Surgery Partners Correlations

SGRY Stock

USD 15.50 0.13 0.85%

The current 90-days correlation between Surgery Partners and LivaNova PLC is 0.24 (i.e., Modest diversification). The correlation of Surgery Partners 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.

Surgery Partners Correlation With Market

Excellent diversification

The correlation between Surgery Partners and DJI is -0.62 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Surgery Partners and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Surgery Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Surgery Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

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

Moving together with Surgery Stock

0.66	WGRX	Wellgistics Health Common	Pair Corr
0.63	KDA	KDA Group	Pair Corr

Moving against Surgery Stock

0.63	GD6	Ramsay Gnrale de	Pair Corr
0.59	ANCR	Animalcare Group Plc Earnings Call This Week	Pair Corr
0.52	UOM	AS Latvijas Juras	Pair Corr
0.4	X34	ENHABIT INC DL Earnings Call This Week	Pair Corr
0.33	NPTH	NeuPath Health	Pair Corr
0.32	CI	Cigna Corp	Pair Corr
0.63	BKD	Brookdale Senior Living	Pair Corr
0.53	CAH	Cardinal Health	Pair Corr
0.46	636	Sienna Senior Living	Pair Corr
0.43	AMN	AMN Healthcare Services	Pair Corr
0.43	AMS	American Shared Hospital	Pair Corr
0.41	EHAB	Enhabit Earnings Call This Week	Pair Corr
0.33	FRE	Fresenius SE	Pair Corr
0.54	CON	Concentra Group Holdings	Pair Corr
0.39	0NR	UNIPHAR PLC EO	Pair Corr

Related Correlations Analysis

	LIVN	ATEC	BKD	SRRK	ARDT	IDYA	HTFL	ZLAB	CDTX	LEGN
LIVN		-0.57	0.66	0.39	0.42	-0.29	-0.47	0.13	0.55	-0.28	LIVN
ATEC	-0.57		-0.91	-0.64	-0.27	0.56	0.44	-0.07	-0.81	0.73	ATEC
BKD	0.66	-0.91		0.59	0.37	-0.62	-0.48	0.14	0.77	-0.73	BKD
SRRK	0.39	-0.64	0.59		0.25	-0.39	-0.37	0.15	0.4	-0.47	SRRK
ARDT	0.42	-0.27	0.37	0.25		-0.44	-0.67	0.61	0.1	-0.14	ARDT
IDYA	-0.29	0.56	-0.62	-0.39	-0.44		0.7	-0.12	-0.18	0.59	IDYA
HTFL	-0.47	0.44	-0.48	-0.37	-0.67	0.7		-0.25	-0.05	0.28	HTFL
ZLAB	0.13	-0.07	0.14	0.15	0.61	-0.12	-0.25		0.09	0.29	ZLAB
CDTX	0.55	-0.81	0.77	0.4	0.1	-0.18	-0.05	0.09		-0.54	CDTX
LEGN	-0.28	0.73	-0.73	-0.47	-0.14	0.59	0.28	0.29	-0.54		LEGN
	LIVN	ATEC	BKD	SRRK	ARDT	IDYA	HTFL	ZLAB	CDTX	LEGN

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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

CDTX	+ 0.77	BKD
LEGN	+ 0.73	ATEC
HTFL	+ 0.7	IDYA
BKD	+ 0.66	LIVN
ZLAB	+ 0.61	ARDT
SRRK	+ 0.59	BKD

High negative correlations

BKD	- 0.91	ATEC
CDTX	- 0.81	ATEC
LEGN	- 0.73	BKD
HTFL	- 0.67	ARDT
SRRK	- 0.64	ATEC
IDYA	- 0.62	BKD

Risk-Adjusted Indicators

There is a big difference between Surgery Stock performing well and Surgery Partners 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 Surgery Partners' 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
LIVN	1.38	0.39	0.27	0.69	1.03	(1.77)	3.83	(1.71)	13.14
ATEC	2.44	(0.51)	0.00	(0.45)	0.00	0.00	3.57	(4.74)	28.16
BKD	1.78	0.55	0.18	4.57	2.01	(2.09)	4.33	(2.74)	20.32
SRRK	2.29	0.03	0.01	0.10	2.63	(2.53)	5.12	(4.53)	14.33
ARDT	1.62	0.00	0.00	0.08	1.84	(1.82)	4.12	(3.37)	8.99
IDYA	2.04	(0.12)	0.00	(0.14)	0.00	0.00	5.53	(3.97)	10.56
HTFL	3.86	(0.03)	0.00	0.11	0.00	0.00	7.79	(7.99)	28.04
ZLAB	2.05	(0.05)	0.00	(0.11)	0.00	0.00	6.01	(3.34)	10.32
CDTX	4.25	1.68	0.65	1.69	1.30	(4.61)	5.93	(4.54)	105.72
LEGN	2.58	(0.45)	0.00	0.70	0.00	0.00	4.19	(6.84)	19.65

Surgery Partners Corporate Executives

Elected by the shareholders, the Surgery Partners' board of directors comprises two types of representatives: Surgery Partners inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Surgery. The board's role is to monitor Surgery Partners' management team and ensure that shareholders' interests are well served. Surgery Partners' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Surgery Partners' outside directors are responsible for providing unbiased perspectives on the board's policies.

	David Doherty	Executive CFO	Profile
	David CPA	Executive CFO	Profile

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