Viemed Healthcare Correlations

VMD Stock

USD 8.71 0.17 1.99%

The current 90-days correlation between Viemed Healthcare and Profound Medical Corp is -0.11 (i.e., Good diversification). The correlation of Viemed 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.

Viemed Healthcare Correlation With Market

Very weak diversification

The correlation between Viemed Healthcare and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Viemed Healthcare and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Viemed Healthcare. 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 information on how to trade Viemed Stock refer to our How to Trade Viemed Stock guide.

Moving together with Viemed Stock

0.86	WGS	GeneDx Holdings Corp	Pair Corr
0.87	HIMS	Hims Hers Health Upward Rally	Pair Corr

Moving against Viemed Stock

0.77	AGL	agilon health	Pair Corr
0.76	IDXX	IDEXX Laboratories	Pair Corr
0.74	ELAB	Elevai Labs, Common	Pair Corr
0.65	GCTK	GlucoTrack	Pair Corr
0.61	TFX	Teleflex Incorporated	Pair Corr
0.87	ACHC	Acadia Healthcare	Pair Corr
0.79	STSS	Sharps Technology Trending	Pair Corr
0.78	NVNO	enVVeno Medical Corp	Pair Corr
0.75	NEOG	Neogen	Pair Corr
0.74	ME	23Andme Holding	Pair Corr
0.73	AIEV	Thunder Power Holdings, Symbol Change	Pair Corr
0.54	ATPC	Agape ATP	Pair Corr
0.53	SNDA	Sonida Senior Living	Pair Corr
0.47	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.44	CMAXW	CareMax	Pair Corr
0.41	MODV	ModivCare	Pair Corr
0.41	ADUS	Addus HomeCare	Pair Corr
0.41	AMED	Amedisys	Pair Corr
0.37	UTMD	Utah Medical Products	Pair Corr
0.9	VINC	Vincerx Pharma	Pair Corr
0.71	VCNX	Vaccinex	Pair Corr

Related Correlations Analysis

	PROF	SIBN	IRIX	SRDX	TBIO	RCEL	CLPT	SGHT	TMCI	FNA
PROF		0.61	0.45	0.61	0.15	-0.32	0.01	0.23	0.45	0.54	PROF
SIBN	0.61		0.5	0.59	0.27	-0.4	0.21	0.55	0.15	0.3	SIBN
IRIX	0.45	0.5		0.76	0.59	-0.54	-0.11	0.62	-0.09	0.51	IRIX
SRDX	0.61	0.59	0.76		0.61	-0.39	-0.2	0.51	0.21	0.58	SRDX
TBIO	0.15	0.27	0.59	0.61		-0.31	-0.18	0.52	-0.09	0.19	TBIO
RCEL	-0.32	-0.4	-0.54	-0.39	-0.31		-0.3	-0.78	0.62	0.23	RCEL
CLPT	0.01	0.21	-0.11	-0.2	-0.18	-0.3		0.18	-0.31	-0.35	CLPT
SGHT	0.23	0.55	0.62	0.51	0.52	-0.78	0.18		-0.57	-0.22	SGHT
TMCI	0.45	0.15	-0.09	0.21	-0.09	0.62	-0.31	-0.57		0.74	TMCI
FNA	0.54	0.3	0.51	0.58	0.19	0.23	-0.35	-0.22	0.74		FNA
	PROF	SIBN	IRIX	SRDX	TBIO	RCEL	CLPT	SGHT	TMCI	FNA

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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

SRDX	+ 0.76	IRIX
FNA	+ 0.74	TMCI
SGHT	+ 0.62	IRIX
TMCI	+ 0.62	RCEL
SIBN	+ 0.61	PROF
SRDX	+ 0.61	PROF

High negative correlations

SGHT	- 0.78	RCEL
TMCI	- 0.57	SGHT
RCEL	- 0.54	IRIX
RCEL	- 0.4	SIBN
RCEL	- 0.39	SRDX
FNA	- 0.35	CLPT

Risk-Adjusted Indicators

There is a big difference between Viemed Stock performing well and Viemed 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 Viemed 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
PROF	2.11	(0.34)	0.00	(0.45)	0.00	0.00	4.26	(3.53)	18.74
SIBN	3.06	(0.34)	0.00	(0.07)	0.00	0.00	6.75	(4.54)	27.00
IRIX	2.53	(0.18)	0.00	(0.16)	0.00	0.00	4.76	(5.33)	40.39
SRDX	0.48	(0.07)	0.00	(0.12)	0.00	0.00	1.26	(1.01)	3.22
TBIO	10.30	0.33	0.09	0.11	12.47	(12.60)	18.58	(19.05)	139.53
RCEL	2.39	0.44	0.18	0.29	2.39	(2.71)	5.77	(3.63)	14.73
CLPT	2.87	(0.13)	(0.02)	0.01	3.51	(3.30)	6.89	(4.61)	24.80
SGHT	3.12	(0.95)	0.00	(0.20)	0.00	0.00	6.96	(7.84)	18.22
TMCI	3.18	0.08	0.13	0.10	2.79	(4.10)	6.08	(4.39)	38.73
FNA	3.85	0.30	0.11	0.18	3.98	(4.39)	7.83	(6.30)	43.16

Viemed Healthcare Corporate Management

William Zehnder	COO Director	Profile
Robert LLB	Co Sec	Profile
Jeremy Trahan	Chief Transactions	Profile
Patrick Eagan	General Secretary	Profile
William MD	Chief Director	Profile
Casey Hoyt	CEO Director	Profile
Michael Freeman	Chief Officer	Profile

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