Alignment Healthcare Correlations

ALHC Stock

USD 12.41 0.74 5.63%

The current 90-days correlation between Alignment Healthcare LLC and Oscar Health is 0.03 (i.e., Significant 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

Modest diversification

The correlation between Alignment Healthcare LLC and DJI is 0.23 (i.e., Modest 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.

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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

0.66	CI	Cigna Corp	Pair Corr
0.72	EKSO	Ekso Bionics Holdings	Pair Corr
0.71	ELMD	Electromed	Pair Corr
0.64	ICCM	Icecure Medical	Pair Corr
0.71	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.7	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.79	MNDR	Mobile health Network	Pair Corr

Moving against Alignment Stock

0.88	DH	Definitive Healthcare	Pair Corr
0.84	FIGS	Figs Inc	Pair Corr
0.81	DXCM	DexCom Inc Earnings Call This Week	Pair Corr
0.79	LH	Laboratory Earnings Call This Week	Pair Corr
0.79	OM	Outset Medical	Pair Corr
0.76	VEEV	Veeva Systems Class	Pair Corr
0.73	ENSG	Ensign Group Earnings Call This Week	Pair Corr
0.64	EW	Edwards Lifesciences Corp Earnings Call This Week	Pair Corr
0.64	VNRX	Volitionrx	Pair Corr
0.58	DOCS	Doximity	Pair Corr
0.57	VVOS	Vivos Therapeutics	Pair Corr
0.31	ABT	Abbott Laboratories	Pair Corr
0.81	A	Agilent Technologies	Pair Corr
0.75	MDAI	Spectral AI	Pair Corr
0.71	VANI	Vivani Medical	Pair Corr
0.68	NEUE	NeueHealth	Pair Corr
0.65	STRM	Streamline Health	Pair Corr
0.62	MODV	ModivCare	Pair Corr
0.6	NAKA	Kindly MD, Symbol Change	Pair Corr
0.59	MHUA	Meihua International	Pair Corr
0.4	MGRM	Monogram Orthopaedics Trending	Pair Corr

Related Correlations Analysis

	OSCR	MOH	CNC	NEUE	ELV	PRVA	LFST	AGL	AVAH
OSCR		-0.12	-0.11	0.5	-0.26	-0.12	-0.57	-0.56	0.27	OSCR
MOH	-0.12		0.98	-0.34	0.92	0.85	0.82	0.52	0.57	MOH
CNC	-0.11	0.98		-0.31	0.87	0.84	0.79	0.44	0.61	CNC
NEUE	0.5	-0.34	-0.31		-0.49	-0.28	-0.52	-0.66	0.2	NEUE
ELV	-0.26	0.92	0.87	-0.49		0.77	0.86	0.71	0.31	ELV
PRVA	-0.12	0.85	0.84	-0.28	0.77		0.72	0.39	0.72	PRVA
LFST	-0.57	0.82	0.79	-0.52	0.86	0.72		0.75	0.3	LFST
AGL	-0.56	0.52	0.44	-0.66	0.71	0.39	0.75		-0.26	AGL
AVAH	0.27	0.57	0.61	0.2	0.31	0.72	0.3	-0.26		AVAH
	OSCR	MOH	CNC	NEUE	ELV	PRVA	LFST	AGL	AVAH

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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

CNC	+ 0.98	MOH
ELV	+ 0.92	MOH
ELV	+ 0.87	CNC
LFST	+ 0.86	ELV
PRVA	+ 0.85	MOH
PRVA	+ 0.84	CNC

High negative correlations

AGL	- 0.66	NEUE
LFST	- 0.57	OSCR
AGL	- 0.56	OSCR
LFST	- 0.52	NEUE
ELV	- 0.49	NEUE
NEUE	- 0.34	MOH

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
OSCR	3.98	0.13	0.03	0.23	4.41	(4.98)	10.60	(7.46)	48.95
MOH	2.29	(1.08)	0.00	(0.67)	0.00	0.00	3.38	(5.48)	28.28
CNC	2.35	(1.21)	0.00	(0.83)	0.00	0.00	3.14	(4.43)	45.80
NEUE	0.79	0.02	(0.08)	0.27	0.99	(1.04)	1.72	(1.89)	6.11
ELV	1.95	(0.81)	0.00	(0.56)	0.00	0.00	2.64	(8.38)	16.42
PRVA	1.49	(0.44)	0.00	(0.27)	0.00	0.00	2.47	(3.03)	10.94
LFST	2.10	(0.89)	0.00	(0.44)	0.00	0.00	3.92	(4.52)	20.17
AGL	3.80	(1.41)	0.00	(1.31)	0.00	0.00	5.96	(9.09)	36.10
AVAH	2.49	(0.48)	0.00	(0.10)	0.00	0.00	4.26	(4.84)	24.91

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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