OneMedNet Corp Correlations

ONMDW Stock

0.10 0.03 20.77%

The current 90-days correlation between OneMedNet Corp and Roadzen is -0.05 (i.e., Good diversification). The correlation of OneMedNet Corp 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.

OneMedNet Corp Correlation With Market

Very good diversification

The correlation between OneMedNet Corp and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OneMedNet Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with OneMedNet Stock

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

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

Moving together with OneMedNet Stock

0.61

EVH

Evolent Health Downward Rally

Pair Corr

Moving against OneMedNet Stock

0.66	300550	Heren Health	Pair Corr
0.53	300288	Longmaster Information	Pair Corr
0.51	ONE	Oneview Healthcare Plc	Pair Corr
0.36	M7T	MACH7 Technologies	Pair Corr
0.36	F	Ford Motor Earnings Call This Week	Pair Corr
0.62	ABEV	Ambev SA ADR Aggressive Push	Pair Corr
0.54	JBTC	Jonestown Bank Normal Trading	Pair Corr
0.48	FNV	Franco Nevada	Pair Corr
0.44	CDR-PC	Cedar Realty Trust	Pair Corr
0.4	BZQIF	Bezeq The Israel	Pair Corr
0.4	GMRE	Global Medical REIT	Pair Corr
0.38	NRGT	Energy Today	Pair Corr
0.36	MPW	Medical Properties Trust	Pair Corr
0.33	MRNA	Moderna Aggressive Push	Pair Corr
0.63	NEXOY	Nexon Co	Pair Corr
0.52	FFMH	First Farmers	Pair Corr

Related Correlations Analysis

	RSSS	IDN	PSQH	RCT	MAPS	MLGO	PERF	TCGL	API	RDZN
RSSS		-0.76	0.8	0.55	0.64	0.79	0.74	-0.45	-0.48	-0.47	RSSS
IDN	-0.76		-0.83	-0.68	-0.56	-0.81	-0.82	0.27	0.41	0.46	IDN
PSQH	0.8	-0.83		0.73	0.71	0.95	0.89	-0.61	-0.7	-0.68	PSQH
RCT	0.55	-0.68	0.73		0.31	0.72	0.62	-0.49	-0.73	-0.61	RCT
MAPS	0.64	-0.56	0.71	0.31		0.75	0.68	-0.48	-0.36	-0.42	MAPS
MLGO	0.79	-0.81	0.95	0.72	0.75		0.86	-0.6	-0.69	-0.72	MLGO
PERF	0.74	-0.82	0.89	0.62	0.68	0.86		-0.61	-0.6	-0.5	PERF
TCGL	-0.45	0.27	-0.61	-0.49	-0.48	-0.6	-0.61		0.84	0.36	TCGL
API	-0.48	0.41	-0.7	-0.73	-0.36	-0.69	-0.6	0.84		0.67	API
RDZN	-0.47	0.46	-0.68	-0.61	-0.42	-0.72	-0.5	0.36	0.67		RDZN
	RSSS	IDN	PSQH	RCT	MAPS	MLGO	PERF	TCGL	API	RDZN

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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

MLGO	+ 0.95	PSQH
PERF	+ 0.89	PSQH
PERF	+ 0.86	MLGO
API	+ 0.84	TCGL
PSQH	+ 0.8	RSSS
MLGO	+ 0.79	RSSS

High negative correlations

PSQH	- 0.83	IDN
PERF	- 0.82	IDN
MLGO	- 0.81	IDN
IDN	- 0.76	RSSS
API	- 0.73	RCT
RDZN	- 0.72	MLGO

Risk-Adjusted Indicators

There is a big difference between OneMedNet Stock performing well and OneMedNet Corp 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 OneMedNet Corp'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
RSSS	2.22	(0.16)	0.00	(0.08)	0.00	0.00	3.45	(3.72)	20.31
IDN	3.09	0.66	0.13	(0.24)	2.91	(3.65)	5.94	(5.34)	47.19
PSQH	3.43	(1.13)	0.00	(0.48)	0.00	0.00	6.67	(8.53)	19.40
RCT	3.87	(0.27)	0.00	(0.40)	0.00	0.00	9.62	(8.98)	25.49
MAPS	3.09	(0.35)	0.00	(0.22)	0.00	0.00	6.17	(5.88)	25.13
MLGO	4.41	(0.98)	0.00	(0.25)	0.00	0.00	8.69	(10.15)	24.69
PERF	2.15	(0.30)	0.00	(0.28)	0.00	0.00	3.53	(4.95)	17.38
TCGL	2.63	1.03	0.39	4.64	1.73	(3.14)	5.70	(3.47)	32.11
API	1.85	0.34	0.10	(1.42)	2.07	(2.18)	4.88	(3.82)	12.89
RDZN	3.65	0.55	0.14	0.45	3.36	(4.65)	13.74	(5.75)	32.71

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