Sonida Senior Correlations

SNDA Stock  USD 29.94  0.52  1.77%   
The correlation of Sonida Senior 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sonida Senior moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sonida Senior Living moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Significant diversification

The correlation between Sonida Senior Living and NYA is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sonida Senior Living and NYA 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 Sonida Senior Living. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment.
The ability to find closely correlated positions to Sonida Senior could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sonida Senior when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Sonida Senior - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Sonida Senior Living to buy it.

Moving together with Sonida Stock

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Moving against Sonida Stock

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Related Correlations Analysis

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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   
High negative correlations   

Risk-Adjusted Indicators

There is a big difference between Sonida Stock performing well and Sonida Senior 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 Sonida Senior'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sonida Senior without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Sonida Senior Corporate Management

Elected by the shareholders, the Sonida Senior's board of directors comprises two types of representatives: Sonida Senior inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Sonida. The board's role is to monitor Sonida Senior's management team and ensure that shareholders' interests are well served. Sonida Senior's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Sonida Senior's outside directors are responsible for providing unbiased perspectives on the board's policies.
Tabitha ObenourVP OfficerProfile
Elliot ZibelIndependent DirectorProfile
David BrickmanSenior Vice President General Counsel, SecretaryProfile
Brandon CPACEO and PresidentProfile
Noah BerenIndependent Chairman of the BoardProfile
Tiffany DuttonSenior Vice President - Finance and AccountingProfile
Linda ZimmermanCorporate ControllerProfile

Already Invested in Sonida Senior Living?

The danger of trading Sonida Senior Living is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Sonida Senior is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Sonida Senior. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Sonida Senior Living is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Sonida Senior Living offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Sonida Senior's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Sonida Senior Living Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Sonida Senior Living Stock:
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sonida Senior Living. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment.
Note that the Sonida Senior Living information on this page should be used as a complementary analysis to other Sonida Senior's statistical models used 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 Global Correlations module to find global opportunities by holding instruments from different markets.

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When running Sonida Senior's price analysis, check to measure Sonida Senior's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Sonida Senior is operating at the current time. Most of Sonida Senior's value examination focuses on studying past and present price action to predict the probability of Sonida Senior's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Sonida Senior's price. Additionally, you may evaluate how the addition of Sonida Senior to your portfolios can decrease your overall portfolio volatility.
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Is Sonida Senior's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Sonida Senior. If investors know Sonida will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Sonida Senior listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share
Revenue Per Share
Quarterly Revenue Growth
Return On Assets
The market value of Sonida Senior Living is measured differently than its book value, which is the value of Sonida that is recorded on the company's balance sheet. Investors also form their own opinion of Sonida Senior's value that differs from its market value or its book value, called intrinsic value, which is Sonida Senior's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Sonida Senior's market value can be influenced by many factors that don't directly affect Sonida Senior's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Sonida Senior's value and its price as these two are different measures arrived at by different means. Investors typically determine if Sonida Senior is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Sonida Senior's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.