Alignment Healthcare Correlations

ALHC Stock

USD 18.45 1.20 6.11%

The current 90-days correlation between Alignment Healthcare LLC and GRAIL LLC is 0.17 (i.e., Average diversification). The correlation of Alignment Healthcare 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.

Alignment Healthcare Correlation With Market

Very weak diversification

The correlation between Alignment Healthcare LLC and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alignment Healthcare LLC and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alignment Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alignment Healthcare LLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Alignment Stock

0.69

Guardant Health

Pair Corr

Moving against Alignment Stock

0.36	CV	CapsoVision Common Stock	Pair Corr
0.32	ELM	Element Lifestyle	Pair Corr
0.68	FMEA	Fresenius Medical Care	Pair Corr
0.32	PXS	Paragon Care Limited	Pair Corr
0.77	EHC	Encompass Health Corp	Pair Corr
0.61	FMS	Fresenius Medical Care	Pair Corr
0.42	CYH	Community Health Systems	Pair Corr
0.34	HQY	HealthEquity	Pair Corr
0.31	DVA	DaVita HealthCare	Pair Corr

Related Correlations Analysis

	GRAL	OSCR	DYN	NVST	ICUI	SLNO	MIRM	PRVA	RARE	APGE
GRAL		0.5	0.45	-0.5	0.0	0.32	-0.17	0.1	0.2	0.16	GRAL
OSCR	0.5		0.59	-0.7	-0.15	0.63	-0.67	0.67	0.48	0.64	OSCR
DYN	0.45	0.59		-0.86	-0.37	0.9	-0.75	0.63	0.78	0.33	DYN
NVST	-0.5	-0.7	-0.86		0.35	-0.86	0.76	-0.63	-0.67	-0.46	NVST
ICUI	0.0	-0.15	-0.37	0.35		-0.42	0.53	-0.24	-0.41	-0.08	ICUI
SLNO	0.32	0.63	0.9	-0.86	-0.42		-0.89	0.67	0.86	0.49	SLNO
MIRM	-0.17	-0.67	-0.75	0.76	0.53	-0.89		-0.78	-0.79	-0.51	MIRM
PRVA	0.1	0.67	0.63	-0.63	-0.24	0.67	-0.78		0.55	0.53	PRVA
RARE	0.2	0.48	0.78	-0.67	-0.41	0.86	-0.79	0.55		0.24	RARE
APGE	0.16	0.64	0.33	-0.46	-0.08	0.49	-0.51	0.53	0.24		APGE
	GRAL	OSCR	DYN	NVST	ICUI	SLNO	MIRM	PRVA	RARE	APGE

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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

SLNO	+ 0.9	DYN
RARE	+ 0.86	SLNO
RARE	+ 0.78	DYN
MIRM	+ 0.76	NVST
PRVA	+ 0.67	OSCR
PRVA	+ 0.67	SLNO

High negative correlations

MIRM	- 0.89	SLNO
SLNO	- 0.86	NVST
NVST	- 0.86	DYN
RARE	- 0.79	MIRM
PRVA	- 0.78	MIRM
MIRM	- 0.75	DYN

Risk-Adjusted Indicators

There is a big difference between Alignment Stock performing well and Alignment Healthcare 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 Alignment Healthcare'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
GRAL	4.69	(0.75)	0.00	(0.22)	0.00	0.00	8.60	(9.62)	65.38
OSCR	2.60	(0.31)	0.00	(0.18)	0.00	0.00	5.48	(5.37)	16.63
DYN	2.96	(0.50)	0.00	(0.39)	0.00	0.00	6.78	(5.90)	26.40
NVST	1.80	0.59	0.32	2.11	1.29	(2.18)	4.21	(2.87)	22.69
ICUI	1.49	(0.14)	0.00	(0.06)	0.00	0.00	4.04	(3.48)	8.49
SLNO	2.38	(0.42)	0.00	(0.41)	0.00	0.00	4.93	(4.91)	16.87
MIRM	2.08	0.33	0.08	0.73	3.38	(2.05)	4.60	(4.16)	25.74
PRVA	1.60	(0.08)	0.00	(0.03)	0.00	0.00	4.14	(4.14)	14.63
RARE	3.10	(0.43)	0.00	(0.30)	0.00	0.00	7.36	(4.30)	51.23
APGE	2.00	(0.03)	0.00	(0.05)	0.00	0.00	4.97	(4.24)	20.16

Alignment Healthcare Corporate Management

Lisa Ferrari	Senior California	Profile
Kerry Matsumoto	Senior Product	Profile
Randall Fitzpatrick	Senior Product	Profile
David Milligan	Senior California	Profile
Amanda Root	VP Communications	Profile
Robert Scavo	Chief Officer	Profile

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