DaVita HealthCare Correlations

DVA Stock

USD 165.63 2.33 1.39%

The current 90-days correlation between DaVita HealthCare and The Ensign Group is 0.08 (i.e., Significant diversification). The correlation of DaVita 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.

DaVita HealthCare Correlation With Market

Average diversification

The correlation between DaVita HealthCare Partners and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DaVita HealthCare Partners 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 DaVita HealthCare 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 real.

Moving against DaVita Stock

0.31	EDAP	EDAP TMS SA	Pair Corr
0.36	ENSG	Ensign Group	Pair Corr
0.31	FLGT	Fulgent Genetics	Pair Corr
0.42	AWH	Aspira Womens Health	Pair Corr

Related Correlations Analysis

	SGRY	ACHC	ENSG	FSNUY	THC	HCA	USPH	AMED	OPCH	EHC
SGRY		0.66	0.35	0.79	0.6	0.89	-0.65	0.9	0.76	-0.56	SGRY
ACHC	0.66		0.32	0.74	0.4	0.73	-0.46	0.71	0.88	-0.83	ACHC
ENSG	0.35	0.32		0.29	0.23	0.18	-0.31	0.34	0.23	-0.16	ENSG
FSNUY	0.79	0.74	0.29		0.39	0.72	-0.61	0.82	0.74	-0.65	FSNUY
THC	0.6	0.4	0.23	0.39		0.52	-0.16	0.4	0.26	-0.06	THC
HCA	0.89	0.73	0.18	0.72	0.52		-0.7	0.82	0.87	-0.7	HCA
USPH	-0.65	-0.46	-0.31	-0.61	-0.16	-0.7		-0.66	-0.62	0.67	USPH
AMED	0.9	0.71	0.34	0.82	0.4	0.82	-0.66		0.8	-0.67	AMED
OPCH	0.76	0.88	0.23	0.74	0.26	0.87	-0.62	0.8		-0.85	OPCH
EHC	-0.56	-0.83	-0.16	-0.65	-0.06	-0.7	0.67	-0.67	-0.85		EHC
	SGRY	ACHC	ENSG	FSNUY	THC	HCA	USPH	AMED	OPCH	EHC

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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

AMED	+ 0.9	SGRY
HCA	+ 0.89	SGRY
OPCH	+ 0.88	ACHC
OPCH	+ 0.87	HCA
AMED	+ 0.82	FSNUY
AMED	+ 0.82	HCA

High negative correlations

EHC	- 0.85	OPCH
EHC	- 0.83	ACHC
EHC	- 0.7	HCA
USPH	- 0.7	HCA
EHC	- 0.67	AMED
AMED	- 0.66	USPH

Risk-Adjusted Indicators

There is a big difference between DaVita Stock performing well and DaVita 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 DaVita 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
SGRY	2.09	(0.59)	0.00	(0.40)	0.00	0.00	3.72	(4.88)	17.97
ACHC	2.26	(1.02)	0.00	(0.81)	0.00	0.00	3.36	(5.78)	21.88
ENSG	1.05	0.01	0.00	0.07	0.00	0.00	2.32	(2.11)	10.08
FSNUY	0.99	(0.16)	0.00	(0.14)	0.00	0.00	1.88	(1.95)	5.02
THC	2.07	(0.22)	0.00	(0.47)	0.00	0.00	3.81	(4.49)	21.18
HCA	1.18	(0.28)	0.00	(2.17)	0.00	0.00	2.06	(2.82)	11.25
USPH	1.35	(0.01)	0.10	0.11	1.23	(1.61)	3.06	(2.56)	20.31
AMED	0.43	(0.15)	0.00	(0.42)	0.00	0.00	0.61	(0.93)	5.99
OPCH	1.80	(0.55)	0.00	(0.21)	0.00	0.00	2.91	(3.57)	26.20
EHC	0.91	0.14	0.06	0.50	0.84	(0.98)	1.74	(1.86)	9.75

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