National HealthCare Correlations

NHC Stock

USD 90.72 0.52 0.57%

The current 90-days correlation between National HealthCare and US Physicalrapy is 0.39 (i.e., Weak diversification). The correlation of National 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.

National HealthCare Correlation With Market

Weak diversification

The correlation between National HealthCare and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National HealthCare and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in National HealthCare. 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.

For information on how to trade National Stock refer to our How to Trade National Stock guide.

Moving together with National Stock

0.76	XAIR	Beyond Air	Pair Corr
0.65	HAE	Haemonetics	Pair Corr
0.67	HOLX	Hologic	Pair Corr
0.65	INFU	InfuSystems Holdings	Pair Corr
0.67	PAVMZ	PAVmed Series Z	Pair Corr
0.64	SSKN	STRATA Skin Sciences Earnings Call This Week	Pair Corr
0.62	TELA	Tela Bio	Pair Corr
0.75	CDIOW	Cardio Diagnostics	Pair Corr
0.71	VINC	Vincerx Pharma Earnings Call This Week	Pair Corr
0.73	VRDN	Viridian Therapeutics	Pair Corr
0.74	ELVN	Enliven Therapeutics	Pair Corr
0.85	WINT	Windtree Therapeutics	Pair Corr

Moving against National Stock

0.72	PEN	Penumbra	Pair Corr
0.64	LUCD	Lucid Diagnostics	Pair Corr
0.62	RVP	Retractable Technologies Earnings Call This Week	Pair Corr
0.61	LUNG	Pulmonx Corp	Pair Corr
0.58	ACONW	Aclarion	Pair Corr
0.54	KIDS	Orthopediatrics Corp	Pair Corr
0.37	INMD	InMode	Pair Corr
0.74	NURO	NeuroMetrix	Pair Corr
0.46	MNDR	Mobile health Network	Pair Corr
0.33	TMDX	TransMedics Group	Pair Corr
0.31	MLSS	Milestone Scientific Earnings Call This Week	Pair Corr
0.31	DCTH	Delcath Systems Earnings Call Tomorrow	Pair Corr
0.78	SNY	Sanofi ADR	Pair Corr
0.72	AZN	AstraZeneca PLC ADR	Pair Corr
0.71	NVS	Novartis AG ADR	Pair Corr
0.66	PLX	Protalix Biotherapeutics	Pair Corr
0.66	GILD	Gilead Sciences	Pair Corr
0.64	GSK	GlaxoSmithKline PLC ADR	Pair Corr

Related Correlations Analysis

	ENSG	USPH	ATRI	CASS	BKD
ENSG		0.62	0.0	-0.36	-0.54	ENSG
USPH	0.62		0.0	-0.4	-0.74	USPH
ATRI	0.0	0.0		0.0	0.0	ATRI
CASS	-0.36	-0.4	0.0		0.53	CASS
BKD	-0.54	-0.74	0.0	0.53		BKD
	ENSG	USPH	ATRI	CASS	BKD

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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

USPH	+ 0.62	ENSG
BKD	+ 0.53	CASS
ATRI	+ 0.0	ENSG
ATRI	+ 0.0	USPH
CASS	+ 0.0	ATRI
BKD	+ 0.0	ATRI

High negative correlations

BKD	- 0.74	USPH
BKD	- 0.54	ENSG
CASS	- 0.4	USPH
CASS	- 0.36	ENSG
BKD	- 0.0	ATRI
CASS	- 0.0	ATRI

Risk-Adjusted Indicators

There is a big difference between National Stock performing well and National 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 National 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
ENSG	1.32	(0.10)	0.00	(0.21)	0.00	0.00	2.40	(2.56)	11.10
USPH	1.15	(0.33)	0.00	(0.63)	0.00	0.00	2.25	(2.57)	8.66
ATRI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CASS	1.13	0.03	0.00	(0.03)	0.00	0.00	2.58	(2.61)	8.63
BKD	1.91	0.30	0.12	0.21	2.07	(2.14)	4.83	(3.49)	12.23

National HealthCare Corporate Executives

Elected by the shareholders, the National HealthCare's board of directors comprises two types of representatives: National HealthCare inside directors who are chosen from within the company, and outside directors, selected externally and held independent of National. The board's role is to monitor National HealthCare's management team and ensure that shareholders' interests are well served. National HealthCare's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, National HealthCare's outside directors are responsible for providing unbiased perspectives on the board's policies.

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