Omnicell Correlations

OMCL Stock

USD 44.11 2.29 5.48%

The current 90-days correlation between Omnicell and HealthStream is 0.1 (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

Modest diversification

The correlation between Omnicell and DJI is 0.21 (i.e., Modest 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.

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 main economic indicators.

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

Moving together with Omnicell Stock

0.63

XAIR

Beyond Air

Pair Corr

Moving against Omnicell Stock

0.39	EKSO	Ekso Bionics Holdings	Pair Corr
0.33	EW	Edwards Lifesciences Corp	Pair Corr
0.77	CHE	Chemed Corp	Pair Corr
0.36	ALC	Alcon AG	Pair Corr
0.33	AHG	Akso Health Group	Pair Corr
0.31	BDX	Becton Dickinson	Pair Corr

Related Correlations Analysis

	HSTM	NRC	NXGN	FORA	AGTI	MDRX	CPSI	DH	EVH
HSTM		-0.25	0.1	-0.52	-0.24	0.73	-0.13	-0.08	-0.83	HSTM
NRC	-0.25		0.17	0.63	0.04	-0.15	0.07	0.59	0.57	NRC
NXGN	0.1	0.17		0.58	0.2	0.43	0.71	0.29	0.06	NXGN
FORA	-0.52	0.63	0.58		0.25	-0.11	0.57	0.46	0.73	FORA
AGTI	-0.24	0.04	0.2	0.25		-0.06	0.42	0.16	0.19	AGTI
MDRX	0.73	-0.15	0.43	-0.11	-0.06		0.31	-0.22	-0.6	MDRX
CPSI	-0.13	0.07	0.71	0.57	0.42	0.31		0.07	0.16	CPSI
DH	-0.08	0.59	0.29	0.46	0.16	-0.22	0.07		0.39	DH
EVH	-0.83	0.57	0.06	0.73	0.19	-0.6	0.16	0.39		EVH
	HSTM	NRC	NXGN	FORA	AGTI	MDRX	CPSI	DH	EVH

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

MDRX	+ 0.73	HSTM
EVH	+ 0.73	FORA
CPSI	+ 0.71	NXGN
FORA	+ 0.63	NRC
DH	+ 0.59	NRC
FORA	+ 0.58	NXGN

High negative correlations

EVH	- 0.83	HSTM
EVH	- 0.6	MDRX
FORA	- 0.52	HSTM
NRC	- 0.25	HSTM
AGTI	- 0.24	HSTM
DH	- 0.22	MDRX

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
HSTM	1.21	0.09	0.06	0.19	1.30	(1.32)	2.33	(2.00)	10.49
NRC	1.99	(0.14)	0.00	(0.81)	0.00	0.00	4.51	(4.72)	13.17
NXGN	1.10	(0.13)	0.00	(0.67)	0.00	0.00	2.81	(2.35)	7.28
FORA	1.14	(0.21)	0.00	(4.44)	0.00	0.00	2.67	(2.38)	12.38
AGTI	2.06	(0.06)	(0.03)	0.02	2.87	(1.81)	4.03	(4.45)	10.75
MDRX	1.27	0.09	0.00	0.49	2.08	(1.14)	2.58	(3.07)	8.73
CPSI	1.50	(0.20)	0.00	(0.48)	0.00	0.00	2.85	(3.01)	14.25
DH	2.05	(0.20)	(0.04)	0.00	2.42	(2.26)	4.37	(4.00)	13.20
EVH	3.26	(1.14)	0.00	(1.17)	0.00	0.00	5.09	(5.92)	59.78

Omnicell Corporate Management

Joseph Spears	Principal Chief Accounting Officer	Profile
Kathleen Nemeth	Senior Relations	Profile
Vicki MacDevitt	Chief Staff	Profile
Sara Dalmasso	Senior International	Profile
Minoo Mortazavi	Senior Operations	Profile
Corey Manley	Executive Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC