DaVita HealthCare Correlations

DVA Stock

USD 157.54 3.15 1.96%

The current 90-days correlation between DaVita HealthCare and The Ensign Group is 0.05 (i.e., Significant 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

Modest diversification

The correlation between DaVita HealthCare Partners and DJI is 0.21 (i.e., Modest 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.

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

0.68	CI	Cigna Corp	Pair Corr
0.83	MD	Mednax Inc	Pair Corr
0.94	DOCS	Doximity	Pair Corr
0.8	VEEV	Veeva Systems Class	Pair Corr
0.63	VVOS	Vivos Therapeutics	Pair Corr
0.8	ELMD	Electromed	Pair Corr
0.75	ENSG	Ensign Group	Pair Corr
0.82	ABT	Abbott Laboratories Fiscal Year End 22nd of January 2025	Pair Corr
0.9	ALC	Alcon AG	Pair Corr
0.75	BAX	Baxter International	Pair Corr

Moving against DaVita Stock

0.92	EDAP	EDAP TMS SA	Pair Corr
0.84	GH	Guardant Health	Pair Corr
0.83	OM	Outset Medical Earnings Call This Week	Pair Corr
0.8	ELAB	Elevai Labs, Common	Pair Corr
0.77	EHAB	Enhabit	Pair Corr
0.74	VTAK	Catheter Precision	Pair Corr
0.7	VREX	Varex Imaging Corp Fiscal Year End 12th of November 2024	Pair Corr
0.56	DXCM	DexCom Inc	Pair Corr
0.46	DRIO	DarioHealth Corp	Pair Corr
0.39	EW	Edwards Lifesciences Corp	Pair Corr
0.34	DH	Definitive Healthcare	Pair Corr
0.89	AGL	agilon health	Pair Corr
0.84	AWH	Aspira Womens Health	Pair Corr
0.81	FORA	Forian Inc	Pair Corr
0.79	XAIR	Beyond Air	Pair Corr
0.76	AMN	AMN Healthcare Services	Pair Corr
0.75	BKD	Brookdale Senior Living	Pair Corr
0.69	CCM	Concord Medical Services Earnings Call This Week	Pair Corr
0.35	WORX	Scworx Corp	Pair Corr

Related Correlations Analysis

	SGRY	ACHC	ENSG	FSNUY	THC	HCA	USPH	AMED	OPCH	EHC
SGRY		0.27	0.79	0.82	0.81	0.82	-0.44	-0.32	0.62	0.77	SGRY
ACHC	0.27		0.6	0.38	0.51	0.44	-0.34	0.32	0.65	0.15	ACHC
ENSG	0.79	0.6		0.89	0.87	0.89	-0.6	-0.3	0.77	0.74	ENSG
FSNUY	0.82	0.38	0.89		0.9	0.96	-0.73	-0.56	0.58	0.86	FSNUY
THC	0.81	0.51	0.87	0.9		0.97	-0.72	-0.34	0.63	0.79	THC
HCA	0.82	0.44	0.89	0.96	0.97		-0.77	-0.48	0.59	0.84	HCA
USPH	-0.44	-0.34	-0.6	-0.73	-0.72	-0.77		0.51	-0.23	-0.47	USPH
AMED	-0.32	0.32	-0.3	-0.56	-0.34	-0.48	0.51		0.09	-0.55	AMED
OPCH	0.62	0.65	0.77	0.58	0.63	0.59	-0.23	0.09		0.5	OPCH
EHC	0.77	0.15	0.74	0.86	0.79	0.84	-0.47	-0.55	0.5		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

HCA	+ 0.97	THC
HCA	+ 0.96	FSNUY
THC	+ 0.9	FSNUY
FSNUY	+ 0.89	ENSG
HCA	+ 0.89	ENSG
THC	+ 0.87	ENSG

High negative correlations

USPH	- 0.77	HCA
USPH	- 0.73	FSNUY
USPH	- 0.72	THC
USPH	- 0.6	ENSG
AMED	- 0.56	FSNUY
EHC	- 0.55	AMED

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	2.62	0.46	0.18	3.74	1.88	(3.66)	6.18	(3.48)	21.16
ACHC	1.92	(0.29)	0.00	(0.35)	0.00	0.00	4.60	(3.75)	30.61
ENSG	1.11	0.11	0.07	0.21	1.21	(1.12)	2.81	(2.15)	8.09
FSNUY	0.98	0.30	0.15	(1.20)	0.93	(1.17)	2.45	(1.85)	8.46
THC	1.48	0.17	0.07	0.35	1.87	(1.55)	3.03	(3.13)	10.10
HCA	0.86	0.22	0.12	0.48	1.05	(0.88)	2.39	(2.26)	7.36
USPH	1.29	(0.32)	0.00	(0.22)	0.00	0.00	2.38	(3.06)	13.73
AMED	0.21	(0.04)	0.00	(0.24)	0.00	0.00	0.47	(0.54)	1.37
OPCH	1.47	0.01	0.01	0.10	1.98	(1.49)	3.23	(3.50)	11.31
EHC	0.93	0.11	0.04	0.30	1.42	(0.92)	2.48	(1.86)	8.06

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