Addus HomeCare Correlations

ADUS Stock

USD 105.32 1.84 1.78%

The current 90-days correlation between Addus HomeCare and National HealthCare is 0.4 (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

Very good diversification

The correlation between Addus HomeCare and DJI is -0.37 (i.e., Very 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.

Build AI portfolio with Addus Stock

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 population.

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

Moving together with Addus Stock

0.71	DVA	DaVita HealthCare	Pair Corr
0.68	REG	Regis Healthcare	Pair Corr
0.62	4WK	Wenzhou Kangning Hospital	Pair Corr
0.65	RDNT	RadNet Inc	Pair Corr

Moving against Addus Stock

0.59	SLB	Schlumberger NV	Pair Corr
0.57	SPGX	Sustainable Projects	Pair Corr
0.57	CUEN	Cuentas	Pair Corr
0.55	FHRT	First Hartford	Pair Corr
0.49	AHX	Apiam Animal Health	Pair Corr
0.46	LIN	Linde plc Ordinary Earnings Call This Week	Pair Corr
0.44	MGWFF	Maple Leaf Green	Pair Corr
0.43	BTSG	BrightSpring Health	Pair Corr
0.42	CLH	Cardinal Health Earnings Call This Week	Pair Corr
0.4	OCA	Oceania Healthcare	Pair Corr
0.33	RMY	Ramsay Health Care	Pair Corr
0.33	TPRP	Tower Properties	Pair Corr
0.32	ELV	Elevance Health	Pair Corr
0.32	WTER	Alkaline Water	Pair Corr

Related Correlations Analysis

	NHC	BKD	ARDT	AVAH	ACHC	MD	ITGR	INSP	SEM	PINC
NHC		0.74	-0.72	-0.2	-0.7	0.39	0.72	0.33	0.74	-0.7	NHC
BKD	0.74		-0.68	-0.39	-0.66	0.26	0.8	-0.03	0.48	-0.5	BKD
ARDT	-0.72	-0.68		0.42	0.9	-0.54	-0.56	-0.42	-0.55	0.61	ARDT
AVAH	-0.2	-0.39	0.42		0.47	-0.23	-0.29	0.24	0.12	0.25	AVAH
ACHC	-0.7	-0.66	0.9	0.47		-0.5	-0.68	-0.31	-0.51	0.73	ACHC
MD	0.39	0.26	-0.54	-0.23	-0.5		0.08	0.48	0.12	0.0	MD
ITGR	0.72	0.8	-0.56	-0.29	-0.68	0.08		-0.15	0.63	-0.73	ITGR
INSP	0.33	-0.03	-0.42	0.24	-0.31	0.48	-0.15		0.5	-0.26	INSP
SEM	0.74	0.48	-0.55	0.12	-0.51	0.12	0.63	0.5		-0.73	SEM
PINC	-0.7	-0.5	0.61	0.25	0.73	0.0	-0.73	-0.26	-0.73		PINC
	NHC	BKD	ARDT	AVAH	ACHC	MD	ITGR	INSP	SEM	PINC

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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

ACHC	+ 0.9	ARDT
ITGR	+ 0.8	BKD
BKD	+ 0.74	NHC
SEM	+ 0.74	NHC
PINC	+ 0.73	ACHC
ITGR	+ 0.72	NHC

High negative correlations

PINC	- 0.73	SEM
PINC	- 0.73	ITGR
ARDT	- 0.72	NHC
PINC	- 0.7	NHC
ACHC	- 0.7	NHC
ITGR	- 0.68	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
NHC	1.33	0.24	0.13	0.31	1.59	(1.39)	2.84	(2.20)	9.28
BKD	1.59	0.82	0.62	1.99	0.38	(2.10)	4.34	(1.70)	9.68
ARDT	2.18	(0.91)	0.00	(0.27)	0.00	0.00	3.47	(3.69)	36.66
AVAH	2.09	(0.22)	0.00	(0.17)	0.00	0.00	4.50	(5.27)	16.94
ACHC	3.03	(0.74)	0.00	(0.78)	0.00	0.00	5.71	(7.74)	33.41
MD	1.85	0.33	0.15	0.52	1.82	(2.09)	3.16	(3.57)	28.51
ITGR	1.32	0.31	0.16	0.55	1.46	(1.34)	3.57	(3.03)	8.03
INSP	3.67	0.08	0.02	0.09	5.08	(4.17)	7.93	(4.87)	49.96
SEM	1.15	0.05	0.05	0.07	1.13	(1.38)	2.25	(2.37)	13.50
PINC	0.92	(0.39)	0.00	0.54	0.00	0.00	0.56	(0.57)	30.54

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