HealthEquity Correlations

HQY Stock

USD 102.47 1.10 1.06%

The current 90-days correlation between HealthEquity and Ollies Bargain Outlet is 0.04 (i.e., Significant diversification). The correlation of HealthEquity 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.

HealthEquity Correlation With Market

Poor diversification

The correlation between HealthEquity and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HealthEquity and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in HealthEquity. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

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

Moving together with HealthEquity Stock

0.62	GH	Guardant Health	Pair Corr
0.68	LH	Laboratory	Pair Corr
0.89	MD	Mednax Inc	Pair Corr
0.79	OM	Outset Medical	Pair Corr
0.82	DOCS	Doximity Sell-off Trend	Pair Corr
0.66	DXCM	DexCom Inc	Pair Corr
0.9	VREX	Varex Imaging Corp	Pair Corr
0.81	ECOR	Electrocore LLC	Pair Corr
0.93	ELMD	Electromed	Pair Corr
0.66	XAIR	Beyond Air	Pair Corr

Moving against HealthEquity Stock

0.92	EKSO	Ekso Bionics Holdings	Pair Corr
0.76	ELAB	Elevai Labs, Common	Pair Corr
0.75	VERO	Venus Concept	Pair Corr
0.72	EDAP	EDAP TMS SA	Pair Corr
0.64	CI	Cigna Corp	Pair Corr
0.39	EHAB	Enhabit	Pair Corr
0.33	ENSG	Ensign Group	Pair Corr
0.89	ALC	Alcon AG	Pair Corr
0.88	AGL	agilon health	Pair Corr
0.88	BAX	Baxter International	Pair Corr
0.86	AMN	AMN Healthcare Services	Pair Corr
0.85	BKD	Brookdale Senior Living	Pair Corr
0.85	CNC	Centene Corp Sell-off Trend	Pair Corr
0.79	FLGT	Fulgent Genetics	Pair Corr
0.69	FORA	Forian Inc	Pair Corr
0.62	BDX	Becton Dickinson	Pair Corr
0.6	FONR	Fonar	Pair Corr
0.59	AHG	Akso Health Group	Pair Corr
0.55	CON	Concentra Group Holdings	Pair Corr

Related Correlations Analysis

	OLLI	APPF	LOPE	NEWR	GMED
OLLI		0.36	0.11	0.43	-0.12	OLLI
APPF	0.36		0.63	0.49	0.26	APPF
LOPE	0.11	0.63		0.01	0.84	LOPE
NEWR	0.43	0.49	0.01		-0.32	NEWR
GMED	-0.12	0.26	0.84	-0.32		GMED
	OLLI	APPF	LOPE	NEWR	GMED

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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

GMED	+ 0.84	LOPE
LOPE	+ 0.63	APPF
NEWR	+ 0.49	APPF
NEWR	+ 0.43	OLLI
APPF	+ 0.36	OLLI
GMED	+ 0.26	APPF

High negative correlations

GMED	- 0.32	NEWR
GMED	- 0.12	OLLI

Risk-Adjusted Indicators

There is a big difference between HealthEquity Stock performing well and HealthEquity 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 HealthEquity'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
OLLI	1.56	(0.05)	(0.03)	0.07	2.08	(1.73)	3.66	(2.73)	11.93
APPF	1.45	(0.01)	0.01	0.11	2.17	(1.56)	2.86	(2.27)	15.04
LOPE	1.26	0.04	0.11	0.14	1.04	(1.55)	2.20	(2.06)	17.79
NEWR	1.58	(0.05)	0.00	(0.10)	0.00	0.00	2.68	(3.35)	18.35
GMED	1.01	0.11	0.12	0.22	0.77	(1.16)	1.82	(1.59)	11.18

HealthEquity Corporate Management

Delano JD	General VP	Profile
Cheryl King	Executive Officer	Profile
Tia Padia	Executive Officer	Profile
Richard Putnam	IR Contact Officer	Profile

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