Cerner Correlations

CERN
 Stock
  

USD 94.92  0.00  0.00%   

The correlation of Cerner is a statistical measure of how it moves in relation to other equities. 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 Cerner moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cerner 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.
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The ability to find closely correlated positions to Cerner could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cerner 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 Cerner - 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 Cerner to buy it.

Moving together with Cerner

0.89ACCDAccoladePairCorr
0.66AMWLAmerican Well CorpPairCorr
0.7CHNGChange HealthcarePairCorr
0.83CMAXCaremaxPairCorr
0.72CNVYConvey Holding ParentPairCorr
0.77DHDefinitive HealthcarePairCorr
0.69DOCSDoximity Inc ClPairCorr
0.88EVHEvolent Health Downward RallyPairCorr

Moving against Cerner

0.76AUGXAugmedixPairCorr
0.68BBLNBabylon HldgsPairCorr
0.55HLTHCue HealthPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
IRBTCVNA
CMGTSLA
RKLBCVNA
CMGA
IRBTRKLB
NCMIRKLB
  
High negative correlations   
VLDRAMWL
VLDRTSLA
RKLBAMWL
NCMIAMWL
CMGVLDR

Cerner Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Cerner stock performing well and Cerner company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Cerner's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
AMWL 4.36  1.04  0.26  0.77  3.53  0.20 (5.05)  10.92 (5.95)  22.75 
A 1.80  0.14  0.08  0.18  1.89  0.07 (2.03)  4.22 (3.15)  8.98 
CVNA 8.12  0.82  0.11  0.30  8.35  0.09 (9.16)  19.82 (13.03)  50.90 
RKLB 3.65  0.34  0.09  0.21  4.52  0.08 (3.94)  8.25 (7.11)  29.87 
TSLA 3.30  0.10  0.04  0.11  4.33  0.0439 (3.21)  7.33 (7.10)  16.65 
NCMI 4.64  0.20  0.04  0.16  6.00  0.0454 (5.00)  9.73 (8.26)  38.74 
VLDR 5.03  0.22  0.03  0.45  6.22  0.0261 (5.15)  8.93 (9.52)  25.29 
GOOGL 1.95  0.00  0.02  0.07  2.22  0.0173 (2.07)  4.20 (3.92)  10.75 
CMG 2.02  0.27  0.13  0.26  2.13  0.11 (2.33)  4.28 (3.84)  16.34 
IRBT 3.20  0.32  0.10  0.26  3.40  0.08 (3.63)  6.53 (5.22)  19.17 

Cerner Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Cerner stock to make a market-neutral strategy. Peer analysis of Cerner could also be used in its relative valuation, which is a method of valuing Cerner by comparing valuation metrics with similar companies.
American Well CorpAgilent TechnologiesCarvana Co ClRocket Lab USATesla IncNational CinemediaVelodyne LidarAlphabet Cl AChipotle Mexican GrillIrobot CorpAmn Healthcare ServicesTwist Bioscience CorpFreedom Holding CorpKEURIG DR PEPPERGX Nasdaq-100 Covered
 Risk & Return  Correlation

Cerner Corporate Directors

Cerner corporate directors refer to members of a Cerner board of directors. The board of directors generally takes responsibility for the Cerner's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Cerner's board members must vote for the resolution. The Cerner board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Gerald Bisbee - Independent DirectorProfile
Mitchell Daniels - Independent DirectorProfile
William Neaves - Lead Independent DirectorProfile
Linda Dillman - Independent DirectorProfile

Invested in Cerner?

You need to understand the risk of investing before taking a position in Cerner. The danger of trading Cerner 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 Cerner 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 Cerner. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Cerner 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.
Continue to Trending Equities. Note that the Cerner information on this page should be used as a complementary analysis to other Cerner'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 ETF Directory module to find actively traded Exchange Traded Funds (ETF) from around the world.

Other Tools for Cerner Stock

When running Cerner price analysis, check to measure Cerner'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 Cerner is operating at the current time. Most of Cerner's value examination focuses on studying past and present price action to predict the probability of Cerner's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Cerner's price. Additionally, you may evaluate how the addition of Cerner to your portfolios can decrease your overall portfolio volatility.
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