Performant Financial Correlations

PFMT Stock

USD 3.08 0.16 5.48%

The current 90-days correlation between Performant Financial and PFSweb Inc is -0.02 (i.e., Good diversification). The correlation of Performant Financial 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.

Performant Financial Correlation With Market

Good diversification

The correlation between Performant Financial and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Performant Financial and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Performant Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

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

Moving against Performant Stock

0.62	INOD	Innodata Tech Boost	Pair Corr
0.61	KAR	KAR Auction Services	Pair Corr
0.51	SPIR	Spire Global Symbol Change	Pair Corr
0.51	CSGS	CSG Systems International	Pair Corr
0.49	DIST	Distoken Acquisition	Pair Corr
0.48	AL	Air Lease	Pair Corr
0.39	R	Ryder System	Pair Corr
0.38	DRVN	Driven Brands Holdings	Pair Corr
0.38	UNF	Unifirst	Pair Corr
0.35	PYCR	Paycor HCM	Pair Corr
0.34	ACU	Acme United	Pair Corr
0.33	TASK	Taskus Inc	Pair Corr
0.78	BE	Bloom Energy Corp	Pair Corr
0.73	PL	Planet Labs PBC	Pair Corr
0.56	HI	Hillenbrand	Pair Corr
0.48	CR	Crane Company	Pair Corr
0.33	PH	Parker Hannifin	Pair Corr

Related Correlations Analysis

	NTIP	RTO	WHLM	MADGF	FA	PFSW	DPUI	CASS	CVEO	MMS
NTIP		0.46	0.84	0.18	0.33	-0.6	-0.07	-0.32	0.48	0.2	NTIP
RTO	0.46		0.67	0.85	-0.21	-0.21	-0.08	0.06	0.03	0.12	RTO
WHLM	0.84	0.67		0.39	0.38	-0.68	-0.22	-0.34	0.48	0.32	WHLM
MADGF	0.18	0.85	0.39		-0.39	0.03	0.0	0.13	-0.14	-0.09	MADGF
FA	0.33	-0.21	0.38	-0.39		-0.66	-0.26	-0.54	0.62	0.52	FA
PFSW	-0.6	-0.21	-0.68	0.03	-0.66		0.18	0.57	-0.7	-0.49	PFSW
DPUI	-0.07	-0.08	-0.22	0.0	-0.26	0.18		0.14	0.03	0.04	DPUI
CASS	-0.32	0.06	-0.34	0.13	-0.54	0.57	0.14		-0.59	-0.37	CASS
CVEO	0.48	0.03	0.48	-0.14	0.62	-0.7	0.03	-0.59		0.65	CVEO
MMS	0.2	0.12	0.32	-0.09	0.52	-0.49	0.04	-0.37	0.65		MMS
	NTIP	RTO	WHLM	MADGF	FA	PFSW	DPUI	CASS	CVEO	MMS

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MADGF	+ 0.85	RTO
WHLM	+ 0.84	NTIP
WHLM	+ 0.67	RTO
MMS	+ 0.65	CVEO
CVEO	+ 0.62	FA
CASS	+ 0.57	PFSW

High negative correlations

CVEO	- 0.7	PFSW
PFSW	- 0.68	WHLM
PFSW	- 0.66	FA
PFSW	- 0.6	NTIP
CVEO	- 0.59	CASS
CASS	- 0.54	FA

Risk-Adjusted Indicators

There is a big difference between Performant Stock performing well and Performant Financial 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 Performant Financial'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
NTIP	1.92	(0.12)	0.00	(0.31)	0.00	0.00	3.88	(4.37)	32.25
RTO	1.59	(0.35)	0.00	(0.47)	0.00	0.00	2.40	(2.69)	22.43
WHLM	2.94	(0.56)	0.00	(4.36)	0.00	0.00	6.54	(8.01)	39.65
MADGF	0.49	(0.11)	0.00	1.52	0.00	0.00	0.30	0.00	16.41
FA	1.29	(0.07)	(0.04)	0.05	1.57	(1.39)	2.96	(3.01)	9.66
PFSW	2.08	0.27	0.02	(0.32)	2.81	(2.29)	5.84	(5.09)	17.10
DPUI	12.94	1.69	0.07	1.06	12.33	(37.50)	33.33	(25.00)	125.00
CASS	1.33	(0.06)	0.01	0.08	1.57	(1.56)	2.97	(2.97)	9.44
CVEO	1.40	(0.23)	0.00	(0.10)	0.00	0.00	2.24	(3.21)	11.81
MMS	1.11	(0.38)	0.00	(0.54)	0.00	0.00	1.76	(2.50)	10.19

Performant Financial Corporate Management

Amanda Purvis	Senior Innovation	Profile
Richard Zubek	Investor Professional	Profile
Melissa Christ	Chief Officer	Profile
Rohit Ramchandani	Chief Officer	Profile
Scott Putnam	Vice Sales	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC