	3.90	0.29	0.06	0.49	3.96	(5.29)	11.23	(6.53)	33.27
DNA	3.39	0.00	0.03	0.06	4.18	(3.49)	8.31	(6.36)	30.46
CDNA	2.62	0.23	0.08	0.24	3.16	(2.86)	6.10	(4.53)	28.32

Nutex Health Corporate Management

Vivian MBA	Director Marketing	Profile
Mark Milliner	Controller	Profile
BSN JD	Chief Sec	Profile
Elizabeth Hall	HR Mang	Profile
Jennifer Rodriguez	Investor Manager	Profile
Jon Bates	Chief Officer	Profile

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