Correlation Between HealthStream and Agiliti

Can any of the company-specific risk be diversified away by investing in both HealthStream and Agiliti 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 HealthStream and Agiliti into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between HealthStream and Agiliti, you can compare the effects of market volatilities on HealthStream and Agiliti 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 HealthStream with a short position of Agiliti. Check out your portfolio center. Please also check ongoing floating volatility patterns of HealthStream and Agiliti.

Diversification Opportunities for HealthStream and Agiliti

0.0

Correlation Coefficient

HealthStream  Agiliti

Pay attention - limited upside

The 3 months correlation between HealthStream and Agiliti is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HealthStream and Agiliti in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agiliti and HealthStream 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 HealthStream are associated (or correlated) with Agiliti. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agiliti has no effect on the direction of HealthStream i.e., HealthStream and Agiliti go up and down completely randomly.

Pair Corralation between HealthStream and Agiliti

If you would invest (100.00) in Agiliti on May 5, 2025 and sell it today you would earn a total of  100.00  from holding Agiliti or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

HealthStream  vs.  Agiliti

HealthStream

Risk-Adjusted Performance

Very Weak

Over the last 90 days HealthStream 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 basic indicators remain very healthy which may send shares a bit higher in September 2025. The recent disarray may also be a sign of long period up-swing for the firm investors.

Agiliti

Risk-Adjusted Performance

Very Weak

Over the last 90 days Agiliti has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong basic indicators, Agiliti is not utilizing all of its potentials. The recent stock price confusion, may contribute to short-horizon losses for the traders.

Pair Trading with HealthStream and Agiliti

The main advantage of trading using opposite HealthStream and Agiliti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HealthStream position performs unexpectedly, Agiliti 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 Agiliti will offset losses from the drop in Agiliti's long position.

The idea behind HealthStream and Agiliti 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.

Check out your portfolio center.

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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.