Correlation Between Agilon Health and Concord Medical

Can any of the company-specific risk be diversified away by investing in both Agilon Health and Concord Medical at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Agilon Health and Concord Medical into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between agilon health and Concord Medical Services, you can compare the effects of market volatilities on Agilon Health and Concord Medical and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Agilon Health with a short position of Concord Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agilon Health and Concord Medical.

Diversification Opportunities for Agilon Health and Concord Medical

0.72

Correlation Coefficient

Agilon Health  Concord Medical

Poor diversification

The 3 months correlation between Agilon and Concord is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding agilon health and Concord Medical Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Concord Medical Services and Agilon Health is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on agilon health are associated (or correlated) with Concord Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Concord Medical Services has no effect on the direction of Agilon Health i.e., Agilon Health and Concord Medical go up and down completely randomly.

Pair Corralation between Agilon Health and Concord Medical

Considering the 90-day investment horizon agilon health is expected to generate 1.2 times more return on investment than Concord Medical. However, Agilon Health is 1.2 times more volatile than Concord Medical Services. It trades about 0.01 of its potential returns per unit of risk. Concord Medical Services is currently generating about -0.39 per unit of risk. If you would invest  75.00  in agilon health on September 6, 2025 and sell it today you would lose (2.00) from holding agilon health or give up 2.67% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	95.45%
Values	Daily Returns

agilon health  vs.  Concord Medical Services

agilon health

Risk-Adjusted Performance

Weakest

Over the last 90 days agilon health has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's technical and fundamental indicators remain quite persistent which may send shares a bit higher in January 2026. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

Concord Medical Services

Risk-Adjusted Performance

Weakest

Over the last 90 days Concord Medical Services has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Stock's fundamental indicators remain very healthy which may send shares a bit higher in January 2026. The recent disarray may also be a sign of long period up-swing for the firm investors.

Pair Trading with Agilon Health and Concord Medical

The main advantage of trading using opposite Agilon Health and Concord Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agilon Health position performs unexpectedly, Concord Medical can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Concord Medical will offset losses from the drop in Concord Medical's long position.

The idea behind agilon health and Concord Medical Services pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.