Doximity Correlations

DOCS Stock

USD 52.10 0.00 0.00%

The current 90-days correlation between Doximity and 10X Genomics is 0.61 (i.e., Poor diversification). The correlation of Doximity 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.

Doximity Correlation With Market

Poor diversification

The correlation between Doximity and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doximity and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Doximity Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Doximity. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

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

Moving together with Doximity Stock

0.64	DH	Definitive Healthcare	Pair Corr
0.63	LH	Laboratory	Pair Corr
0.61	MD	Mednax Inc	Pair Corr
0.72	VNRX	Volitionrx	Pair Corr
0.81	VREX	Varex Imaging Corp	Pair Corr
0.79	VSEE	VSee Health, Symbol Change	Pair Corr
0.85	ECOR	Electrocore LLC	Pair Corr
0.85	VVOS	Vivos Therapeutics	Pair Corr
0.86	EDAP	EDAP TMS SA	Pair Corr
0.74	EKSO	Ekso Bionics Holdings	Pair Corr
0.84	ELAB	Elevai Labs, Common	Pair Corr
0.84	ELMD	Electromed	Pair Corr
0.77	EMBC	Embecta Corp	Pair Corr
0.85	FEMY	Femasys	Pair Corr
0.78	FIGS	Figs Inc	Pair Corr
0.73	XAIR	Beyond Air	Pair Corr
0.87	AVR	Anteris Technologies Upward Rally	Pair Corr
0.78	BAX	Baxter International	Pair Corr
0.72	BVS	Bioventus	Pair Corr
0.68	FONR	Fonar	Pair Corr

Moving against Doximity Stock

0.62	CI	Cigna Corp Sell-off Trend	Pair Corr
0.52	CNC	Centene Corp	Pair Corr
0.45	CAH	Cardinal Health	Pair Corr
0.41	ELV	Elevance Health	Pair Corr
0.38	EHC	Encompass Health Corp	Pair Corr

Related Correlations Analysis

	TDOC	SDGR	TXG	PGNY	CERT	HQY	RCM	VEEV	AMWL
TDOC		-0.26	0.86	0.08	-0.07	0.7	0.0	0.02	0.93	TDOC
SDGR	-0.26		-0.17	0.17	0.87	-0.07	0.0	0.12	-0.06	SDGR
TXG	0.86	-0.17		-0.19	-0.12	0.77	0.0	0.36	0.77	TXG
PGNY	0.08	0.17	-0.19		0.26	-0.03	0.0	-0.15	0.18	PGNY
CERT	-0.07	0.87	-0.12	0.26		0.06	0.0	-0.14	0.17	CERT
HQY	0.7	-0.07	0.77	-0.03	0.06		0.0	0.32	0.75	HQY
RCM	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	RCM
VEEV	0.02	0.12	0.36	-0.15	-0.14	0.32	0.0		-0.02	VEEV
AMWL	0.93	-0.06	0.77	0.18	0.17	0.75	0.0	-0.02		AMWL
	TDOC	SDGR	TXG	PGNY	CERT	HQY	RCM	VEEV	AMWL

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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

AMWL	+ 0.93	TDOC
CERT	+ 0.87	SDGR
TXG	+ 0.86	TDOC
HQY	+ 0.77	TXG
AMWL	+ 0.77	TXG
AMWL	+ 0.75	HQY

High negative correlations

SDGR	- 0.26	TDOC
PGNY	- 0.19	TXG
TXG	- 0.17	SDGR
VEEV	- 0.15	PGNY
VEEV	- 0.14	CERT
CERT	- 0.12	TXG

Risk-Adjusted Indicators

There is a big difference between Doximity Stock performing well and Doximity 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 Doximity'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
TDOC	2.58	(0.77)	0.00	(0.66)	0.00	0.00	3.99	(5.49)	18.18
SDGR	3.30	0.04	0.00	(0.05)	0.00	0.00	8.37	(5.67)	36.73
TXG	3.98	(0.21)	0.00	(0.18)	0.00	0.00	4.94	(8.94)	32.62
PGNY	1.64	(0.15)	0.00	(0.31)	0.00	0.00	2.70	(3.59)	14.21
CERT	2.70	(0.10)	0.00	(0.19)	0.00	0.00	7.51	(4.45)	33.87
HQY	2.37	(0.02)	0.00	(0.10)	0.00	0.00	4.05	(5.11)	20.73
RCM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VEEV	1.62	0.11	0.07	0.05	1.85	(1.72)	3.49	(2.90)	10.89
AMWL	3.21	(0.49)	0.00	(0.43)	0.00	0.00	5.41	(7.11)	30.64

Doximity Corporate Management

Perry Gold	Head Relations	Profile
Paul Jorgensen	Chief Officer	Profile
Jim Rivas	Head Communications	Profile
Joel Davis	Senior Product	Profile
Jennifer JD	General Secretary	Profile
Bruno Miranda	Senior Engineering	Profile

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