Universal Health Correlations

UHS Stock

USD 185.91 4.33 2.38%

The current 90-days correlation between Universal Health Services and The Ensign Group is 0.65 (i.e., Poor diversification). The correlation of Universal 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Universal Health Correlation With Market

Weak diversification

The correlation between Universal Health Services and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Universal Health Services 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 Universal Health Services. 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 Universal Stock

0.75	ELMD	Electromed	Pair Corr
0.62	XAIR	Beyond Air	Pair Corr
0.77	ICUI	ICU Medical	Pair Corr
0.61	INFU	InfuSystems Holdings	Pair Corr
0.73	LIVN	LivaNova PLC	Pair Corr
0.68	MLSS	Milestone Scientific Earnings Call Tomorrow	Pair Corr
0.74	NPCE	Neuropace	Pair Corr
0.7	NVST	Envista Holdings Corp Sell-off Trend	Pair Corr
0.72	OFIX	Orthofix Medical	Pair Corr
0.7	PODD	Insulet	Pair Corr
0.71	CLPT	Clearpoint Neuro	Pair Corr
0.76	CVRX	CVRx Inc	Pair Corr

Moving against Universal Stock

0.44	LUNG	Pulmonx Corp	Pair Corr
0.37	INMD	InMode	Pair Corr
0.36	LUCD	Lucid Diagnostics	Pair Corr
0.54	MNDR	Mobile health Network	Pair Corr
0.76	OCX	OncoCyte Corp	Pair Corr
0.55	GILD	Gilead Sciences Potential Growth	Pair Corr
0.51	GSK	GlaxoSmithKline PLC ADR	Pair Corr
0.44	AZN	AstraZeneca PLC ADR	Pair Corr
0.39	NVS	Novartis AG ADR	Pair Corr
0.39	SNY	Sanofi ADR	Pair Corr

Related Correlations Analysis

	ENSG	ADUS	EHC	SGRY	HCA	CYH	ACHC	THC	DVA	AMN
ENSG		0.63	-0.03	-0.17	0.17	0.32	0.57	0.66	0.62	0.39	ENSG
ADUS	0.63		-0.51	-0.54	-0.45	0.37	0.82	0.44	0.58	0.12	ADUS
EHC	-0.03	-0.51		0.83	0.73	0.32	-0.24	0.43	0.11	0.0	EHC
SGRY	-0.17	-0.54	0.83		0.69	0.28	-0.18	0.38	0.13	0.06	SGRY
HCA	0.17	-0.45	0.73	0.69		0.08	-0.2	0.48	0.28	0.36	HCA
CYH	0.32	0.37	0.32	0.28	0.08		0.67	0.67	0.38	0.21	CYH
ACHC	0.57	0.82	-0.24	-0.18	-0.2	0.67		0.64	0.66	0.35	ACHC
THC	0.66	0.44	0.43	0.38	0.48	0.67	0.64		0.79	0.38	THC
DVA	0.62	0.58	0.11	0.13	0.28	0.38	0.66	0.79		0.3	DVA
AMN	0.39	0.12	0.0	0.06	0.36	0.21	0.35	0.38	0.3		AMN
	ENSG	ADUS	EHC	SGRY	HCA	CYH	ACHC	THC	DVA	AMN

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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

SGRY	+ 0.83	EHC
ACHC	+ 0.82	ADUS
DVA	+ 0.79	THC
HCA	+ 0.73	EHC
HCA	+ 0.69	SGRY
ACHC	+ 0.67	CYH

High negative correlations

SGRY	- 0.54	ADUS
EHC	- 0.51	ADUS
HCA	- 0.45	ADUS
ACHC	- 0.24	EHC
ACHC	- 0.2	HCA
ACHC	- 0.18	SGRY

Risk-Adjusted Indicators

There is a big difference between Universal Stock performing well and Universal 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 Universal 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
ENSG	1.33	(0.11)	0.00	(0.14)	0.00	0.00	2.40	(2.56)	11.10
ADUS	1.46	(0.47)	0.00	(0.62)	0.00	0.00	2.34	(3.22)	13.15
EHC	1.11	0.06	0.04	0.08	1.38	(1.15)	2.15	(2.36)	6.49
SGRY	1.72	0.25	0.14	0.34	1.65	(2.44)	3.39	(2.61)	23.37
HCA	1.53	0.15	0.06	0.22	2.07	(1.45)	3.07	(3.75)	10.61
CYH	2.74	(0.15)	0.00	(0.08)	0.00	0.00	6.30	(7.14)	17.72
ACHC	2.05	(0.41)	0.00	4.65	0.00	0.00	4.10	(3.00)	34.24
THC	1.88	0.00	0.00	0.00	2.62	(1.89)	2.99	(3.84)	12.10
DVA	1.47	0.05	0.02	0.05	2.85	(1.34)	3.15	(3.23)	14.24
AMN	2.24	0.00	0.00	0.01	2.59	(2.56)	4.62	(3.88)	16.43

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