Aveanna Healthcare Correlations

AVAH Stock

USD 5.38 0.12 2.18%

The current 90-days correlation between Aveanna Healthcare and Acadia Healthcare is 0.07 (i.e., Significant diversification). The correlation of Aveanna 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.

Aveanna Healthcare Correlation With Market

Average diversification

The correlation between Aveanna Healthcare Holdings and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aveanna Healthcare Holdings 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 Aveanna Healthcare Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving against Aveanna Stock

0.32	OCEAW	Ocean Biomedical	Pair Corr
0.39	LYRA	Lyra Therapeutics	Pair Corr

Related Correlations Analysis

	ACHC	PNTG	BKD	AMS	ENSG	UHS	ADUS	EHC	SGRY	SEM
ACHC		0.85	-0.84	0.79	0.58	0.77	0.83	-0.25	-0.19	0.84	ACHC
PNTG	0.85		-0.79	0.87	0.67	0.74	0.88	-0.25	-0.29	0.79	PNTG
BKD	-0.84	-0.79		-0.8	-0.55	-0.61	-0.85	0.3	0.21	-0.78	BKD
AMS	0.79	0.87	-0.8		0.58	0.55	0.92	-0.52	-0.5	0.72	AMS
ENSG	0.58	0.67	-0.55	0.58		0.69	0.62	-0.04	-0.15	0.76	ENSG
UHS	0.77	0.74	-0.61	0.55	0.69		0.59	0.16	0.07	0.77	UHS
ADUS	0.83	0.88	-0.85	0.92	0.62	0.59		-0.52	-0.53	0.8	ADUS
EHC	-0.25	-0.25	0.3	-0.52	-0.04	0.16	-0.52		0.84	-0.04	EHC
SGRY	-0.19	-0.29	0.21	-0.5	-0.15	0.07	-0.53	0.84		-0.07	SGRY
SEM	0.84	0.79	-0.78	0.72	0.76	0.77	0.8	-0.04	-0.07		SEM
	ACHC	PNTG	BKD	AMS	ENSG	UHS	ADUS	EHC	SGRY	SEM

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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

ADUS	+ 0.92	AMS
ADUS	+ 0.88	PNTG
AMS	+ 0.87	PNTG
PNTG	+ 0.85	ACHC
SEM	+ 0.84	ACHC
SGRY	+ 0.84	EHC

High negative correlations

ADUS	- 0.85	BKD
BKD	- 0.84	ACHC
AMS	- 0.8	BKD
BKD	- 0.79	PNTG
SEM	- 0.78	BKD
UHS	- 0.61	BKD

Risk-Adjusted Indicators

There is a big difference between Aveanna Stock performing well and Aveanna 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 Aveanna 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
ACHC	2.08	(0.34)	0.00	3.10	0.00	0.00	4.10	(3.00)	34.24
PNTG	1.98	(0.17)	0.00	(0.27)	0.00	0.00	3.67	(3.99)	15.62
BKD	1.93	0.20	0.08	(1.01)	2.09	(2.14)	4.83	(3.49)	12.23
AMS	1.47	(0.20)	0.00	(1.30)	0.00	0.00	3.11	(2.92)	7.59
ENSG	1.30	(0.08)	0.00	(0.10)	0.00	0.00	2.40	(2.29)	11.10
UHS	1.55	0.07	0.03	0.09	2.16	(1.50)	3.30	(3.61)	9.97
ADUS	1.48	(0.44)	0.00	(0.59)	0.00	0.00	2.34	(3.22)	13.15
EHC	1.07	0.10	0.07	0.12	1.29	(1.15)	2.15	(2.14)	6.49
SGRY	1.67	0.33	0.21	0.43	1.37	(2.44)	3.39	(2.19)	23.37
SEM	1.61	(0.09)	0.00	(0.07)	0.00	0.00	3.41	(3.71)	11.55

Aveanna Healthcare Corporate Management

Robert Radics	Pres Hospice	Profile
Jerry Perchik	Chief Secretary	Profile
Rachel Witt	Chief Officer	Profile
Debbie Stewart	Senior Officer	Profile
Beth Rubio	Chief Officer	Profile
Jeffrey Shaner	Chief Officer	Profile

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