National HealthCare Correlations

NHC Stock

USD 103.55 1.22 1.19%

The current 90-days correlation between National HealthCare and US Physicalrapy is 0.02 (i.e., Significant diversification). The correlation of National 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.

National HealthCare Correlation With Market

Very weak diversification

The correlation between National HealthCare and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National HealthCare and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with National Stock

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

For information on how to trade National Stock refer to our How to Trade National Stock guide.

Moving together with National Stock

0.86	DH	Definitive Healthcare	Pair Corr
0.85	EW	Edwards Lifesciences Corp	Pair Corr
0.79	LH	Laboratory	Pair Corr
0.94	OM	Outset Medical	Pair Corr
0.7	VEEV	Veeva Systems Class	Pair Corr
0.86	DXCM	DexCom Inc	Pair Corr
0.87	EHAB	Enhabit	Pair Corr
0.93	ENSG	Ensign Group	Pair Corr
0.89	FLGT	Fulgent Genetics	Pair Corr
0.73	ABT	Abbott Laboratories	Pair Corr
0.74	AHG	Akso Health Group	Pair Corr

Moving against National Stock

0.67	ECOR	Electrocore LLC	Pair Corr
0.54	CI	Cigna Corp	Pair Corr
0.47	VREX	Varex Imaging Corp	Pair Corr
0.43	VTAK	Catheter Precision	Pair Corr
0.39	VERO	Venus Concept	Pair Corr
0.33	VSEE	VSee Health, Symbol Change	Pair Corr
0.83	WGRX	Wellgistics Health,	Pair Corr
0.81	ELMD	Electromed	Pair Corr
0.74	FEMY	Femasys	Pair Corr
0.72	WORX	Scworx Corp	Pair Corr
0.66	EKSO	Ekso Bionics Holdings	Pair Corr
0.65	ELAB	Elevai Labs, Common	Pair Corr
0.61	EMBC	Embecta Corp	Pair Corr
0.4	EUDA	EUDA Health Holdings	Pair Corr
0.39	VVOS	Vivos Therapeutics	Pair Corr
0.34	ENOV	Enovis Corp	Pair Corr
0.9	AGL	agilon health	Pair Corr
0.78	XAIR	Beyond Air	Pair Corr
0.76	BDX	Becton Dickinson Sell-off Trend	Pair Corr
0.74	BVS	Bioventus	Pair Corr
0.69	AMS	American Shared Hospital	Pair Corr
0.63	CHE	Chemed Corp	Pair Corr

Related Correlations Analysis

	ENSG	USPH	ATRI	CASS	BKD
ENSG		0.75	0.0	0.47	0.75	ENSG
USPH	0.75		0.0	0.75	0.62	USPH
ATRI	0.0	0.0		0.0	0.0	ATRI
CASS	0.47	0.75	0.0		0.34	CASS
BKD	0.75	0.62	0.0	0.34		BKD
	ENSG	USPH	ATRI	CASS	BKD

Click cells to compare fundamentals

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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	+ 0.75	ENSG
BKD	+ 0.75	ENSG
CASS	+ 0.75	USPH
BKD	+ 0.62	USPH
CASS	+ 0.47	ENSG
BKD	+ 0.34	CASS

High negative correlations

BKD	- 0.0	ATRI
CASS	- 0.0	ATRI
ATRI	- 0.0	USPH
ATRI	- 0.0	ENSG

Risk-Adjusted Indicators

There is a big difference between National Stock performing well and National 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 National 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
ENSG	1.17	0.26	0.13	0.47	1.53	(1.29)	3.29	(2.07)	10.77
USPH	1.32	0.00	(0.03)	0.09	1.61	(1.48)	3.51	(2.57)	9.74
ATRI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CASS	1.10	(0.08)	0.00	(0.05)	0.00	0.00	2.02	(2.50)	9.15
BKD	2.12	0.36	0.09	(0.52)	2.45	(2.36)	5.61	(3.79)	20.74

National HealthCare Corporate Executives

Elected by the shareholders, the National HealthCare's board of directors comprises two types of representatives: National HealthCare inside directors who are chosen from within the company, and outside directors, selected externally and held independent of National. The board's role is to monitor National HealthCare's management team and ensure that shareholders' interests are well served. National 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, National HealthCare's outside directors are responsible for providing unbiased perspectives on the board's policies.

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