Teladoc Correlations

TDOC Stock

USD 11.43 0.06 0.53%

The current 90-days correlation between Teladoc and Privia Health Group is 0.33 (i.e., Weak diversification). The correlation of Teladoc 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.

Teladoc Correlation With Market

Weak diversification

The correlation between Teladoc and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Teladoc and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade Teladoc Stock refer to our How to Trade Teladoc Stock guide.

Moving together with Teladoc Stock

0.67	MD	Mednax Inc	Pair Corr
0.7	OM	Outset Medical	Pair Corr
0.7	DOCS	Doximity Sell-off Trend	Pair Corr
0.65	VREX	Varex Imaging Corp	Pair Corr
0.61	ECOR	Electrocore LLC	Pair Corr
0.85	ELMD	Electromed	Pair Corr
0.67	WORX	Scworx Corp	Pair Corr

Moving against Teladoc Stock

0.73	ELAB	Elevai Labs, Common	Pair Corr
0.7	EDAP	EDAP TMS SA	Pair Corr
0.66	EKSO	Ekso Bionics Holdings	Pair Corr
0.5	VERO	Venus Concept	Pair Corr
0.44	CI	Cigna Corp	Pair Corr
0.37	EHAB	Enhabit	Pair Corr
0.36	VTAK	Catheter Precision	Pair Corr
0.72	AMN	AMN Healthcare Services	Pair Corr
0.65	BKD	Brookdale Senior Living	Pair Corr
0.62	BAX	Baxter International	Pair Corr
0.61	AGL	agilon health	Pair Corr
0.6	FLGT	Fulgent Genetics	Pair Corr
0.57	AWH	Aspira Womens Health	Pair Corr
0.56	ALC	Alcon AG	Pair Corr
0.42	BDX	Becton Dickinson	Pair Corr

Related Correlations Analysis

	PRVA	HSTM	CERT	NRC	DH	EUDA	ACON	HCTI	FOXO
PRVA		0.85	-0.12	0.03	0.19	0.29	0.04	0.64	0.79	PRVA
HSTM	0.85		-0.34	-0.26	0.07	0.29	-0.18	0.64	0.87	HSTM
CERT	-0.12	-0.34		0.56	0.58	-0.03	0.4	-0.47	-0.39	CERT
NRC	0.03	-0.26	0.56		0.5	-0.35	0.12	-0.45	-0.18	NRC
DH	0.19	0.07	0.58	0.5		-0.09	0.17	-0.39	0.0	DH
EUDA	0.29	0.29	-0.03	-0.35	-0.09		0.44	0.44	0.18	EUDA
ACON	0.04	-0.18	0.4	0.12	0.17	0.44		-0.01	-0.24	ACON
HCTI	0.64	0.64	-0.47	-0.45	-0.39	0.44	-0.01		0.58	HCTI
FOXO	0.79	0.87	-0.39	-0.18	0.0	0.18	-0.24	0.58		FOXO
	PRVA	HSTM	CERT	NRC	DH	EUDA	ACON	HCTI	FOXO

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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

FOXO	+ 0.87	HSTM
HSTM	+ 0.85	PRVA
FOXO	+ 0.79	PRVA
HCTI	+ 0.64	PRVA
HCTI	+ 0.64	HSTM
DH	+ 0.58	CERT

High negative correlations

HCTI	- 0.47	CERT
HCTI	- 0.45	NRC
HCTI	- 0.39	DH
FOXO	- 0.39	CERT
EUDA	- 0.35	NRC
CERT	- 0.34	HSTM

Risk-Adjusted Indicators

There is a big difference between Teladoc Stock performing well and Teladoc 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 Teladoc'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
PRVA	2.00	(0.12)	(0.01)	0.05	2.23	(2.16)	4.23	(3.57)	15.04
HSTM	1.22	0.10	0.06	0.22	1.32	(1.32)	2.33	(2.00)	10.49
CERT	2.00	(0.43)	0.00	(0.11)	0.00	0.00	5.82	(4.01)	15.96
NRC	1.96	(0.36)	0.00	(0.09)	0.00	0.00	3.79	(4.72)	13.17
DH	2.05	(0.14)	(0.02)	0.04	2.41	(2.26)	4.37	(4.00)	13.20
EUDA	4.66	0.01	(0.01)	0.13	6.80	(4.47)	9.70	(10.50)	26.33
ACON	4.20	(0.50)	0.00	(0.11)	0.00	0.00	11.11	(10.00)	35.83
HCTI	8.07	1.22	0.10	259.05	9.41	(11.10)	9.92	(18.35)	142.49
FOXO	17.44	2.13	0.47	0.17	9.51	(36.66)	35.14	(10.00)	509.71

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