Omnicell Correlations

OMCL Stock

USD 38.61 1.24 3.32%

The current 90-days correlation between Omnicell and Progyny is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Omnicell moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Omnicell moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Omnicell Correlation With Market

Very weak diversification

The correlation between Omnicell and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Omnicell and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Omnicell Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Omnicell. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in services.

For more information on how to buy Omnicell Stock please use our How to buy in Omnicell Stock guide.

Moving together with Omnicell Stock

0.97

OC9

Omnicell

Pair Corr

Moving against Omnicell Stock

0.63	WORX	Scworx Corp	Pair Corr
0.53	VSEE	VSee Health	Pair Corr
0.39	GLH	Global Health Earnings Call This Week	Pair Corr
0.36	7XE	NIGHTINGALE HEALTH	Pair Corr
0.78	MDR	Medadvisor Earnings Call This Week	Pair Corr
0.72	ALINS	Intrasense	Pair Corr
0.44	KOO	Kooth plc	Pair Corr
0.42	L7T	UNIDOC HEALTH P	Pair Corr
0.33	HL5	HealthStream Earnings Call This Week	Pair Corr
0.31	2HE	Healthequity	Pair Corr

Related Correlations Analysis

	PGNY	SDGR	OMDA	TDOC	TXG	PHR	UFPT	ASTH	SSII	GDRX
PGNY		0.88	0.59	0.83	-0.13	0.59	-0.36	0.67	0.66	0.76	PGNY
SDGR	0.88		0.63	0.94	-0.25	0.7	-0.45	0.64	0.83	0.9	SDGR
OMDA	0.59	0.63		0.69	-0.14	0.92	-0.46	0.3	0.82	0.74	OMDA
TDOC	0.83	0.94	0.69		-0.34	0.79	-0.64	0.48	0.87	0.9	TDOC
TXG	-0.13	-0.25	-0.14	-0.34		-0.31	0.71	0.37	-0.3	-0.35	TXG
PHR	0.59	0.7	0.92	0.79	-0.31		-0.59	0.24	0.88	0.83	PHR
UFPT	-0.36	-0.45	-0.46	-0.64	0.71	-0.59		0.25	-0.61	-0.5	UFPT
ASTH	0.67	0.64	0.3	0.48	0.37	0.24	0.25		0.36	0.5	ASTH
SSII	0.66	0.83	0.82	0.87	-0.3	0.88	-0.61	0.36		0.89	SSII
GDRX	0.76	0.9	0.74	0.9	-0.35	0.83	-0.5	0.5	0.89		GDRX
	PGNY	SDGR	OMDA	TDOC	TXG	PHR	UFPT	ASTH	SSII	GDRX

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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

TDOC	+ 0.94	SDGR
PHR	+ 0.92	OMDA
GDRX	+ 0.9	SDGR
GDRX	+ 0.9	TDOC
GDRX	+ 0.89	SSII
SDGR	+ 0.88	PGNY

High negative correlations

UFPT	- 0.64	TDOC
SSII	- 0.61	UFPT
UFPT	- 0.59	PHR
GDRX	- 0.5	UFPT
UFPT	- 0.46	OMDA
UFPT	- 0.45	SDGR

Risk-Adjusted Indicators

There is a big difference between Omnicell Stock performing well and Omnicell 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 Omnicell'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
PGNY	2.01	(0.24)	0.00	(0.45)	0.00	0.00	3.57	(4.17)	20.44
SDGR	2.36	(0.66)	0.00	(0.31)	0.00	0.00	3.89	(5.25)	21.90
OMDA	2.86	(0.87)	0.00	(1.10)	0.00	0.00	4.61	(10.52)	19.12
TDOC	2.34	(0.76)	0.00	(0.31)	0.00	0.00	4.03	(5.35)	15.93
TXG	3.02	0.26	0.08	0.22	3.17	(3.43)	7.46	(5.65)	19.99
PHR	2.25	(0.97)	0.00	(0.57)	0.00	0.00	2.28	(4.85)	28.56
UFPT	1.69	0.01	0.01	0.04	2.43	(1.59)	3.61	(3.78)	12.35
ASTH	3.02	(0.28)	0.00	(0.08)	0.00	0.00	6.14	(7.16)	31.71
SSII	5.24	(0.44)	0.00	(0.35)	0.00	0.00	10.84	(9.41)	43.77
GDRX	2.25	(0.40)	0.00	(0.22)	0.00	0.00	3.62	(5.26)	15.98

Omnicell Corporate Management

Joseph Spears	Principal Chief Accounting Officer	Profile
Kathleen Nemeth	Senior Relations	Profile
Tomer Stavitsky	Senior Officer	Profile
Stella Prefach	Senior Officer	Profile
Vicki MacDevitt	Chief Staff	Profile
Sara Dalmasso	Senior International	Profile

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