GeneDx Holdings Correlations

WGS Stock

78.39 1.04 1.31%

The current 90-days correlation between GeneDx Holdings Corp and Nextgen Healthcare is -0.06 (i.e., Good diversification). The correlation of GeneDx Holdings 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.

GeneDx Holdings Correlation With Market

Significant diversification

The correlation between GeneDx Holdings Corp and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GeneDx Holdings Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in GeneDx Holdings Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with GeneDx Stock

0.9	MD	Mednax Inc	Pair Corr
0.65	OM	Outset Medical	Pair Corr
0.72	DOCS	Doximity	Pair Corr
0.77	VREX	Varex Imaging Corp	Pair Corr
0.86	ELMD	Electromed	Pair Corr
0.77	BSX	Boston Scientific Corp Sell-off Trend	Pair Corr
0.82	LNSR	LENSAR Inc	Pair Corr
0.73	PODD	Insulet	Pair Corr
0.75	AORT	Artivion	Pair Corr
0.7	TCMD	Tactile Systems Tech	Pair Corr
0.86	BWAY	Brainsway	Pair Corr

Moving against GeneDx Stock

0.88	EKSO	Ekso Bionics Holdings	Pair Corr
0.79	CI	Cigna Corp	Pair Corr
0.75	VERO	Venus Concept	Pair Corr
0.74	LIFWW	MSP Recovery	Pair Corr
0.67	IRIX	IRIDEX	Pair Corr
0.59	KIDS	Orthopediatrics Corp	Pair Corr
0.9	TNDM	Tandem Diabetes Care	Pair Corr
0.81	ME	23Andme Holding Upward Rally	Pair Corr
0.8	VALN	Valneva SE ADR	Pair Corr
0.61	AIMD	Ainos Inc	Pair Corr
0.55	ALGN	Align Technology	Pair Corr
0.5	A	Agilent Technologies Sell-off Trend	Pair Corr

Related Correlations Analysis

	NXGN	PRVA	AGTI	HSTM	CERT	MDRX	NRC	CPSI	DH
NXGN		0.3	0.2	-0.02	0.22	0.43	0.43	0.71	0.31	NXGN
PRVA	0.3		-0.35	0.87	-0.18	0.79	0.0	0.15	0.21	PRVA
AGTI	0.2	-0.35		-0.29	0.42	-0.06	-0.08	0.42	0.28	AGTI
HSTM	-0.02	0.87	-0.29		-0.32	0.76	-0.26	-0.12	0.14	HSTM
CERT	0.22	-0.18	0.42	-0.32		0.01	0.55	0.46	0.58	CERT
MDRX	0.43	0.79	-0.06	0.76	0.01		0.08	0.31	0.28	MDRX
NRC	0.43	0.0	-0.08	-0.26	0.55	0.08		0.26	0.47	NRC
CPSI	0.71	0.15	0.42	-0.12	0.46	0.31	0.26		0.24	CPSI
DH	0.31	0.21	0.28	0.14	0.58	0.28	0.47	0.24		DH
	NXGN	PRVA	AGTI	HSTM	CERT	MDRX	NRC	CPSI	DH

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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

HSTM	+ 0.87	PRVA
MDRX	+ 0.79	PRVA
MDRX	+ 0.76	HSTM
CPSI	+ 0.71	NXGN
DH	+ 0.58	CERT
NRC	+ 0.55	CERT

High negative correlations

AGTI	- 0.35	PRVA
CERT	- 0.32	HSTM
HSTM	- 0.29	AGTI
NRC	- 0.26	HSTM
CERT	- 0.18	PRVA
CPSI	- 0.12	HSTM

Risk-Adjusted Indicators

There is a big difference between GeneDx Stock performing well and GeneDx Holdings 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 GeneDx Holdings' 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
NXGN	1.10	(0.13)	0.00	(0.85)	0.00	0.00	2.81	(2.35)	7.28
PRVA	1.99	(0.13)	(0.01)	0.05	2.22	(2.16)	4.23	(3.57)	15.04
AGTI	2.06	0.06	(0.04)	(0.04)	2.87	(1.81)	4.03	(4.45)	10.75
HSTM	1.21	0.10	0.06	0.24	1.31	(1.29)	2.33	(2.00)	10.49
CERT	1.93	(0.38)	0.00	(0.07)	0.00	0.00	5.82	(3.98)	15.96
MDRX	1.27	0.04	(0.01)	0.21	2.08	(1.14)	2.58	(3.07)	8.73
NRC	1.97	(0.37)	0.00	(0.08)	0.00	0.00	3.79	(4.72)	13.17
CPSI	1.50	(0.22)	0.00	(0.35)	0.00	0.00	2.85	(3.01)	14.25
DH	2.06	(0.13)	(0.01)	0.06	2.44	(2.24)	4.37	(4.00)	13.20

GeneDx Holdings Corporate Management

Daniel JD	Secretary	Profile
Britt Johnson	Head Affairs	Profile
Jami Biliboaca	Head Strategy	Profile
Eric Olivares	Chief Officer	Profile
Tricia Truehart	Head Relations	Profile
MBA JD	General Counsel	Profile

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