MEDICAL FACILITIES Correlations

31F Stock

EUR 10.90 0.30 2.83%

The current 90-days correlation between MEDICAL FACILITIES NEW and NMI Holdings is 0.4 (i.e., Very weak diversification). The correlation of MEDICAL FACILITIES 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.

MEDICAL FACILITIES Correlation With Market

Modest diversification

The correlation between MEDICAL FACILITIES NEW and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MEDICAL FACILITIES NEW and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MEDICAL FACILITIES could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MEDICAL FACILITIES when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back MEDICAL FACILITIES - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling MEDICAL FACILITIES NEW to buy it.

Moving together with MEDICAL Stock

0.78	FME	Fresenius Medical Care	Pair Corr
0.78	FMEA	Fresenius Medical Care	Pair Corr
0.81	KBIA	KB Financial Group	Pair Corr

Moving against MEDICAL Stock

0.74	TCID	Telkom Indonesia Tbk	Pair Corr
0.72	BYRA	PT Bank Rakyat	Pair Corr
0.72	PQ9	PT Bank Mandiri	Pair Corr
0.72	PTI	Perusahaan Perseroan	Pair Corr
0.7	SSU	Samsung Electronics	Pair Corr
0.69	SSU	Samsung Electronics	Pair Corr
0.67	2BH	HCA Healthcare	Pair Corr
0.66	2BH	HCA Healthcare	Pair Corr
0.62	SSUN	Samsung Electronics	Pair Corr
0.62	SSUN	Samsung Electronics	Pair Corr
0.56	FRE	Fresenius SE	Pair Corr
0.52	UHS	Universal Health Services	Pair Corr
0.47	FREA	FRESENIUS SECO ADR	Pair Corr
0.41	RMY	Ramsay Health Care	Pair Corr
0.41	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	8SP	6NM	39O1	2DG	TLX	TM9	INVN	6HW	NOH1
8SP		0.53	0.29	0.79	0.03	0.34	-0.77	0.67	-0.56	8SP
6NM	0.53		0.46	0.2	0.42	0.11	-0.12	0.09	-0.08	6NM
39O1	0.29	0.46		0.15	-0.22	0.41	-0.01	-0.15	0.39	39O1
2DG	0.79	0.2	0.15		-0.23	0.26	-0.87	0.81	-0.68	2DG
TLX	0.03	0.42	-0.22	-0.23		-0.24	0.23	-0.01	-0.07	TLX
TM9	0.34	0.11	0.41	0.26	-0.24		-0.22	0.12	0.18	TM9
INVN	-0.77	-0.12	-0.01	-0.87	0.23	-0.22		-0.82	0.74	INVN
6HW	0.67	0.09	-0.15	0.81	-0.01	0.12	-0.82		-0.77	6HW
NOH1	-0.56	-0.08	0.39	-0.68	-0.07	0.18	0.74	-0.77		NOH1
	8SP	6NM	39O1	2DG	TLX	TM9	INVN	6HW	NOH1

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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

6HW	+ 0.81	2DG
2DG	+ 0.79	8SP
NOH1	+ 0.74	INVN
6HW	+ 0.67	8SP
6NM	+ 0.53	8SP
39O1	+ 0.46	6NM

High negative correlations

INVN	- 0.87	2DG
6HW	- 0.82	INVN
NOH1	- 0.77	6HW
INVN	- 0.77	8SP
NOH1	- 0.68	2DG
NOH1	- 0.56	8SP

Risk-Adjusted Indicators

There is a big difference between MEDICAL Stock performing well and MEDICAL FACILITIES 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 MEDICAL FACILITIES'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
8SP	2.05	(0.27)	0.00	(0.13)	0.00	0.00	3.36	(4.74)	20.22
6NM	1.22	(0.06)	(0.04)	0.05	1.70	(1.39)	2.89	(2.69)	9.64
39O1	3.51	(0.07)	0.00	0.08	3.50	(4.94)	8.41	(5.47)	24.06
2DG	4.54	(0.84)	0.00	1.89	0.00	0.00	9.09	(9.09)	52.42
TLX	0.95	(0.03)	(0.08)	0.07	1.14	(1.05)	2.67	(1.64)	7.58
TM9	2.79	(0.13)	(0.03)	(0.01)	4.21	(3.19)	5.56	(6.43)	36.50
INVN	2.04	0.26	0.07	0.83	2.11	(2.48)	5.59	(4.04)	14.01
6HW	0.42	(0.16)	0.00	(0.41)	0.00	0.00	1.21	(1.80)	5.39
NOH1	2.12	0.21	0.05	1.08	1.94	(2.74)	6.61	(3.38)	12.96

Be your own money manager

Our tools can tell you how much better you can do entering a position in MEDICAL FACILITIES without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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