Veeva Systems Correlations

VEEV Stock

USD 226.76 0.00 0.00%

The current 90-days correlation between Veeva Systems Class and Progyny is 0.22 (i.e., Modest diversification). The correlation of Veeva Systems 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.

Veeva Systems Correlation With Market

Very weak diversification

The correlation between Veeva Systems Class and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Veeva Systems Class 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 Veeva Systems Class. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Veeva Stock

0.64

CAH

Cardinal Health

Pair Corr

Moving against Veeva Stock

0.5	AHG	Akso Health Group	Pair Corr
0.43	FIGS	Figs Inc	Pair Corr
0.4	AMN	AMN Healthcare Services	Pair Corr
0.38	ALC	Alcon AG	Pair Corr
0.35	EKSO	Ekso Bionics Holdings	Pair Corr
0.54	XRAY	Dentsply Sirona	Pair Corr
0.48	CNC	Centene Corp Sell-off Trend	Pair Corr
0.44	EVH	Evolent Health	Pair Corr
0.41	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.35	DHR	Danaher	Pair Corr
0.34	FORA	Forian Inc	Pair Corr
0.33	ELV	Elevance Health Fiscal Year End 22nd of January 2025	Pair Corr
0.46	XTNT	Xtant Medical Holdings	Pair Corr
0.44	ZJYL	JIN MEDICAL INTERNATIONAL	Pair Corr
0.43	TFX	Teleflex Incorporated	Pair Corr
0.34	IDXX	IDEXX Laboratories	Pair Corr

Related Correlations Analysis

	PGNY	TDOC	GDRX	TXG	SDGR	DOCS	AMWL	GEHC	CERT
PGNY		-0.67	0.74	0.73	0.48	-0.63	-0.3	-0.12	0.52	PGNY
TDOC	-0.67		-0.71	-0.68	-0.13	0.69	0.38	-0.01	-0.45	TDOC
GDRX	0.74	-0.71		0.81	0.01	-0.86	0.11	0.38	0.7	GDRX
TXG	0.73	-0.68	0.81		0.27	-0.67	-0.07	0.3	0.58	TXG
SDGR	0.48	-0.13	0.01	0.27		0.0	-0.54	-0.62	0.22	SDGR
DOCS	-0.63	0.69	-0.86	-0.67	0.0		0.0	-0.25	-0.45	DOCS
AMWL	-0.3	0.38	0.11	-0.07	-0.54	0.0		0.72	-0.03	AMWL
GEHC	-0.12	-0.01	0.38	0.3	-0.62	-0.25	0.72		0.14	GEHC
CERT	0.52	-0.45	0.7	0.58	0.22	-0.45	-0.03	0.14		CERT
	PGNY	TDOC	GDRX	TXG	SDGR	DOCS	AMWL	GEHC	CERT

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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

TXG	+ 0.81	GDRX
GDRX	+ 0.74	PGNY
TXG	+ 0.73	PGNY
GEHC	+ 0.72	AMWL
CERT	+ 0.7	GDRX
DOCS	+ 0.69	TDOC

High negative correlations

DOCS	- 0.86	GDRX
GDRX	- 0.71	TDOC
TXG	- 0.68	TDOC
DOCS	- 0.67	TXG
TDOC	- 0.67	PGNY
DOCS	- 0.63	PGNY

Risk-Adjusted Indicators

There is a big difference between Veeva Stock performing well and Veeva Systems 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 Veeva Systems' 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
PGNY	2.57	(0.46)	0.00	(0.58)	0.00	0.00	4.22	(3.12)	38.70
TDOC	3.24	0.52	0.20	0.38	2.85	(3.89)	8.51	(4.68)	18.02
GDRX	2.24	(0.95)	0.00	(0.47)	0.00	0.00	3.05	(4.74)	22.91
TXG	2.97	(0.72)	0.00	(0.35)	0.00	0.00	4.94	(5.62)	31.04
SDGR	2.44	(0.10)	(0.01)	0.06	3.16	(2.55)	6.04	(4.75)	22.85
DOCS	2.31	0.53	0.19	0.56	2.24	(2.54)	5.15	(3.81)	43.10
AMWL	2.64	(0.14)	(0.01)	0.04	3.42	(2.73)	5.91	(5.90)	18.59
GEHC	1.01	(0.05)	0.00	(0.26)	0.00	0.00	2.26	(2.52)	6.66
CERT	1.95	(0.51)	0.00	(0.13)	0.00	0.00	5.82	(4.01)	15.96

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