Viemed Healthcare Correlations
| VMD Stock | USD 8.09 0.03 0.37% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Viemed Healthcare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Viemed Healthcare 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.
Very weak diversification
The correlation between Viemed Healthcare and NYA is 0.4 (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 NYA in the same portfolio, assuming nothing else is changed.
Viemed |
The ability to find closely correlated positions to Viemed Healthcare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Viemed Healthcare 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 Viemed Healthcare - 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 Viemed Healthcare to buy it.
Moving together with Viemed Stock
| 0.65 | CVS | CVS Health Corp Earnings Call This Week | PairCorr |
| 0.7 | CERT | Certara Financial Report 13th of May 2024 | PairCorr |
| 0.78 | BMY | Bristol Myers Squibb Earnings Call Today | PairCorr |
| 0.79 | OCEA | Ocean Biomedical | PairCorr |
| 0.67 | PBMRF | PT Bumi Resources | PairCorr |
| 0.77 | HPQ | HP Inc Financial Report 4th of June 2024 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
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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 | 2.03 | (0.16) | 0.00 | (0.02) | 0.00 | 4.42 | 20.29 | |||
| SIBN | 1.96 | (0.38) | 0.00 | (0.19) | 0.00 | 4.10 | 18.59 | |||
| IRIX | 3.21 | 0.02 | 0.03 | 0.09 | 3.82 | 6.25 | 23.91 | |||
| SRDX | 1.93 | (0.44) | 0.00 | (0.26) | 0.00 | 3.54 | 11.42 | |||
| TBIO | 5.94 | 0.33 | 0.05 | 0.23 | 5.96 | 9.38 | 86.23 | |||
| RCEL | 2.93 | (0.76) | 0.00 | (0.22) | 0.00 | 5.76 | 37.17 | |||
| CLPT | 3.01 | (0.63) | 0.00 | (0.13) | 0.00 | 4.54 | 25.88 | |||
| SGHT | 3.41 | 0.04 | 0.03 | 0.10 | 4.33 | 6.69 | 25.65 | |||
| TMCI | 2.30 | (0.45) | 0.00 | (0.09) | 0.00 | 5.58 | 14.01 | |||
| FNA | 3.03 | (0.36) | 0.00 | (0.03) | 0.00 | 6.65 | 31.62 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Viemed Healthcare 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.Did you try this?
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Viemed Healthcare Corporate Management
Elected by the shareholders, the Viemed Healthcare's board of directors comprises two types of representatives: Viemed Healthcare inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Viemed. The board's role is to monitor Viemed Healthcare's management team and ensure that shareholders' interests are well served. Viemed Healthcare'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, Viemed Healthcare's outside directors are responsible for providing unbiased perspectives on the board's policies.
| 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 |
Already Invested in Viemed Healthcare?
The danger of trading Viemed Healthcare 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 Viemed Healthcare 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 Viemed Healthcare. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Viemed Healthcare 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 Viemed Healthcare is a strong investment it is important to analyze Viemed Healthcare's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Viemed Healthcare's future performance. For an informed investment choice regarding Viemed Stock, refer to the following important reports: 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 tightly coupled 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.You can also try the FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Complementary Tools for Viemed Stock analysis
When running Viemed Healthcare's price analysis, check to measure Viemed Healthcare'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 Viemed Healthcare is operating at the current time. Most of Viemed Healthcare's value examination focuses on studying past and present price action to predict the probability of Viemed Healthcare's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Viemed Healthcare's price. Additionally, you may evaluate how the addition of Viemed Healthcare to your portfolios can decrease your overall portfolio volatility.
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Is Viemed Healthcare'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 Viemed Healthcare. If investors know Viemed 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 Viemed Healthcare listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.246 | Earnings Share 0.25 | Revenue Per Share 4.772 | Quarterly Revenue Growth 0.353 | Return On Assets 0.0713 |
The market value of Viemed Healthcare is measured differently than its book value, which is the value of Viemed that is recorded on the company's balance sheet. Investors also form their own opinion of Viemed Healthcare's value that differs from its market value or its book value, called intrinsic value, which is Viemed Healthcare'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 Viemed Healthcare's market value can be influenced by many factors that don't directly affect Viemed Healthcare'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 Viemed Healthcare's value and its price as these two are different measures arrived at by different means. Investors typically determine if Viemed Healthcare is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Viemed Healthcare'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.