CareCloud Correlations

CCLDP Stock

16.91 0.57 3.49%

The current 90-days correlation between CareCloud and CareCloud is 0.78 (i.e., Poor diversification). The correlation of CareCloud 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.

CareCloud Correlation With Market

Good diversification

The correlation between CareCloud and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CareCloud 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 CareCloud. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

To learn how to invest in CareCloud Stock, please use our How to Invest in CareCloud guide.

Moving together with CareCloud Stock

0.82	GH	Guardant Health	Pair Corr
0.69	LH	Laboratory	Pair Corr
0.81	OM	Outset Medical	Pair Corr
0.74	DOCS	Doximity	Pair Corr
0.7	DXCM	DexCom Inc Sell-off Trend	Pair Corr
0.73	VREX	Varex Imaging Corp	Pair Corr
0.82	ELMD	Electromed	Pair Corr
0.61	ENOV	Enovis Corp	Pair Corr
0.72	BSX	Boston Scientific Corp Sell-off Trend	Pair Corr
0.77	FNA	Paragon 28	Pair Corr
0.88	SYK	Stryker	Pair Corr
0.78	LNSR	LENSAR Inc	Pair Corr
0.83	MMSI	Merit Medical Systems	Pair Corr
0.83	NPCE	Neuropace	Pair Corr
0.68	OFIX	Orthofix Medical	Pair Corr
0.86	PODD	Insulet	Pair Corr
0.8	TCMD	Tactile Systems Tech	Pair Corr

Moving against CareCloud Stock

0.76	EKSO	Ekso Bionics Holdings	Pair Corr
0.54	VERO	Venus Concept	Pair Corr
0.5	DRIO	DarioHealth Corp	Pair Corr
0.33	CI	Cigna Corp	Pair Corr
0.7	MDT	Medtronic PLC	Pair Corr
0.65	LIFWW	MSP Recovery	Pair Corr
0.51	KIDS	Orthopediatrics Corp	Pair Corr
0.81	VALN	Valneva SE ADR	Pair Corr
0.69	ME	23Andme Holding Upward Rally	Pair Corr
0.64	AIMD	Ainos Inc	Pair Corr
0.6	TNDM	Tandem Diabetes Care	Pair Corr
0.56	EQ	Equillium	Pair Corr
0.51	A	Agilent Technologies Sell-off Trend	Pair Corr

Related Correlations Analysis

	CCLDO	FBIOP	CSSEP	FATBP	CCLD
CCLDO		-0.39	-0.3	-0.15	0.62	CCLDO
FBIOP	-0.39		-0.41	0.63	-0.12	FBIOP
CSSEP	-0.3	-0.41		-0.66	-0.53	CSSEP
FATBP	-0.15	0.63	-0.66		0.27	FATBP
CCLD	0.62	-0.12	-0.53	0.27		CCLD
	CCLDO	FBIOP	CSSEP	FATBP	CCLD

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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

FATBP	+ 0.63	FBIOP
CCLD	+ 0.62	CCLDO
CCLD	+ 0.27	FATBP

High negative correlations

FATBP	- 0.66	CSSEP
CCLD	- 0.53	CSSEP
CSSEP	- 0.41	FBIOP
FBIOP	- 0.39	CCLDO
CSSEP	- 0.3	CCLDO
FATBP	- 0.15	CCLDO

Risk-Adjusted Indicators

There is a big difference between CareCloud Stock performing well and CareCloud 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 CareCloud'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
CCLDO	2.45	0.67	0.18	(0.97)	1.97	(3.79)	6.15	(4.30)	35.94
FBIOP	2.27	(0.20)	0.00	(0.14)	0.00	0.00	3.60	(4.72)	16.27
CSSEP	14.01	3.08	0.21	1.92	13.57	(18.83)	18.26	(17.65)	332.88
FATBP	0.87	(0.04)	(0.12)	(0.02)	1.01	(1.15)	2.51	(1.86)	6.52
CCLD	3.69	0.26	0.04	0.54	4.69	(4.15)	7.92	(7.20)	38.81

CareCloud Corporate Management

Kimberly Esq	VP Counsel	Profile
Nathalie Garcia	Chief Counsel	Profile
Kaitlyn Mode	Corporate Manager	Profile
Mike Cuesta	Chief Officer	Profile
Adeel Sarwar	Chief Officer	Profile
Steve Link	Chief Officer	Profile

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