Chemed Corp Correlations

CHE Stock

USD 570.96 7.68 1.36%

The current 90-days correlation between Chemed Corp and Encompass Health Corp is 0.03 (i.e., Significant diversification). The correlation of Chemed Corp 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.

Chemed Corp Correlation With Market

Weak diversification

The correlation between Chemed Corp and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chemed Corp 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 Chemed Corp. 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.

For information on how to trade Chemed Stock refer to our How to Trade Chemed Stock guide.

Moving against Chemed Stock

0.57	LH	Laboratory	Pair Corr
0.55	GH	Guardant Health	Pair Corr
0.49	MD	Mednax Inc	Pair Corr
0.47	VREX	Varex Imaging Corp	Pair Corr
0.44	ECOR	Electrocore LLC	Pair Corr
0.35	OM	Outset Medical	Pair Corr
0.74	XAIR	Beyond Air	Pair Corr
0.52	ENOV	Enovis Corp	Pair Corr

Related Correlations Analysis

	EHC	PNTG	ACHC	SEM	ADUS	EHAB	ENSG	INNV	NHC	UHS
EHC		-0.35	-0.84	0.57	-0.5	-0.38	-0.05	-0.39	-0.02	-0.67	EHC
PNTG	-0.35		0.54	-0.28	0.82	0.35	0.24	0.5	0.11	0.68	PNTG
ACHC	-0.84	0.54		-0.34	0.69	0.67	0.24	0.62	0.29	0.86	ACHC
SEM	0.57	-0.28	-0.34		-0.32	0.38	-0.19	-0.23	0.61	-0.35	SEM
ADUS	-0.5	0.82	0.69	-0.32		0.47	0.24	0.75	0.2	0.8	ADUS
EHAB	-0.38	0.35	0.67	0.38	0.47		0.05	0.48	0.72	0.54	EHAB
ENSG	-0.05	0.24	0.24	-0.19	0.24	0.05		0.43	-0.15	0.2	ENSG
INNV	-0.39	0.5	0.62	-0.23	0.75	0.48	0.43		0.31	0.65	INNV
NHC	-0.02	0.11	0.29	0.61	0.2	0.72	-0.15	0.31		0.21	NHC
UHS	-0.67	0.68	0.86	-0.35	0.8	0.54	0.2	0.65	0.21		UHS
	EHC	PNTG	ACHC	SEM	ADUS	EHAB	ENSG	INNV	NHC	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	ACHC
ADUS	+ 0.82	PNTG
UHS	+ 0.8	ADUS
INNV	+ 0.75	ADUS
NHC	+ 0.72	EHAB
ADUS	+ 0.69	ACHC

High negative correlations

ACHC	- 0.84	EHC
UHS	- 0.67	EHC
ADUS	- 0.5	EHC
INNV	- 0.39	EHC
EHAB	- 0.38	EHC
UHS	- 0.35	SEM

Risk-Adjusted Indicators

There is a big difference between Chemed Stock performing well and Chemed Corp 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 Chemed Corp'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	0.90	0.14	0.06	0.48	0.84	(0.97)	1.76	(1.86)	9.75
PNTG	2.19	(0.27)	0.00	(0.04)	0.00	0.00	4.19	(3.97)	13.06
ACHC	2.23	(1.11)	0.00	(0.86)	0.00	0.00	3.36	(5.78)	22.87
SEM	1.48	0.05	0.06	0.15	1.56	(1.60)	3.02	(2.50)	14.58
ADUS	1.20	(0.23)	0.00	(0.08)	0.00	0.00	2.50	(2.48)	7.74
EHAB	1.92	(0.23)	0.00	(0.05)	0.00	0.00	5.22	(4.56)	11.79
ENSG	1.06	0.03	(0.07)	(0.01)	1.63	(1.04)	2.32	(2.11)	10.08
INNV	2.19	(0.53)	0.00	(0.16)	0.00	0.00	4.28	(4.81)	11.60
NHC	1.53	(0.24)	0.00	(0.01)	0.00	0.00	3.12	(3.57)	11.56
UHS	1.34	(0.26)	0.00	(0.53)	0.00	0.00	2.22	(4.07)	14.88

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