American Shared Correlations

AMS Stock

USD 3.22 0.03 0.92%

The current 90-days correlation between American Shared Hospital and Jack Nathan Medical is 0.04 (i.e., Significant diversification). The correlation of American Shared 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.

American Shared Correlation With Market

Significant diversification

The correlation between American Shared Hospital and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Shared Hospital and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Shared Hospital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving against American Stock

0.47	EHAB	Enhabit	Pair Corr
0.38	EDAP	EDAP TMS SA	Pair Corr
0.33	CI	Cigna Corp	Pair Corr
0.39	ELAB	Elevai Labs, Common	Pair Corr
0.43	CON	Concentra Group Holdings	Pair Corr
0.37	FONR	Fonar	Pair Corr

Related Correlations Analysis

	RMYHY	MFCSF	JNHMF	MCIOF	FSNUY	CCM	SNDA	TOI	JYNT	AVAH
RMYHY		-0.05	0.43	0.0	0.11	0.77	0.0	0.54	-0.44	-0.5	RMYHY
MFCSF	-0.05		0.41	0.0	-0.89	-0.24	-0.4	-0.67	0.1	0.42	MFCSF
JNHMF	0.43	0.41		0.0	-0.35	0.37	-0.39	-0.11	-0.06	-0.31	JNHMF
MCIOF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	MCIOF
FSNUY	0.11	-0.89	-0.35	0.0		0.31	0.51	0.68	-0.08	-0.43	FSNUY
CCM	0.77	-0.24	0.37	0.0	0.31		0.14	0.72	-0.34	-0.66	CCM
SNDA	0.0	-0.4	-0.39	0.0	0.51	0.14		0.41	0.35	0.09	SNDA
TOI	0.54	-0.67	-0.11	0.0	0.68	0.72	0.41		-0.24	-0.48	TOI
JYNT	-0.44	0.1	-0.06	0.0	-0.08	-0.34	0.35	-0.24		0.47	JYNT
AVAH	-0.5	0.42	-0.31	0.0	-0.43	-0.66	0.09	-0.48	0.47		AVAH
	RMYHY	MFCSF	JNHMF	MCIOF	FSNUY	CCM	SNDA	TOI	JYNT	AVAH

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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

CCM	+ 0.77	RMYHY
TOI	+ 0.72	CCM
TOI	+ 0.68	FSNUY
TOI	+ 0.54	RMYHY
SNDA	+ 0.51	FSNUY
AVAH	+ 0.47	JYNT

High negative correlations

FSNUY	- 0.89	MFCSF
TOI	- 0.67	MFCSF
AVAH	- 0.66	CCM
AVAH	- 0.5	RMYHY
AVAH	- 0.48	TOI
JYNT	- 0.44	RMYHY

Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Shared 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 American Shared'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
RMYHY	1.12	(0.12)	0.00	(0.25)	0.00	0.00	4.22	(4.57)	20.29
MFCSF	1.52	0.10	0.00	0.55	1.59	(1.81)	3.97	(2.42)	7.33
JNHMF	4.61	0.94	0.00	0.46	0.00	0.00	0.00	0.00	131.85
MCIOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FSNUY	0.99	(0.15)	0.00	(0.12)	0.00	0.00	1.88	(1.95)	5.02
CCM	3.99	0.00	0.00	0.13	0.00	0.00	10.40	(7.79)	41.12
SNDA	2.36	(0.22)	0.00	(0.04)	0.00	0.00	5.59	(4.77)	12.89
TOI	4.88	(1.17)	0.00	(0.44)	0.00	0.00	10.00	(10.34)	39.32
JYNT	2.11	(0.11)	(0.01)	0.06	2.29	(2.61)	5.29	(2.97)	15.39
AVAH	2.78	(0.09)	0.01	0.09	3.34	(2.96)	5.69	(5.31)	20.22

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