RadNet Correlations

RDNT Stock

USD 66.49 4.84 6.79%

The current 90-days correlation between RadNet Inc and iRhythm Technologies is 0.29 (i.e., Modest diversification). The correlation of RadNet 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.

RadNet Correlation With Market

Excellent diversification

The correlation between RadNet Inc and DJI is -0.55 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RadNet Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with RadNet Stock

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

Moving together with RadNet Stock

0.65	MD	Mednax Inc	Pair Corr
0.61	UNH	UnitedHealth Group CDR	Pair Corr
0.68	PXS	Paragon Care Limited	Pair Corr
0.71	WGRX	Wellgistics Health Common	Pair Corr

Moving against RadNet Stock

0.69	GD6	Ramsay Gnrale de	Pair Corr
0.57	ANCR	Animalcare Group Plc	Pair Corr
0.47	LH	Laboratory	Pair Corr
0.45	X34	ENHABIT INC DL	Pair Corr
0.43	CI	Cigna Corp	Pair Corr
0.66	BKD	Brookdale Senior Living	Pair Corr
0.56	636	Sienna Senior Living	Pair Corr
0.52	UOM	AS Latvijas Juras	Pair Corr
0.51	EHAB	Enhabit	Pair Corr
0.49	AMN	AMN Healthcare Services	Pair Corr
0.42	AMS	American Shared Hospital	Pair Corr
0.4	ENSG	Ensign Group	Pair Corr
0.38	FRE	Fresenius SE	Pair Corr
0.61	CON	Concentra Group Holdings Earnings Call This Week	Pair Corr
0.49	CAH	Cardinal Health	Pair Corr
0.44	DGX	Quest Diagnostics	Pair Corr
0.4	DVA	DaVita HealthCare	Pair Corr
0.38	0NR	UNIPHAR PLC EO	Pair Corr
0.36	CHE	Chemed Corp	Pair Corr

Related Correlations Analysis

	IRTC	BTSG	BRKR	SHC	TFX	BLCO	CHE	KRYS	MTSR	MMSI
IRTC		-0.64	0.78	0.35	0.34	-0.58	-0.19	-0.63	-0.81	0.86	IRTC
BTSG	-0.64		-0.33	0.18	-0.4	0.6	0.34	0.73	0.84	-0.46	BTSG
BRKR	0.78	-0.33		0.65	0.09	-0.35	-0.22	-0.23	-0.52	0.63	BRKR
SHC	0.35	0.18	0.65		-0.54	-0.25	0.33	0.42	-0.04	0.28	SHC
TFX	0.34	-0.4	0.09	-0.54		0.04	-0.55	-0.7	-0.42	0.47	TFX
BLCO	-0.58	0.6	-0.35	-0.25	0.04		0.05	0.41	0.72	-0.45	BLCO
CHE	-0.19	0.34	-0.22	0.33	-0.55	0.05		0.43	0.41	-0.06	CHE
KRYS	-0.63	0.73	-0.23	0.42	-0.7	0.41	0.43		0.69	-0.56	KRYS
MTSR	-0.81	0.84	-0.52	-0.04	-0.42	0.72	0.41	0.69		-0.64	MTSR
MMSI	0.86	-0.46	0.63	0.28	0.47	-0.45	-0.06	-0.56	-0.64		MMSI
	IRTC	BTSG	BRKR	SHC	TFX	BLCO	CHE	KRYS	MTSR	MMSI

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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

MMSI	+ 0.86	IRTC
MTSR	+ 0.84	BTSG
BRKR	+ 0.78	IRTC
KRYS	+ 0.73	BTSG
MTSR	+ 0.72	BLCO
MTSR	+ 0.69	KRYS

High negative correlations

MTSR	- 0.81	IRTC
KRYS	- 0.7	TFX
MMSI	- 0.64	MTSR
BTSG	- 0.64	IRTC
KRYS	- 0.63	IRTC
BLCO	- 0.58	IRTC

Risk-Adjusted Indicators

There is a big difference between RadNet Stock performing well and RadNet 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 RadNet'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
IRTC	2.23	(0.57)	0.00	(0.54)	0.00	0.00	3.73	(5.48)	13.25
BTSG	1.82	0.19	0.09	0.19	1.99	(1.95)	3.44	(3.63)	9.61
BRKR	2.17	(0.38)	0.00	(0.22)	0.00	0.00	4.30	(4.13)	18.12
SHC	1.10	(0.18)	0.00	(0.19)	0.00	0.00	2.07	(2.52)	7.85
TFX	1.76	0.06	0.02	0.16	2.66	(2.02)	3.55	(2.58)	22.60
BLCO	1.13	0.19	0.13	(1.18)	1.00	(1.39)	2.96	(1.76)	6.51
CHE	1.30	(0.09)	0.00	8.13	0.00	0.00	2.46	(2.24)	18.34
KRYS	1.90	0.29	0.12	0.46	2.09	(2.33)	4.89	(3.59)	14.55
MTSR	4.01	1.50	0.47	0.64	2.40	(5.30)	14.25	(4.09)	75.60
MMSI	1.34	(0.27)	0.00	(0.29)	0.00	0.00	3.44	(2.99)	11.35

RadNet Corporate Management

David Esq	Chief VP	Profile
BSRT JD	Senior Affairs	Profile
Christine Gordon	Senior California	Profile
Ranjan Jayanathan	Executive Division	Profile
Michael Murdock	Executive Acquisitions	Profile

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