Tax-loss harvesting alternatives for CERT

Among the 6 Health Care Technology peers screened, DOCS (Doximity) has tracked CERT most closely over the past year, with a return correlation of 0.38. The strongest fund stand-in is IHI (iShares Medical Devices ETF) at 0.27 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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STOCKS

Single-name peers

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
DOCS	Doximity	Health Care Technology	0.38	0.26	0.33	—
VEEV	Veeva Systems	Health Care Technology	0.33	0.28	0.38	—
HSTM	HealthStream, Inc.	Health Care Technology	0.27	0.31	0.31	—
WAY	Waystar Holding Corp	Health Care Technology	0.25	0.21	—	—
OMCL	Omnicell	Health Care Technology	0.19	0.24	0.27	—
SOLV	Solventum	Health Care Technology	0.08	0.16	—	—

ETFS

Fund stand-ins

An ETF is generally not 'substantially identical' to a single stock, which is why funds are the standard wash-sale-aware replacement.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.27	0.32	0.40	—
XHE	SPDR S&P Health Care Equipment	Medical Devices (Equal Wt)	SUB-IND	0.26	0.39	0.47	—
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.26	0.33	0.39	—
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.26	0.31	0.37	—
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.26	0.33	0.39	—
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.24	0.30	0.34	—
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.22	0.38	0.44	—
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.20	0.23	0.28	—
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.19	0.26	0.29	—
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.14	0.34	0.42	—
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.14	0.31	0.38	—
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.14	0.22	0.29	—

NEXT STEPS

Harvesting a loss in CERT?

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Replacement research for CERT's peers

DOCS VEEV HSTM WAY OMCL SOLV

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Method: Pearson correlation of daily closing-price returns, Yahoo Finance data, series aligned by trading day, refreshed weekly. A cell is blank when overlapping history covers less than 60% of its window. Correlation is descriptive, not predictive. Wash-sale treatment depends on facts and circumstances — confirm with a tax professional. Not investment advice.