Pennant Correlations

PNTG Stock

USD 25.50 0.27 1.05%

The current 90-days correlation between Pennant Group and Addus HomeCare is 0.16 (i.e., Average diversification). The correlation of Pennant 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.

Pennant Correlation With Market

Weak diversification

The correlation between Pennant Group and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pennant Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Pennant Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Pennant Stock

0.71	CI	Cigna Corp	Pair Corr
0.84	ENSG	Ensign Group	Pair Corr
0.84	COO	Cooper Companies,	Pair Corr
0.76	HAE	Haemonetics	Pair Corr
0.86	NHC	National HealthCare	Pair Corr
0.79	SEM	Select Medical Holdings	Pair Corr
0.81	TFX	Teleflex Incorporated	Pair Corr
0.81	UHS	Universal Health Services	Pair Corr
0.81	UNH	UnitedHealth Group	Pair Corr
0.89	INNV	InnovAge Holding Corp	Pair Corr
0.65	CRVL	CorVel Corp	Pair Corr

Moving against Pennant Stock

0.41	GH	Guardant Health Buyout Trend	Pair Corr
0.7	ANGO	AngioDynamics	Pair Corr
0.56	OPCH	Option Care Health	Pair Corr
0.42	VERV	Verve Therapeutics	Pair Corr
0.34	ACHC	Acadia Healthcare	Pair Corr
0.34	AKYA	Akoya Biosciences Earnings Call This Week	Pair Corr
0.33	AMED	Amedisys	Pair Corr

Related Correlations Analysis

	EHC	ACHC	SEM	ADUS	SGRY	ENSG	HCSG	EHAB	INNV	NHC
EHC		-0.12	0.64	-0.52	0.6	0.48	0.09	0.37	0.36	0.41	EHC
ACHC	-0.12		-0.06	0.15	0.13	-0.06	-0.1	0.35	-0.43	-0.59	ACHC
SEM	0.64	-0.06		0.11	0.15	0.87	0.36	-0.05	0.68	0.57	SEM
ADUS	-0.52	0.15	0.11		-0.66	0.28	0.42	-0.25	0.16	0.07	ADUS
SGRY	0.6	0.13	0.15	-0.66		-0.09	-0.59	0.5	-0.31	-0.25	SGRY
ENSG	0.48	-0.06	0.87	0.28	-0.09		0.55	-0.12	0.74	0.63	ENSG
HCSG	0.09	-0.1	0.36	0.42	-0.59	0.55		-0.1	0.72	0.68	HCSG
EHAB	0.37	0.35	-0.05	-0.25	0.5	-0.12	-0.1		-0.36	-0.32	EHAB
INNV	0.36	-0.43	0.68	0.16	-0.31	0.74	0.72	-0.36		0.9	INNV
NHC	0.41	-0.59	0.57	0.07	-0.25	0.63	0.68	-0.32	0.9		NHC
	EHC	ACHC	SEM	ADUS	SGRY	ENSG	HCSG	EHAB	INNV	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	+ 0.9	INNV
ENSG	+ 0.87	SEM
INNV	+ 0.74	ENSG
INNV	+ 0.72	HCSG
INNV	+ 0.68	SEM
NHC	+ 0.68	HCSG

High negative correlations

SGRY	- 0.66	ADUS
HCSG	- 0.59	SGRY
NHC	- 0.59	ACHC
ADUS	- 0.52	EHC
INNV	- 0.43	ACHC
INNV	- 0.36	EHAB

Risk-Adjusted Indicators

There is a big difference between Pennant Stock performing well and Pennant 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 Pennant'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	0.94	0.02	0.01	0.03	1.32	(0.92)	1.74	(2.36)	6.49
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
SGRY	2.19	0.28	0.12	0.27	2.21	(2.79)	4.58	(3.57)	22.73
ENSG	1.21	(0.09)	0.00	(0.10)	0.00	0.00	2.18	(2.29)	11.10
HCSG	1.44	(0.14)	0.00	0.40	0.00	0.00	2.62	(2.96)	9.76
EHAB	1.72	0.24	0.10	0.22	2.00	(1.86)	3.81	(3.65)	17.94
INNV	2.49	(0.56)	0.00	(0.48)	0.00	0.00	4.53	(7.11)	27.64
NHC	1.33	(0.48)	0.00	2.94	0.00	0.00	2.15	(3.29)	7.80

Pennant Corporate Management

Derek Bunker	Exec Officer	Profile
Jason Steik	Chief Officer	Profile
Kirk Cheney	General Secretary	Profile
Brent Guerisoli	Chief Officer	Profile
Jennifer CPA	Chief Officer	Profile
Lynette CPA	Chief Officer	Profile

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