Addus HomeCare Correlations

ADUS Stock

USD 90.90 0.34 0.37%

The current 90-days correlation between Addus HomeCare and Pennant Group is 0.09 (i.e., Significant 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

Good diversification

The correlation between Addus HomeCare and DJI is -0.02 (i.e., Good 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.

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

0.8	ELMD	Electromed	Pair Corr
0.64	RMD	ResMed Inc	Pair Corr
0.61	SEM	Select Medical Holdings	Pair Corr
0.69	TFX	Teleflex Incorporated	Pair Corr
0.69	UHS	Universal Health Services	Pair Corr
0.68	WST	West Pharmaceutical	Pair Corr
0.8	GKOS	Glaukos Corp	Pair Corr
0.69	INGN	Inogen Inc	Pair Corr
0.72	IRMD	Iradimed	Pair Corr
0.71	ITGR	Integer Holdings Corp	Pair Corr
0.84	NNOX	Nano X Imaging	Pair Corr

Moving against Addus Stock

0.71	INMD	InMode	Pair Corr
0.59	LUCD	Lucid Diagnostics Buyout Trend	Pair Corr
0.55	ALC	Alcon AG	Pair Corr
0.54	LUNG	Pulmonx Corp	Pair Corr
0.53	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.44	EHC	Encompass Health Corp	Pair Corr
0.41	FNA	Paragon 28	Pair Corr
0.32	MDT	Medtronic PLC	Pair Corr
0.5	SGRY	Surgery Partners	Pair Corr
0.48	NVRO	Nevro Corp	Pair Corr
0.39	TMDX	TransMedics Group	Pair Corr
0.37	OPCH	Option Care Health	Pair Corr

Related Correlations Analysis

	EHC	PNTG	ACHC	SEM	ENSG	UHS	SGRY	OPCH	AMED	EHAB
EHC		-0.17	-0.22	0.07	0.02	0.0	0.8	0.7	0.26	0.72	EHC
PNTG	-0.17		0.47	0.79	0.71	0.61	-0.11	-0.61	-0.08	-0.31	PNTG
ACHC	-0.22	0.47		0.62	0.28	0.85	-0.18	-0.19	-0.01	-0.42	ACHC
SEM	0.07	0.79	0.62		0.78	0.72	0.02	-0.34	-0.12	-0.27	SEM
ENSG	0.02	0.71	0.28	0.78		0.54	-0.01	-0.32	0.04	-0.08	ENSG
UHS	0.0	0.61	0.85	0.72	0.54		0.02	-0.14	0.06	-0.19	UHS
SGRY	0.8	-0.11	-0.18	0.02	-0.01	0.02		0.54	0.33	0.7	SGRY
OPCH	0.7	-0.61	-0.19	-0.34	-0.32	-0.14	0.54		0.41	0.71	OPCH
AMED	0.26	-0.08	-0.01	-0.12	0.04	0.06	0.33	0.41		0.46	AMED
EHAB	0.72	-0.31	-0.42	-0.27	-0.08	-0.19	0.7	0.71	0.46		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

UHS	+ 0.85	ACHC
SGRY	+ 0.8	EHC
SEM	+ 0.79	PNTG
ENSG	+ 0.78	SEM
EHAB	+ 0.72	EHC
UHS	+ 0.72	SEM

High negative correlations

OPCH	- 0.61	PNTG
EHAB	- 0.42	ACHC
OPCH	- 0.34	SEM
OPCH	- 0.32	ENSG
EHAB	- 0.31	PNTG
EHAB	- 0.27	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	1.04	0.06	0.06	0.01	1.34	(1.10)	1.84	(2.36)	6.49
PNTG	1.95	(0.23)	0.00	(0.57)	0.00	0.00	3.57	(3.99)	15.62
ACHC	2.15	(0.37)	0.00	1.06	0.00	0.00	4.10	(3.00)	34.24
SEM	1.68	(0.14)	0.00	(0.18)	0.00	0.00	3.41	(3.79)	11.55
ENSG	1.32	(0.07)	0.00	(0.17)	0.00	0.00	2.40	(2.56)	11.10
UHS	1.48	(0.01)	0.03	0.67	2.19	(1.39)	2.96	(3.61)	9.97
SGRY	1.60	0.29	0.21	2.17	1.46	(2.28)	2.92	(2.19)	23.37
OPCH	1.37	0.66	0.51	0.67	0.72	(1.62)	3.61	(1.88)	17.52
AMED	0.34	0.13	0.47	(3.18)	0.00	(0.40)	0.61	(0.38)	6.31
EHAB	1.61	0.21	0.08	0.14	2.27	(1.59)	3.81	(3.65)	10.46

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