Addus HomeCare Correlations

ADUS Stock

USD 133.87 0.55 0.41%

The current 90-days correlation between Addus HomeCare and Pennant Group is 0.49 (i.e., Very weak diversification). The correlation of Addus HomeCare 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.

Addus HomeCare Correlation With Market

Good diversification

The correlation between Addus HomeCare and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Addus HomeCare and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Addus HomeCare. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

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

Moving together with Addus Stock

0.66	FIGS	Figs Inc	Pair Corr
0.64	AGL	agilon health Trending	Pair Corr

Moving against Addus Stock

0.61	VREX	Varex Imaging Corp	Pair Corr
0.55	ENOV	Enovis Corp	Pair Corr
0.53	LH	Laboratory	Pair Corr
0.39	GH	Guardant Health	Pair Corr
0.36	MD	Mednax Inc	Pair Corr
0.33	DH	Definitive Healthcare	Pair Corr
0.33	OM	Outset Medical	Pair Corr
0.32	VEEV	Veeva Systems Class	Pair Corr
0.31	ELMD	Electromed	Pair Corr
0.68	DGX	Quest Diagnostics	Pair Corr
0.61	XAIR	Beyond Air	Pair Corr
0.58	FOXO	FOXO Technologies	Pair Corr
0.44	EHC	Encompass Health Corp	Pair Corr
0.39	COR	Cencora	Pair Corr
0.35	CAH	Cardinal Health	Pair Corr
0.32	ENZ	Enzo Biochem	Pair Corr

Related Correlations Analysis

	EHC	PNTG	ACHC	SEM	ENSG	UHS	SGRY	OPCH	AMED	EHAB
EHC		0.56	-0.2	0.71	0.64	0.34	0.26	-0.33	-0.05	0.17	EHC
PNTG	0.56		0.54	0.02	0.92	0.89	0.88	0.38	0.58	-0.45	PNTG
ACHC	-0.2	0.54		-0.62	0.4	0.71	0.7	0.85	0.7	-0.49	ACHC
SEM	0.71	0.02	-0.62		0.04	-0.15	-0.24	-0.6	-0.35	0.48	SEM
ENSG	0.64	0.92	0.4	0.04		0.76	0.79	0.23	0.5	-0.43	ENSG
UHS	0.34	0.89	0.71	-0.15	0.76		0.9	0.57	0.72	-0.53	UHS
SGRY	0.26	0.88	0.7	-0.24	0.79	0.9		0.51	0.81	-0.57	SGRY
OPCH	-0.33	0.38	0.85	-0.6	0.23	0.57	0.51		0.59	-0.39	OPCH
AMED	-0.05	0.58	0.7	-0.35	0.5	0.72	0.81	0.59		-0.65	AMED
EHAB	0.17	-0.45	-0.49	0.48	-0.43	-0.53	-0.57	-0.39	-0.65		EHAB
	EHC	PNTG	ACHC	SEM	ENSG	UHS	SGRY	OPCH	AMED	EHAB

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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

ENSG	+ 0.92	PNTG
SGRY	+ 0.9	UHS
UHS	+ 0.89	PNTG
SGRY	+ 0.88	PNTG
OPCH	+ 0.85	ACHC
AMED	+ 0.81	SGRY

High negative correlations

EHAB	- 0.65	AMED
SEM	- 0.62	ACHC
OPCH	- 0.6	SEM
EHAB	- 0.57	SGRY
EHAB	- 0.53	UHS
EHAB	- 0.49	ACHC

Risk-Adjusted Indicators

There is a big difference between Addus Stock performing well and Addus HomeCare 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 Addus HomeCare'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	0.86	(0.03)	0.00	(0.07)	0.00	0.00	1.66	(1.93)	10.30
PNTG	1.75	(0.35)	0.00	(2.22)	0.00	0.00	3.76	(3.74)	8.51
ACHC	2.06	(0.35)	0.00	(1.31)	0.00	0.00	4.60	(3.21)	21.39
SEM	1.75	0.08	0.04	0.19	1.92	(2.02)	3.02	(3.08)	16.75
ENSG	1.02	(0.12)	0.00	(0.38)	0.00	0.00	2.32	(1.84)	10.08
UHS	1.37	(0.26)	0.00	(0.69)	0.00	0.00	2.45	(3.89)	14.88
SGRY	2.52	(0.65)	0.00	(0.80)	0.00	0.00	3.73	(5.92)	17.45
OPCH	2.04	(0.01)	0.00	0.00	4.72	(1.88)	3.83	(3.57)	25.16
AMED	0.64	(0.08)	0.00	3.57	0.00	0.00	0.94	(1.78)	7.27
EHAB	1.70	0.18	0.08	0.52	1.77	(2.06)	4.08	(3.25)	17.54

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