Chemed Corp Correlations

CHE Stock

USD 473.22 9.27 2.00%

The current 90-days correlation between Chemed Corp and Option Care Health is 0.45 (i.e., Very weak 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

Very weak diversification

The correlation between Chemed Corp and DJI is 0.51 (i.e., Very 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.

Build AI portfolio with Chemed Stock

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 together with Chemed Stock

0.62	CI	Cigna Corp	Pair Corr
0.61	GD6	Ramsay Gnrale de	Pair Corr
0.67	ENSG	Ensign Group	Pair Corr
0.64	AMS	American Shared Hospital	Pair Corr
0.62	CAH	Cardinal Health	Pair Corr
0.66	CON	Concentra Group Holdings	Pair Corr

Moving against Chemed Stock

0.44	CV	CapsoVision Common Stock	Pair Corr
0.56	WGRX	Wellgistics Health Common	Pair Corr
0.53	KDA	KDA Group	Pair Corr
0.31	FLGT	Fulgent Genetics	Pair Corr
0.52	HQY	HealthEquity	Pair Corr

Related Correlations Analysis

	OPCH	STVN	DVA	MTSR	BTSG	ATR	TFX	HSIC	BRKR	NUVL
OPCH		-0.66	-0.07	0.67	0.85	0.51	-0.23	0.74	0.21	0.18	OPCH
STVN	-0.66		-0.38	-0.86	-0.62	-0.68	0.47	-0.46	0.35	0.01	STVN
DVA	-0.07	-0.38		0.4	-0.06	0.59	-0.09	0.14	-0.7	-0.19	DVA
MTSR	0.67	-0.86	0.4		0.77	0.74	-0.34	0.65	-0.14	-0.1	MTSR
BTSG	0.85	-0.62	-0.06	0.77		0.54	-0.15	0.79	0.35	0.06	BTSG
ATR	0.51	-0.68	0.59	0.74	0.54		-0.4	0.62	-0.32	-0.01	ATR
TFX	-0.23	0.47	-0.09	-0.34	-0.15	-0.4		0.02	0.25	-0.03	TFX
HSIC	0.74	-0.46	0.14	0.65	0.79	0.62	0.02		0.23	-0.04	HSIC
BRKR	0.21	0.35	-0.7	-0.14	0.35	-0.32	0.25	0.23		0.34	BRKR
NUVL	0.18	0.01	-0.19	-0.1	0.06	-0.01	-0.03	-0.04	0.34		NUVL
	OPCH	STVN	DVA	MTSR	BTSG	ATR	TFX	HSIC	BRKR	NUVL

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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

BTSG	+ 0.85	OPCH
HSIC	+ 0.79	BTSG
BTSG	+ 0.77	MTSR
HSIC	+ 0.74	OPCH
ATR	+ 0.74	MTSR
MTSR	+ 0.67	OPCH

High negative correlations

MTSR	- 0.86	STVN
BRKR	- 0.7	DVA
ATR	- 0.68	STVN
STVN	- 0.66	OPCH
BTSG	- 0.62	STVN
HSIC	- 0.46	STVN

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
OPCH	1.48	0.33	0.23	0.89	0.99	(1.92)	4.59	(1.84)	10.83
STVN	2.45	(0.73)	0.00	(0.25)	0.00	0.00	4.69	(5.60)	15.63
DVA	1.83	0.36	0.17	3.22	1.54	(2.50)	4.25	(3.23)	26.79
MTSR	4.01	1.66	0.46	(1.26)	2.40	(5.30)	14.25	(4.09)	75.60
BTSG	1.82	0.16	0.07	0.17	2.20	(1.86)	3.44	(4.02)	11.25
ATR	1.12	0.27	0.19	0.36	1.11	(1.38)	2.93	(1.51)	8.45
TFX	1.74	(0.08)	0.00	(0.03)	0.00	0.00	3.55	(2.93)	22.60
HSIC	1.20	0.05	0.03	0.12	1.45	(1.28)	2.43	(2.60)	7.52
BRKR	2.18	(0.24)	0.00	(0.08)	0.00	0.00	4.23	(4.13)	19.43
NUVL	2.12	0.15	0.04	0.83	2.40	(2.23)	3.45	(3.90)	17.72

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