Surgery Partners Correlations

SGRY Stock

USD 22.24 0.40 1.83%

The current 90-days correlation between Surgery Partners and The Ensign Group is 0.35 (i.e., Weak diversification). The correlation of Surgery Partners 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.

Surgery Partners Correlation With Market

Very weak diversification

The correlation between Surgery Partners and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Surgery Partners and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Surgery Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Surgery 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 metropolitan statistical area.

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

Moving together with Surgery Stock

0.61

Edwards Lifesciences Corp Earnings Call This Week

Pair Corr

Moving against Surgery Stock

0.46	CVS	CVS Health Corp	Pair Corr
0.34	VNRX	Volitionrx	Pair Corr
0.31	VERO	Venus Concept	Pair Corr
0.37	NXGLW	NexGel Warrant	Pair Corr
0.36	NAOV	NanoVibronix	Pair Corr
0.33	MSPRZ	MSP Recovery Symbol Change	Pair Corr

Related Correlations Analysis

	PNTG	ENSG	EHC	HCSG	EHAB	INNV	NHC	SEM	CCM	UHS
PNTG		0.7	0.69	0.56	0.88	0.54	0.6	-0.42	0.64	0.54	PNTG
ENSG	0.7		0.84	0.7	0.65	0.85	0.92	-0.61	0.36	0.42	ENSG
EHC	0.69	0.84		0.9	0.62	0.77	0.81	-0.43	0.67	0.53	EHC
HCSG	0.56	0.7	0.9		0.48	0.69	0.73	-0.39	0.66	0.41	HCSG
EHAB	0.88	0.65	0.62	0.48		0.5	0.56	-0.33	0.67	0.48	EHAB
INNV	0.54	0.85	0.77	0.69	0.5		0.91	-0.6	0.46	0.6	INNV
NHC	0.6	0.92	0.81	0.73	0.56	0.91		-0.54	0.39	0.47	NHC
SEM	-0.42	-0.61	-0.43	-0.39	-0.33	-0.6	-0.54		-0.2	-0.34	SEM
CCM	0.64	0.36	0.67	0.66	0.67	0.46	0.39	-0.2		0.62	CCM
UHS	0.54	0.42	0.53	0.41	0.48	0.6	0.47	-0.34	0.62		UHS
	PNTG	ENSG	EHC	HCSG	EHAB	INNV	NHC	SEM	CCM	UHS

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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

NHC	+ 0.92	ENSG
NHC	+ 0.91	INNV
HCSG	+ 0.9	EHC
EHAB	+ 0.88	PNTG
INNV	+ 0.85	ENSG
EHC	+ 0.84	ENSG

High negative correlations

SEM	- 0.61	ENSG
SEM	- 0.6	INNV
SEM	- 0.54	NHC
SEM	- 0.43	EHC
SEM	- 0.42	PNTG
SEM	- 0.39	HCSG

Risk-Adjusted Indicators

There is a big difference between Surgery Stock performing well and Surgery Partners 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 Surgery Partners' 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
PNTG	1.61	(0.16)	0.00	(0.03)	0.00	0.00	3.08	(3.51)	14.48
ENSG	1.13	0.03	0.01	0.15	1.69	(1.13)	2.01	(2.07)	7.84
EHC	1.11	(0.01)	(0.01)	0.10	2.63	(0.96)	1.74	(1.55)	13.46
HCSG	1.88	0.30	0.20	0.33	1.45	(2.38)	2.35	(2.69)	35.27
EHAB	2.06	(0.06)	0.00	0.64	0.00	0.00	3.16	(4.38)	36.43
INNV	3.02	0.45	0.16	0.36	2.99	(3.58)	7.47	(5.45)	20.89
NHC	1.27	0.21	0.07	1.58	1.34	(1.47)	3.18	(2.22)	10.10
SEM	1.86	(0.26)	0.00	(0.24)	0.00	0.00	3.61	(3.16)	26.47
CCM	4.46	0.45	0.08	0.43	5.29	(4.90)	9.04	(9.24)	50.36
UHS	1.63	(0.20)	0.00	(0.02)	0.00	0.00	4.29	(2.87)	12.09

Surgery Partners Corporate Executives

Elected by the shareholders, the Surgery Partners' board of directors comprises two types of representatives: Surgery Partners inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Surgery. The board's role is to monitor Surgery Partners' management team and ensure that shareholders' interests are well served. Surgery Partners' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Surgery Partners' outside directors are responsible for providing unbiased perspectives on the board's policies.

	David Doherty	Executive CFO	Profile
	David CPA	Executive CFO	Profile

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