Addus HomeCare Correlations

ADUS Stock

USD 111.75 0.83 0.75%

The current 90-days correlation between Addus HomeCare and Pennant Group is 0.49 (i.e., Very weak diversification). The correlation of Addus HomeCare 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Addus HomeCare Correlation With Market

Very weak diversification

The correlation between Addus HomeCare and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Addus HomeCare and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Addus HomeCare. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

For more information on how to buy Addus Stock please use our How to Invest in Addus HomeCare guide.

Moving together with Addus Stock

0.83	DH	Definitive Healthcare	Pair Corr
0.73	EW	Edwards Lifesciences Corp	Pair Corr
0.91	LH	Laboratory	Pair Corr
0.62	MD	Mednax Inc	Pair Corr
0.9	OM	Outset Medical	Pair Corr
0.82	VEEV	Veeva Systems Class	Pair Corr
0.91	DXCM	DexCom Inc	Pair Corr
0.64	EHAB	Enhabit	Pair Corr
0.94	ENSG	Ensign Group	Pair Corr
0.75	FIGS	Figs Inc	Pair Corr
0.79	ABT	Abbott Laboratories Earnings Call This Week	Pair Corr
0.62	MDAI	Spectral AI	Pair Corr
0.65	MHUA	Meihua International	Pair Corr

Moving against Addus Stock

0.7	EKSO	Ekso Bionics Holdings	Pair Corr
0.7	ICCM	Icecure Medical	Pair Corr
0.69	ELAB	Elevai Labs, Common Buyout Trend	Pair Corr
0.69	ELMD	Electromed	Pair Corr
0.59	EMBC	Embecta Corp	Pair Corr
0.48	CI	Cigna Corp	Pair Corr
0.43	ECOR	Electrocore LLC	Pair Corr
0.38	VERO	Venus Concept	Pair Corr
0.87	NAOV	NanoVibronix	Pair Corr
0.85	EQ	Equillium	Pair Corr
0.83	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.76	NXGLW	NexGel Warrant	Pair Corr
0.73	MXCT	MaxCyte	Pair Corr
0.73	NXLIW	Nexalin Technology	Pair Corr
0.69	MSPRZ	MSP Recovery Symbol Change	Pair Corr
0.69	MNDR	Mobile health Network	Pair Corr
0.66	VALN	Valneva SE ADR	Pair Corr

Related Correlations Analysis

	EHC	PNTG	ACHC	SEM	ENSG	UHS	SGRY	OPCH	AMED	EHAB
EHC		0.74	-0.33	-0.43	0.85	0.54	0.58	-0.18	0.7	0.62	EHC
PNTG	0.74		-0.17	-0.47	0.76	0.57	0.54	0.11	0.35	0.89	PNTG
ACHC	-0.33	-0.17		0.09	-0.3	0.42	0.09	0.31	-0.47	-0.11	ACHC
SEM	-0.43	-0.47	0.09		-0.6	-0.35	-0.24	0.22	-0.4	-0.37	SEM
ENSG	0.85	0.76	-0.3	-0.6		0.44	0.35	-0.27	0.66	0.64	ENSG
UHS	0.54	0.57	0.42	-0.35	0.44		0.69	0.16	-0.02	0.53	UHS
SGRY	0.58	0.54	0.09	-0.24	0.35	0.69		0.13	0.13	0.55	SGRY
OPCH	-0.18	0.11	0.31	0.22	-0.27	0.16	0.13		-0.35	0.16	OPCH
AMED	0.7	0.35	-0.47	-0.4	0.66	-0.02	0.13	-0.35		0.11	AMED
EHAB	0.62	0.89	-0.11	-0.37	0.64	0.53	0.55	0.16	0.11		EHAB
	EHC	PNTG	ACHC	SEM	ENSG	UHS	SGRY	OPCH	AMED	EHAB

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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

EHAB	+ 0.89	PNTG
ENSG	+ 0.85	EHC
ENSG	+ 0.76	PNTG
PNTG	+ 0.74	EHC
AMED	+ 0.7	EHC
SGRY	+ 0.69	UHS

High negative correlations

ENSG	- 0.6	SEM
AMED	- 0.47	ACHC
SEM	- 0.47	PNTG
SEM	- 0.43	EHC
AMED	- 0.4	SEM
EHAB	- 0.37	SEM

Risk-Adjusted Indicators

There is a big difference between Addus Stock performing well and Addus HomeCare 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 Addus HomeCare'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
EHC	1.00	0.17	0.05	0.52	1.39	(1.07)	1.77	(1.34)	13.46
PNTG	1.60	(0.11)	(0.06)	0.09	2.48	(1.63)	3.39	(2.72)	14.48
ACHC	2.70	(0.40)	0.00	(0.05)	0.00	0.00	4.70	(6.29)	17.42
SEM	1.91	(0.23)	0.00	(0.04)	0.00	0.00	3.96	(3.16)	29.71
ENSG	1.14	0.05	(0.01)	0.31	1.47	(1.22)	2.52	(1.80)	10.77
UHS	1.67	(0.14)	(0.05)	0.11	2.53	(1.69)	4.30	(2.85)	15.80
SGRY	1.78	(0.10)	(0.04)	0.13	2.63	(1.87)	4.43	(2.66)	17.22
OPCH	1.43	(0.21)	0.00	(0.42)	0.00	0.00	2.42	(2.88)	10.48
AMED	0.42	0.05	(0.23)	0.70	0.48	(0.43)	0.96	(0.96)	4.82
EHAB	2.09	(0.28)	0.00	(0.16)	0.00	0.00	3.16	(4.38)	36.43

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