Community Health Correlations

CYH Stock

USD 3.06 0.05 1.66%

The current 90-days correlation between Community Health Systems and Universal Health Services is 0.46 (i.e., Very weak diversification). The correlation of Community Health 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.

Community Health Correlation With Market

Significant diversification

The correlation between Community Health Systems and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Community Health Systems 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 Community Health Systems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Community Stock

0.69	CI	Cigna Corp	Pair Corr
0.68	VERO	Venus Concept	Pair Corr
0.66	EDAP	EDAP TMS SA	Pair Corr
0.85	EKSO	Ekso Bionics Holdings	Pair Corr
0.82	ELAB	Elevai Labs, Common	Pair Corr
0.7	ENSG	Ensign Group	Pair Corr
0.61	AGL	agilon health Trending	Pair Corr
0.87	ALC	Alcon AG	Pair Corr
0.81	AMN	AMN Healthcare Services	Pair Corr
0.64	AWH	Aspira Womens Health	Pair Corr
0.86	BAX	Baxter International	Pair Corr

Moving against Community Stock

0.83	GH	Guardant Health	Pair Corr
0.81	ELMD	Electromed	Pair Corr
0.8	ECOR	Electrocore LLC	Pair Corr
0.8	VVOS	Vivos Therapeutics	Pair Corr
0.8	EMBC	Embecta Corp	Pair Corr
0.77	DXCM	DexCom Inc	Pair Corr
0.72	OM	Outset Medical	Pair Corr
0.7	DOCS	Doximity	Pair Corr
0.62	VREX	Varex Imaging Corp	Pair Corr
0.6	EW	Edwards Lifesciences Corp Sell-off Trend	Pair Corr
0.57	LH	Laboratory	Pair Corr
0.56	ENOV	Enovis Corp	Pair Corr
0.52	EHAB	Enhabit	Pair Corr
0.51	WORX	Scworx Corp	Pair Corr
0.62	CAH	Cardinal Health	Pair Corr
0.6	BSX	Boston Scientific Corp	Pair Corr
0.47	AHG	Akso Health Group	Pair Corr

Related Correlations Analysis

	UHS	HCA	SGRY	ACHC	THC	USPH	DVA	EHC	PNTG
UHS		0.97	0.9	0.72	0.83	-0.43	0.36	0.32	0.89	UHS
HCA	0.97		0.94	0.77	0.82	-0.59	0.24	0.2	0.88	HCA
SGRY	0.9	0.94		0.72	0.84	-0.57	0.06	0.24	0.88	SGRY
ACHC	0.72	0.77	0.72		0.39	-0.68	0.24	-0.21	0.56	ACHC
THC	0.83	0.82	0.84	0.39		-0.28	0.09	0.6	0.9	THC
USPH	-0.43	-0.59	-0.57	-0.68	-0.28		0.23	0.49	-0.3	USPH
DVA	0.36	0.24	0.06	0.24	0.09	0.23		0.17	0.25	DVA
EHC	0.32	0.2	0.24	-0.21	0.6	0.49	0.17		0.54	EHC
PNTG	0.89	0.88	0.88	0.56	0.9	-0.3	0.25	0.54		PNTG
	UHS	HCA	SGRY	ACHC	THC	USPH	DVA	EHC	PNTG

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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

HCA	+ 0.97	UHS
SGRY	+ 0.94	HCA
SGRY	+ 0.9	UHS
PNTG	+ 0.9	THC
PNTG	+ 0.89	UHS
PNTG	+ 0.88	HCA

High negative correlations

USPH	- 0.68	ACHC
USPH	- 0.59	HCA
USPH	- 0.57	SGRY
USPH	- 0.43	UHS
PNTG	- 0.3	USPH
USPH	- 0.28	THC

Risk-Adjusted Indicators

There is a big difference between Community Stock performing well and Community Health 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 Community Health'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
UHS	1.41	(0.22)	0.00	(0.71)	0.00	0.00	2.73	(3.89)	14.88
HCA	1.13	(0.36)	0.00	(2.10)	0.00	0.00	2.05	(2.71)	11.09
SGRY	2.56	(0.58)	0.00	(0.85)	0.00	0.00	4.21	(5.92)	17.97
ACHC	2.05	(0.35)	0.00	(3.11)	0.00	0.00	4.60	(3.21)	21.88
THC	1.93	(0.21)	0.00	(0.66)	0.00	0.00	3.19	(3.90)	21.18
USPH	1.40	0.18	0.13	0.65	1.28	(1.79)	2.61	(2.31)	20.34
DVA	1.38	0.05	0.02	0.06	2.36	(1.36)	2.92	(2.72)	12.49
EHC	0.86	(0.02)	0.00	(0.07)	0.00	0.00	1.66	(1.93)	10.30
PNTG	1.78	(0.31)	0.00	(3.96)	0.00	0.00	3.76	(3.74)	8.70

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