DaVita HealthCare Correlations

DVA Stock

USD 150.22 0.56 0.37%

The current 90-days correlation between DaVita HealthCare and The Ensign Group is 0.35 (i.e., Weak 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

Weak diversification

The correlation between DaVita HealthCare Partners and DJI is 0.39 (i.e., Weak 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

0.86	ELMD	Electromed	Pair Corr
0.67	ICUI	ICU Medical	Pair Corr
0.63	LIVN	LivaNova PLC	Pair Corr
0.78	MLSS	Milestone Scientific Earnings Call Tomorrow	Pair Corr
0.61	NVST	Envista Holdings Corp Sell-off Trend	Pair Corr
0.76	OFIX	Orthofix Medical	Pair Corr
0.64	CLPT	Clearpoint Neuro	Pair Corr
0.8	CVRX	CVRx Inc	Pair Corr
0.65	DCTH	Delcath Systems	Pair Corr

Moving against DaVita Stock

0.66	LUNG	Pulmonx Corp	Pair Corr
0.4	LUCD	Lucid Diagnostics	Pair Corr
0.35	INMD	InMode	Pair Corr
0.41	MNDR	Mobile health Network	Pair Corr
0.63	OCX	OncoCyte Corp	Pair Corr
0.52	GILD	Gilead Sciences Potential Growth	Pair Corr
0.43	GSK	GlaxoSmithKline PLC ADR	Pair Corr
0.36	AZN	AstraZeneca PLC ADR	Pair Corr

Related Correlations Analysis

	SGRY	ACHC	ENSG	FSNUY	THC	HCA	USPH	AMED	OPCH	EHC
SGRY		-0.18	-0.17	0.57	0.38	0.69	-0.39	0.46	0.72	0.83	SGRY
ACHC	-0.18		0.57	-0.74	0.64	-0.2	0.84	-0.02	-0.46	-0.24	ACHC
ENSG	-0.17	0.57		-0.39	0.66	0.17	0.58	-0.15	-0.27	-0.03	ENSG
FSNUY	0.57	-0.74	-0.39		-0.19	0.68	-0.86	0.53	0.89	0.6	FSNUY
THC	0.38	0.64	0.66	-0.19		0.48	0.47	0.18	0.11	0.43	THC
HCA	0.69	-0.2	0.17	0.68	0.48		-0.45	0.55	0.78	0.73	HCA
USPH	-0.39	0.84	0.58	-0.86	0.47	-0.45		-0.44	-0.7	-0.35	USPH
AMED	0.46	-0.02	-0.15	0.53	0.18	0.55	-0.44		0.68	0.36	AMED
OPCH	0.72	-0.46	-0.27	0.89	0.11	0.78	-0.7	0.68		0.77	OPCH
EHC	0.83	-0.24	-0.03	0.6	0.43	0.73	-0.35	0.36	0.77		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

OPCH	+ 0.89	FSNUY
USPH	+ 0.84	ACHC
EHC	+ 0.83	SGRY
OPCH	+ 0.78	HCA
EHC	+ 0.77	OPCH
EHC	+ 0.73	HCA

High negative correlations

USPH	- 0.86	FSNUY
FSNUY	- 0.74	ACHC
OPCH	- 0.7	USPH
OPCH	- 0.46	ACHC
USPH	- 0.45	HCA
AMED	- 0.44	USPH

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	1.72	0.25	0.14	0.34	1.65	(2.44)	3.39	(2.61)	23.37
ACHC	2.05	(0.41)	0.00	4.65	0.00	0.00	4.10	(3.00)	34.24
ENSG	1.33	(0.11)	0.00	(0.14)	0.00	0.00	2.40	(2.56)	11.10
FSNUY	1.25	0.30	0.21	0.87	1.10	(1.40)	3.09	(1.91)	8.10
THC	1.88	0.00	0.00	0.00	2.62	(1.89)	2.99	(3.84)	12.10
HCA	1.53	0.15	0.06	0.22	2.07	(1.45)	3.07	(3.75)	10.61
USPH	1.14	(0.38)	0.00	(0.54)	0.00	0.00	2.13	(2.57)	8.66
AMED	0.37	0.11	0.20	5.15	0.21	(0.42)	0.82	(0.48)	6.31
OPCH	1.37	0.63	0.46	0.68	0.72	(1.59)	3.61	(1.88)	17.52
EHC	1.11	0.06	0.04	0.08	1.38	(1.15)	2.15	(2.36)	6.49

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