Progyny Correlations

PGNY Stock

USD 15.75 0.31 2.01%

The current 90-days correlation between Progyny and Veeva Systems Class is 0.22 (i.e., Modest diversification). The correlation of Progyny 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.

Progyny Correlation With Market

Average diversification

The correlation between Progyny and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Progyny 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 Progyny. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

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

Moving together with Progyny Stock

0.73	CI	Cigna Corp	Pair Corr
0.75	EDAP	EDAP TMS SA	Pair Corr
0.64	EHAB	Enhabit	Pair Corr
0.64	EKSO	Ekso Bionics Holdings	Pair Corr
0.9	ELAB	Elevai Labs, Common	Pair Corr
0.62	EMBC	Embecta Corp	Pair Corr
0.68	FLGT	Fulgent Genetics	Pair Corr
0.66	AGL	agilon health Buyout Trend	Pair Corr
0.74	AMN	AMN Healthcare Services	Pair Corr
0.72	BAX	Baxter International	Pair Corr

Moving against Progyny Stock

0.78	ELMD	Electromed	Pair Corr
0.68	ECOR	Electrocore LLC	Pair Corr
0.65	MD	Mednax Inc	Pair Corr
0.64	DOCS	Doximity	Pair Corr
0.47	OM	Outset Medical	Pair Corr
0.47	VREX	Varex Imaging Corp	Pair Corr
0.36	DRIO	DarioHealth Corp	Pair Corr
0.71	BSX	Boston Scientific Corp	Pair Corr
0.66	BVS	Bioventus	Pair Corr

Related Correlations Analysis

	VEEV	TDOC	GDRX	TXG	DH	NRC	EVH	SLP	PRVA
VEEV		0.31	-0.42	-0.34	0.12	-0.07	-0.44	0.02	0.44	VEEV
TDOC	0.31		-0.7	-0.69	-0.11	-0.51	-0.67	-0.51	0.18	TDOC
GDRX	-0.42	-0.7		0.81	0.42	0.57	0.94	0.66	-0.5	GDRX
TXG	-0.34	-0.69	0.81		0.42	0.85	0.84	0.52	-0.24	TXG
DH	0.12	-0.11	0.42	0.42		0.58	0.36	0.68	0.15	DH
NRC	-0.07	-0.51	0.57	0.85	0.58		0.6	0.59	0.09	NRC
EVH	-0.44	-0.67	0.94	0.84	0.36	0.6		0.52	-0.52	EVH
SLP	0.02	-0.51	0.66	0.52	0.68	0.59	0.52		0.07	SLP
PRVA	0.44	0.18	-0.5	-0.24	0.15	0.09	-0.52	0.07		PRVA
	VEEV	TDOC	GDRX	TXG	DH	NRC	EVH	SLP	PRVA

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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

EVH	+ 0.94	GDRX
NRC	+ 0.85	TXG
EVH	+ 0.84	TXG
TXG	+ 0.81	GDRX
SLP	+ 0.68	DH
SLP	+ 0.66	GDRX

High negative correlations

GDRX	- 0.7	TDOC
TXG	- 0.69	TDOC
EVH	- 0.67	TDOC
PRVA	- 0.52	EVH
SLP	- 0.51	TDOC
NRC	- 0.51	TDOC

Risk-Adjusted Indicators

There is a big difference between Progyny Stock performing well and Progyny 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 Progyny'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
VEEV	1.33	0.07	0.05	0.18	1.51	(1.63)	3.49	(1.79)	15.98
TDOC	3.18	0.58	0.23	0.41	2.58	(3.89)	8.51	(4.42)	18.02
GDRX	2.21	(0.92)	0.00	(0.45)	0.00	0.00	3.05	(4.74)	22.91
TXG	2.99	(0.73)	0.00	(0.36)	0.00	0.00	4.94	(5.62)	31.04
DH	2.00	(0.22)	(0.05)	0.00	2.44	(2.13)	3.86	(4.00)	13.20
NRC	1.97	(0.34)	0.00	(0.08)	0.00	0.00	3.79	(4.72)	13.17
EVH	3.18	(1.36)	0.00	(1.02)	0.00	0.00	5.09	(5.92)	51.11
SLP	2.00	(0.45)	0.00	(0.06)	0.00	0.00	4.53	(4.36)	14.42
PRVA	2.00	(0.09)	0.01	0.07	2.15	(2.20)	4.23	(3.55)	15.04

Progyny Corporate Management

Julie Stadlbauer	Ex Partnerships	Profile
Katie Higgins	Chief Officer	Profile
Risa Fisher	Chief Officer	Profile
Cassandra Pratt	Senior People	Profile
Peter Anevski	CEO Director	Profile
Steven Leist	Chief Officer	Profile
Michael Sturmer	President	Profile

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