Encompass Health Correlations

EHC Stock

USD 99.22 1.41 1.40%

The current 90-days correlation between Encompass Health Corp and The Ensign Group is 0.63 (i.e., Poor diversification). The correlation of Encompass Health 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.

Encompass Health Correlation With Market

Weak diversification

The correlation between Encompass Health Corp 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 Encompass Health Corp 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 Encompass Health Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Encompass Stock

0.74	CI	Cigna Corp	Pair Corr
0.7	BAX	Baxter International	Pair Corr
0.79	CVS	CVS Health Corp	Pair Corr
0.64	SEM	Select Medical Holdings	Pair Corr
0.69	UHS	Universal Health Services	Pair Corr
0.61	UNH	UnitedHealth Group	Pair Corr
0.73	MMSI	Merit Medical Systems	Pair Corr
0.7	NVST	Envista Holdings Corp	Pair Corr
0.76	CRVL	CorVel Corp	Pair Corr

Moving against Encompass Stock

0.41	EMBC	Embecta Corp	Pair Corr
0.4	CNC	Centene Corp	Pair Corr
0.32	DHR	Danaher	Pair Corr
0.52	ADUS	Addus HomeCare	Pair Corr
0.45	AKYA	Akoya Biosciences Earnings Call This Week	Pair Corr
0.4	ANGO	AngioDynamics	Pair Corr
0.36	WST	West Pharmaceutical	Pair Corr
0.34	DRMA	Dermata Therapeutics	Pair Corr

Related Correlations Analysis

	PNTG	ENSG	INNV	MODV	ACHC	SEM	ADUS	EHAB	CCM	NHC
PNTG		0.84	0.89	0.78	-0.34	0.79	0.11	-0.25	-0.11	0.86	PNTG
ENSG	0.84		0.74	0.55	-0.06	0.87	0.28	-0.12	-0.05	0.63	ENSG
INNV	0.89	0.74		0.9	-0.43	0.68	0.16	-0.36	0.0	0.9	INNV
MODV	0.78	0.55	0.9		-0.49	0.45	0.11	-0.37	0.01	0.93	MODV
ACHC	-0.34	-0.06	-0.43	-0.49		-0.06	0.15	0.35	0.06	-0.59	ACHC
SEM	0.79	0.87	0.68	0.45	-0.06		0.11	-0.05	-0.05	0.57	SEM
ADUS	0.11	0.28	0.16	0.11	0.15	0.11		-0.25	-0.2	0.07	ADUS
EHAB	-0.25	-0.12	-0.36	-0.37	0.35	-0.05	-0.25		0.05	-0.32	EHAB
CCM	-0.11	-0.05	0.0	0.01	0.06	-0.05	-0.2	0.05		-0.04	CCM
NHC	0.86	0.63	0.9	0.93	-0.59	0.57	0.07	-0.32	-0.04		NHC
	PNTG	ENSG	INNV	MODV	ACHC	SEM	ADUS	EHAB	CCM	NHC

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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	+ 0.93	MODV
MODV	+ 0.9	INNV
NHC	+ 0.9	INNV
INNV	+ 0.89	PNTG
SEM	+ 0.87	ENSG
NHC	+ 0.86	PNTG

High negative correlations

NHC	- 0.59	ACHC
ACHC	- 0.49	MODV
ACHC	- 0.43	INNV
EHAB	- 0.37	MODV
EHAB	- 0.36	INNV
ACHC	- 0.34	PNTG

Risk-Adjusted Indicators

There is a big difference between Encompass Stock performing well and Encompass Health 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 Encompass Health'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
PNTG	1.76	(0.30)	0.00	(0.31)	0.00	0.00	3.46	(3.74)	9.29
ENSG	1.21	(0.09)	0.00	(0.10)	0.00	0.00	2.18	(2.29)	11.10
INNV	2.49	(0.56)	0.00	(0.48)	0.00	0.00	4.53	(7.11)	27.64
MODV	6.03	(1.28)	0.00	1.95	0.00	0.00	13.41	(11.67)	60.89
ACHC	1.69	0.21	0.12	0.28	1.56	(2.13)	4.60	(2.53)	13.77
SEM	1.76	(0.03)	0.00	(0.02)	0.00	0.00	3.61	(3.90)	11.62
ADUS	1.46	(0.28)	0.00	(0.80)	0.00	0.00	2.46	(3.22)	8.81
EHAB	1.72	0.24	0.10	0.22	2.00	(1.86)	3.81	(3.65)	17.94
CCM	5.02	0.43	0.06	9.70	6.50	(6.80)	11.92	(9.00)	50.12
NHC	1.33	(0.48)	0.00	2.94	0.00	0.00	2.15	(3.29)	7.80

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