Veeva Systems Correlations

VEEV Stock

USD 175.79 3.62 2.10%

The current 90-days correlation between Veeva Systems Class and Edwards Lifesciences Corp is 0.14 (i.e., Average diversification). The correlation of Veeva Systems 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.

Veeva Systems Correlation With Market

Pay attention - limited upside

The correlation between Veeva Systems Class and DJI is -0.73 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Veeva Systems Class and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Veeva Stock

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

Moving together with Veeva Stock

0.82	GLH	Global Health	Pair Corr
0.85	DH	Definitive Healthcare	Pair Corr
0.86	7XE	NIGHTINGALE HEALTH	Pair Corr
0.91	DOCS	Doximity	Pair Corr
0.63	DRIO	DarioHealth Corp	Pair Corr
0.82	VSEE	VSee Health	Pair Corr
0.9	PME	Pro Medicus	Pair Corr
0.83	4LL	Teladoc Earnings Call Today	Pair Corr
0.86	EMO	EM Systems	Pair Corr
0.83	EVH	Evolent Health Earnings Call Today	Pair Corr
0.91	PHR	Phreesia	Pair Corr
0.8	L7T	UNIDOC HEALTH P	Pair Corr
0.7	SLP	Simulations Plus	Pair Corr
0.68	SHG	Singular Health Group	Pair Corr
0.9	WAY	Waystar Holding Corp	Pair Corr
0.82	GDRX	Goodrx Holdings Earnings Call Today	Pair Corr
0.66	HCAT	Health Catalyst	Pair Corr
0.81	VHI	Vitalhub Corp	Pair Corr
0.82	HL5	HealthStream	Pair Corr
0.8	HSTM	HealthStream	Pair Corr

Moving against Veeva Stock

0.78	ALMDT	Mediantechn	Pair Corr
0.54	AJ91	DocCheck AG	Pair Corr
0.51	FDBK	Feedback PLC	Pair Corr
0.5	GZM0	FEEDBACK PLC LS	Pair Corr
0.71	DOC	Doctor Care Anywhere Earnings Call Today	Pair Corr
0.66	CHS	Comprehensive Healthcare Earnings Call Today	Pair Corr
0.31	KOO	Kooth plc	Pair Corr

Related Correlations Analysis

	EW	CAH	BDX	ARGX	GEHC	IDXX	A	BRKR	HLN	IQV
EW		-0.67	-0.72	0.31	0.15	0.76	0.73	0.73	-0.77	0.75	EW
CAH	-0.67		0.74	-0.31	-0.25	-0.63	-0.61	-0.58	0.85	-0.67	CAH
BDX	-0.72	0.74		-0.49	0.15	-0.72	-0.75	-0.58	0.87	-0.76	BDX
ARGX	0.31	-0.31	-0.49		-0.44	0.4	0.43	-0.13	-0.49	0.03	ARGX
GEHC	0.15	-0.25	0.15	-0.44		0.12	0.05	0.36	-0.04	0.13	GEHC
IDXX	0.76	-0.63	-0.72	0.4	0.12		0.93	0.76	-0.82	0.77	IDXX
A	0.73	-0.61	-0.75	0.43	0.05	0.93		0.74	-0.83	0.75	A
BRKR	0.73	-0.58	-0.58	-0.13	0.36	0.76	0.74		-0.62	0.89	BRKR
HLN	-0.77	0.85	0.87	-0.49	-0.04	-0.82	-0.83	-0.62		-0.75	HLN
IQV	0.75	-0.67	-0.76	0.03	0.13	0.77	0.75	0.89	-0.75		IQV
	EW	CAH	BDX	ARGX	GEHC	IDXX	A	BRKR	HLN	IQV

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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

A	+ 0.93	IDXX
IQV	+ 0.89	BRKR
HLN	+ 0.87	BDX
HLN	+ 0.85	CAH
IQV	+ 0.77	IDXX
IDXX	+ 0.76	EW

High negative correlations

HLN	- 0.83	A
HLN	- 0.82	IDXX
HLN	- 0.77	EW
IQV	- 0.76	BDX
IQV	- 0.75	HLN
A	- 0.75	BDX

Risk-Adjusted Indicators

There is a big difference between Veeva Stock performing well and Veeva Systems 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 Veeva Systems' 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
EW	1.16	(0.08)	0.00	(0.05)	0.00	0.00	2.49	(2.43)	6.60
CAH	1.15	0.16	0.03	(0.82)	1.43	(1.26)	2.54	(2.43)	13.93
BDX	1.20	0.21	0.20	0.31	0.69	(1.55)	3.22	(1.77)	7.13
ARGX	1.16	(0.13)	0.00	39.10	0.00	0.00	2.29	(3.07)	7.34
GEHC	1.42	0.16	0.10	0.24	1.37	(1.48)	3.38	(2.61)	7.77
IDXX	1.30	(0.14)	0.00	(0.04)	0.00	0.00	3.61	(3.18)	10.16
A	1.26	(0.32)	0.00	(0.19)	0.00	0.00	2.90	(2.72)	7.85
BRKR	2.29	(0.22)	0.00	(0.04)	0.00	0.00	4.41	(4.13)	19.43
HLN	0.95	0.19	0.11	0.88	0.86	(1.09)	2.76	(1.69)	5.40
IQV	1.68	(0.56)	0.00	(0.22)	0.00	0.00	3.59	(4.70)	15.97

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