DaVita HealthCare Correlations

DVA Stock

USD 143.76 0.13 0.09%

The current 90-days correlation between DaVita HealthCare and The Ensign Group is 0.45 (i.e., Very weak diversification). The correlation of DaVita 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

DaVita HealthCare Correlation With Market

Very weak diversification

The correlation between DaVita HealthCare Partners and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DaVita HealthCare Partners and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DaVita HealthCare Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with DaVita Stock

0.62	DH	Definitive Healthcare Buyout Trend	Pair Corr
0.64	ENOV	Enovis Corp Sell-off Trend	Pair Corr
0.73	GCTK	GlucoTrack	Pair Corr
0.67	MMSI	Merit Medical Systems	Pair Corr
0.61	POCI	Precision Optics, Earnings Call This Week	Pair Corr
0.64	RDNT	RadNet Inc	Pair Corr
0.7	ACHC	Acadia Healthcare	Pair Corr

Moving against DaVita Stock

0.59	CVS	CVS Health Corp	Pair Corr
0.39	MOH	Molina Healthcare	Pair Corr
0.33	CAH	Cardinal Health	Pair Corr
0.55	MASS	908 Devices	Pair Corr
0.42	LNSR	LENSAR Inc	Pair Corr

Related Correlations Analysis

	SGRY	ACHC	ENSG	FSNUY	THC	HCA	USPH	AMED	OPCH	EHC
SGRY		0.84	0.37	-0.53	0.39	-0.38	0.9	-0.16	0.05	-0.28	SGRY
ACHC	0.84		0.3	-0.83	0.21	-0.51	0.9	-0.48	-0.19	-0.44	ACHC
ENSG	0.37	0.3		0.04	0.67	0.39	0.31	0.25	0.05	0.32	ENSG
FSNUY	-0.53	-0.83	0.04		0.22	0.67	-0.64	0.79	0.11	0.71	FSNUY
THC	0.39	0.21	0.67	0.22		0.53	0.26	0.61	-0.12	0.65	THC
HCA	-0.38	-0.51	0.39	0.67	0.53		-0.57	0.64	0.2	0.67	HCA
USPH	0.9	0.9	0.31	-0.64	0.26	-0.57		-0.3	-0.22	-0.31	USPH
AMED	-0.16	-0.48	0.25	0.79	0.61	0.64	-0.3		-0.05	0.86	AMED
OPCH	0.05	-0.19	0.05	0.11	-0.12	0.2	-0.22	-0.05		-0.18	OPCH
EHC	-0.28	-0.44	0.32	0.71	0.65	0.67	-0.31	0.86	-0.18		EHC
	SGRY	ACHC	ENSG	FSNUY	THC	HCA	USPH	AMED	OPCH	EHC

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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

USPH	+ 0.9	SGRY
USPH	+ 0.9	ACHC
EHC	+ 0.86	AMED
ACHC	+ 0.84	SGRY
AMED	+ 0.79	FSNUY
EHC	+ 0.71	FSNUY

High negative correlations

FSNUY	- 0.83	ACHC
USPH	- 0.64	FSNUY
USPH	- 0.57	HCA
FSNUY	- 0.53	SGRY
HCA	- 0.51	ACHC
AMED	- 0.48	ACHC

Risk-Adjusted Indicators

There is a big difference between DaVita Stock performing well and DaVita 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 DaVita 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
SGRY	1.37	(0.12)	0.00	(0.28)	0.00	0.00	3.36	(2.84)	10.92
ACHC	2.67	(0.78)	0.00	(1.30)	0.00	0.00	4.34	(6.29)	29.66
ENSG	1.47	(0.04)	0.00	(0.18)	0.00	0.00	3.29	(3.61)	11.56
FSNUY	1.58	0.36	0.22	19.77	1.92	(1.73)	5.21	(2.74)	12.30
THC	2.50	0.27	0.06	0.07	3.52	(2.60)	5.55	(5.57)	19.03
HCA	1.64	0.15	0.08	0.18	2.62	(1.42)	3.05	(3.95)	9.42
USPH	1.42	(0.15)	0.00	(0.31)	0.00	0.00	2.35	(2.57)	9.63
AMED	0.31	0.05	0.28	0.26	0.42	(0.30)	0.79	(0.71)	2.40
OPCH	1.34	0.08	0.06	0.11	2.48	(1.15)	2.35	(4.01)	10.68
EHC	1.45	0.30	0.17	0.30	1.84	(1.58)	2.94	(2.80)	13.13

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