Health Catalyst Correlations

HCAT Stock

USD 3.34 0.06 1.83%

The current 90-days correlation between Health Catalyst and Definitive Healthcare Corp is 0.62 (i.e., Poor diversification). The correlation of Health Catalyst 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.

Health Catalyst Correlation With Market

Very weak diversification

The correlation between Health Catalyst and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Health Catalyst and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Health Stock

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

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

Moving together with Health Stock

0.85	OM	Outset Medical	Pair Corr
0.8	DRIO	DarioHealth Corp	Pair Corr
0.61	VSEE	VSee Health,	Pair Corr
0.61	ELAB	Elevai Labs, Common	Pair Corr
0.86	HAE	Haemonetics	Pair Corr

Moving against Health Stock

0.69	VREX	Varex Imaging Corp	Pair Corr
0.56	MD	Mednax Inc	Pair Corr
0.55	GH	Guardant Health	Pair Corr
0.55	LH	Laboratory	Pair Corr
0.45	DOCS	Doximity	Pair Corr
0.33	EW	Edwards Lifesciences Corp	Pair Corr
0.74	EMBC	Embecta Corp	Pair Corr
0.71	ENSG	Ensign Group	Pair Corr
0.48	FIGS	Figs Inc	Pair Corr
0.45	CVS	CVS Health Corp Sell-off Trend	Pair Corr
0.4	AHG	Akso Health Group	Pair Corr
0.83	INFU	InfuSystems Holdings	Pair Corr
0.78	HUM	Humana Inc	Pair Corr
0.65	MBOT	Microbot Medical Trending	Pair Corr
0.32	VMD	Viemed Healthcare	Pair Corr

Related Correlations Analysis

	DH	HSTM	TBRG	CERT	PHR	LOB	APPF	HQY	PGNY
DH		-0.43	-0.3	-0.26	0.73	0.66	0.49	-0.24	0.65	DH
HSTM	-0.43		0.76	0.74	-0.26	-0.55	-0.83	0.75	-0.49	HSTM
TBRG	-0.3	0.76		0.52	-0.42	-0.71	-0.75	0.8	-0.5	TBRG
CERT	-0.26	0.74	0.52		0.06	-0.25	-0.62	0.53	-0.29	CERT
PHR	0.73	-0.26	-0.42	0.06		0.71	0.43	-0.27	0.5	PHR
LOB	0.66	-0.55	-0.71	-0.25	0.71		0.68	-0.71	0.73	LOB
APPF	0.49	-0.83	-0.75	-0.62	0.43	0.68		-0.76	0.66	APPF
HQY	-0.24	0.75	0.8	0.53	-0.27	-0.71	-0.76		-0.56	HQY
PGNY	0.65	-0.49	-0.5	-0.29	0.5	0.73	0.66	-0.56		PGNY
	DH	HSTM	TBRG	CERT	PHR	LOB	APPF	HQY	PGNY

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

HQY	+ 0.8	TBRG
TBRG	+ 0.76	HSTM
HQY	+ 0.75	HSTM
CERT	+ 0.74	HSTM
PHR	+ 0.73	DH
PGNY	+ 0.73	LOB

High negative correlations

APPF	- 0.83	HSTM
HQY	- 0.76	APPF
APPF	- 0.75	TBRG
HQY	- 0.71	LOB
LOB	- 0.71	TBRG
APPF	- 0.62	CERT

Risk-Adjusted Indicators

There is a big difference between Health Stock performing well and Health Catalyst 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 Health Catalyst'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
DH	2.53	0.09	0.07	0.12	3.13	(2.62)	6.73	(4.85)	17.42
HSTM	1.07	(0.15)	0.00	(0.05)	0.00	0.00	2.16	(2.24)	5.30
TBRG	1.72	(0.42)	0.00	(0.19)	0.00	0.00	3.31	(4.03)	14.08
CERT	2.49	(0.14)	(0.02)	0.01	3.03	(2.69)	4.73	(4.30)	22.45
PHR	2.08	0.07	0.06	0.13	2.52	(2.16)	3.83	(4.11)	11.65
LOB	1.68	0.25	0.18	0.20	1.63	(1.86)	4.46	(2.85)	9.38
APPF	1.72	0.41	0.16	5.92	1.73	(2.08)	3.27	(3.31)	25.02
HQY	1.51	(0.20)	0.00	(0.44)	0.00	0.00	2.93	(3.51)	15.09
PGNY	1.91	0.03	0.02	0.12	2.34	(1.85)	3.77	(4.34)	17.96

Health Catalyst Corporate Management

Neil Andersen	Western Accounts	Profile
Kevin Freeman	Chief Officer	Profile
Paul Horstmeier	Chief Officer	Profile
Adam Brown	Senior Analysis	Profile
Jeffrey Selander	Senior International	Profile
Daniel LeSueur	Chief Officer	Profile
Jason Jones	Chief Platform	Profile

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