Surgery Partners Correlations

SGRY Stock

USD 24.21 0.18 0.74%

The current 90-days correlation between Surgery Partners and The Ensign Group is 0.18 (i.e., Average diversification). The correlation of Surgery Partners 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Surgery Partners Correlation With Market

Modest diversification

The correlation between Surgery Partners and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Surgery Partners and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Surgery 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 metropolitan statistical area.

For more information on how to buy Surgery Stock please use our How to Invest in Surgery Partners guide.

Moving together with Surgery Stock

0.75	ALC	Alcon AG	Pair Corr
0.73	BSX	Boston Scientific Corp	Pair Corr
0.69	CVS	CVS Health Corp Aggressive Push	Pair Corr
0.84	EHC	Encompass Health Corp	Pair Corr
0.85	FNA	Paragon 28	Pair Corr
0.66	MDT	Medtronic PLC	Pair Corr
0.63	GDRX	Goodrx Holdings	Pair Corr
0.73	INMD	InMode	Pair Corr
0.62	IRTC	iRhythm Technologies	Pair Corr
0.69	LUCD	Lucid Diagnostics	Pair Corr
0.73	NVRO	Nevro Corp	Pair Corr
0.68	OPCH	Option Care Health	Pair Corr

Moving against Surgery Stock

0.52	WST	West Pharmaceutical	Pair Corr
0.61	SGHT	Sight Sciences	Pair Corr
0.59	NNOX	Nano X Imaging	Pair Corr
0.54	OTRK	Ontrak Inc	Pair Corr
0.53	SRDX	SurModics	Pair Corr
0.5	ADUS	Addus HomeCare	Pair Corr
0.45	MODD	Modular Medical	Pair Corr
0.42	CNMD	CONMED	Pair Corr
0.4	MDAI	Spectral AI	Pair Corr
0.34	APYX	Apyx Medical	Pair Corr

Related Correlations Analysis

	PNTG	ENSG	EHC	HCSG	EHAB	INNV	NHC	SEM	CCM	UHS
PNTG		0.66	-0.19	0.62	-0.41	0.54	0.64	0.83	0.23	0.83	PNTG
ENSG	0.66		0.01	0.42	-0.15	0.47	0.32	0.78	0.16	0.74	ENSG
EHC	-0.19	0.01		-0.75	0.69	-0.62	-0.36	0.05	-0.05	0.12	EHC
HCSG	0.62	0.42	-0.75		-0.62	0.76	0.6	0.42	0.08	0.36	HCSG
EHAB	-0.41	-0.15	0.69	-0.62		-0.6	-0.52	-0.37	-0.4	-0.22	EHAB
INNV	0.54	0.47	-0.62	0.76	-0.6		0.75	0.5	0.2	0.32	INNV
NHC	0.64	0.32	-0.36	0.6	-0.52	0.75		0.55	0.32	0.34	NHC
SEM	0.83	0.78	0.05	0.42	-0.37	0.5	0.55		0.34	0.86	SEM
CCM	0.23	0.16	-0.05	0.08	-0.4	0.2	0.32	0.34		0.23	CCM
UHS	0.83	0.74	0.12	0.36	-0.22	0.32	0.34	0.86	0.23		UHS
	PNTG	ENSG	EHC	HCSG	EHAB	INNV	NHC	SEM	CCM	UHS

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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

UHS	+ 0.86	SEM
SEM	+ 0.83	PNTG
UHS	+ 0.83	PNTG
SEM	+ 0.78	ENSG
INNV	+ 0.76	HCSG
NHC	+ 0.75	INNV

High negative correlations

HCSG	- 0.75	EHC
EHAB	- 0.62	HCSG
INNV	- 0.62	EHC
INNV	- 0.6	EHAB
NHC	- 0.52	EHAB
EHAB	- 0.41	PNTG

Risk-Adjusted Indicators

There is a big difference between Surgery Stock performing well and Surgery Partners 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 Surgery Partners' 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	1.99	(0.16)	0.00	(0.32)	0.00	0.00	3.57	(3.99)	15.62
ENSG	1.35	(0.01)	0.00	(0.09)	0.00	0.00	2.40	(2.29)	11.10
EHC	1.08	0.10	0.08	0.07	1.36	(1.11)	1.84	(2.14)	6.49
HCSG	1.31	(0.07)	0.00	(0.19)	0.00	0.00	2.51	(2.96)	9.76
EHAB	1.59	0.36	0.14	0.30	2.20	(1.59)	3.81	(3.56)	10.46
INNV	2.17	(0.40)	0.00	(0.62)	0.00	0.00	4.53	(5.17)	14.84
NHC	1.30	(0.28)	0.00	(0.52)	0.00	0.00	2.19	(3.29)	7.80
SEM	1.64	(0.13)	0.00	(0.18)	0.00	0.00	2.86	(3.71)	10.84
CCM	5.13	0.02	0.01	(0.12)	7.00	(7.04)	11.55	(10.53)	50.12
UHS	1.53	(0.01)	0.00	(0.08)	0.00	0.00	2.96	(3.61)	9.97

Surgery Partners Corporate Executives

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

	David Doherty	Executive CFO	Profile
	David CPA	Executive CFO	Profile

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