Premier Correlations

PINC Stock

USD 23.00 0.20 0.88%

The current 90-days correlation between Premier and Veradigm is -0.28 (i.e., Very good diversification). The correlation of Premier 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.

Premier Correlation With Market

Very weak diversification

The correlation between Premier and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Premier 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 Premier. 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 information on how to trade Premier Stock refer to our How to Trade Premier Stock guide.

Moving together with Premier Stock

0.79	ENOV	Enovis Corp	Pair Corr
0.69	CAH	Cardinal Health	Pair Corr
0.76	HQY	HealthEquity	Pair Corr
0.8	HSTM	HealthStream	Pair Corr
0.68	MASI	Masimo	Pair Corr
0.75	MMSI	Merit Medical Systems	Pair Corr

Moving against Premier Stock

0.54	FIGS	Figs Inc	Pair Corr
0.51	EVH	Evolent Health	Pair Corr
0.49	TFX	Teleflex Incorporated	Pair Corr
0.51	GCTK	GlucoTrack	Pair Corr
0.35	WGSWW	GeneDx Holdings Corp	Pair Corr
0.4	ACET	Adicet Bio	Pair Corr

Related Correlations Analysis

	MDRX	NRC	CPSI	DH	HSTM	PRVA	NXGN	CERT	HCAT	EVH
MDRX		-0.34	0.31	0.14	-0.16	0.17	0.43	0.62	-0.62	0.04	MDRX
NRC	-0.34		-0.09	0.3	0.23	0.27	-0.08	-0.26	0.7	0.23	NRC
CPSI	0.31	-0.09		-0.14	-0.75	-0.62	0.71	-0.04	0.07	0.7	CPSI
DH	0.14	0.3	-0.14		0.53	0.55	-0.19	0.61	0.17	-0.28	DH
HSTM	-0.16	0.23	-0.75	0.53		0.83	-0.7	0.43	0.01	-0.78	HSTM
PRVA	0.17	0.27	-0.62	0.55	0.83		-0.39	0.6	-0.18	-0.62	PRVA
NXGN	0.43	-0.08	0.71	-0.19	-0.7	-0.39		0.0	-0.15	0.6	NXGN
CERT	0.62	-0.26	-0.04	0.61	0.43	0.6	0.0		-0.56	-0.43	CERT
HCAT	-0.62	0.7	0.07	0.17	0.01	-0.18	-0.15	-0.56		0.39	HCAT
EVH	0.04	0.23	0.7	-0.28	-0.78	-0.62	0.6	-0.43	0.39		EVH
	MDRX	NRC	CPSI	DH	HSTM	PRVA	NXGN	CERT	HCAT	EVH

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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

PRVA	+ 0.83	HSTM
NXGN	+ 0.71	CPSI
HCAT	+ 0.7	NRC
EVH	+ 0.7	CPSI
CERT	+ 0.62	MDRX
CERT	+ 0.61	DH

High negative correlations

EVH	- 0.78	HSTM
HSTM	- 0.75	CPSI
NXGN	- 0.7	HSTM
EVH	- 0.62	PRVA
PRVA	- 0.62	CPSI
HCAT	- 0.62	MDRX

Risk-Adjusted Indicators

There is a big difference between Premier Stock performing well and Premier 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 Premier'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
MDRX	1.27	0.10	0.01	0.64	2.08	(1.14)	2.58	(3.07)	8.73
NRC	2.20	(0.19)	0.00	(0.20)	0.00	0.00	4.29	(4.35)	18.65
CPSI	1.50	(0.16)	0.00	(7.62)	0.00	0.00	2.85	(3.01)	14.25
DH	2.27	0.21	0.07	0.51	2.27	(2.93)	5.83	(4.35)	16.28
HSTM	0.98	0.15	0.08	0.36	1.09	(1.00)	2.33	(2.00)	8.52
PRVA	1.92	0.37	0.15	0.84	2.03	(2.17)	4.34	(3.55)	15.04
NXGN	1.10	(0.10)	0.00	0.80	0.00	0.00	2.81	(2.35)	7.28
CERT	2.18	0.36	0.16	0.36	1.98	(2.48)	6.08	(3.72)	13.03
HCAT	2.86	(0.50)	0.00	(1.90)	0.00	0.00	6.14	(7.00)	19.37
EVH	3.50	(0.77)	0.00	0.79	0.00	0.00	5.49	(9.77)	51.11

Premier Corporate Management

Andrew Brailo	Chief Officer	Profile
Lisa Benna	Chief Officer	Profile
Kaycee Kalpin	Chief Officer	Profile
Laurie Graham	Chief Staff	Profile

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