Pennant Correlations

PNTG Stock

USD 27.83 0.32 1.14%

The current 90-days correlation between Pennant Group and AMN Healthcare Services is 0.38 (i.e., Weak diversification). The correlation of Pennant 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.

Pennant Correlation With Market

Significant diversification

The correlation between Pennant Group and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pennant Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Pennant Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Pennant Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Pennant Stock

0.67	GH	Guardant Health	Pair Corr
0.84	NPTH	NeuPath Health	Pair Corr
0.76	CNC	Centene Corp Aggressive Push	Pair Corr
0.81	HSIC	Henry Schein	Pair Corr
0.86	RHC	Ramsay Health Care	Pair Corr
0.75	DNTL	dentalcorp Holdings	Pair Corr
0.86	DR	Medical Facilities	Pair Corr
0.82	SHL	Sonic Healthcare	Pair Corr
0.79	PRPO	Precipio	Pair Corr
0.79	SIA	Sienna Senior Living	Pair Corr
0.76	OCA	Oceania Healthcare	Pair Corr

Moving against Pennant Stock

0.93	300015	Aier Eye Hospital	Pair Corr
0.89	IVP	Inspire Veterinary	Pair Corr
0.68	DVA	DaVita HealthCare	Pair Corr
0.67	FMS	Fresenius Medical Care	Pair Corr
0.58	301293	Sanbo Hospital Management	Pair Corr
0.52	LH	Laboratory	Pair Corr
0.45	UNH	UnitedHealth Group CDR	Pair Corr
0.4	PHA	Premier Health	Pair Corr
0.37	ENSG	Ensign Group	Pair Corr
0.36	DGX	Quest Diagnostics	Pair Corr
0.88	SPI	Spire Healthcare	Pair Corr
0.77	301267	Huaxia Eye Hospital	Pair Corr
0.75	000503	China Reform Health	Pair Corr
0.7	WELL	WELL Health Technologies	Pair Corr
0.67	HIMS	Hims Hers Health	Pair Corr
0.62	OPT	Optima Health plc	Pair Corr
0.61	INFU	InfuSystems Holdings	Pair Corr
0.5	002173	Innovative Medical	Pair Corr

Related Correlations Analysis

	AMN	CRMD	IART	SNDA	BCAX	EYPT	PROK	INNV	HSTM	KURA
AMN		-0.05	0.56	-0.87	-0.1	-0.72	0.87	-0.3	0.78	-0.53	AMN
CRMD	-0.05		0.01	-0.03	-0.19	0.34	0.08	0.12	-0.25	-0.5	CRMD
IART	0.56	0.01		-0.61	0.43	-0.21	0.57	0.18	0.64	-0.35	IART
SNDA	-0.87	-0.03	-0.61		-0.07	0.55	-0.85	0.24	-0.71	0.57	SNDA
BCAX	-0.1	-0.19	0.43	-0.07		0.46	-0.12	0.36	0.09	0.24	BCAX
EYPT	-0.72	0.34	-0.21	0.55	0.46		-0.63	0.36	-0.63	0.33	EYPT
PROK	0.87	0.08	0.57	-0.85	-0.12	-0.63		-0.07	0.67	-0.55	PROK
INNV	-0.3	0.12	0.18	0.24	0.36	0.36	-0.07		-0.15	-0.06	INNV
HSTM	0.78	-0.25	0.64	-0.71	0.09	-0.63	0.67	-0.15		-0.4	HSTM
KURA	-0.53	-0.5	-0.35	0.57	0.24	0.33	-0.55	-0.06	-0.4		KURA
	AMN	CRMD	IART	SNDA	BCAX	EYPT	PROK	INNV	HSTM	KURA

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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

PROK	+ 0.87	AMN
HSTM	+ 0.78	AMN
HSTM	+ 0.67	PROK
HSTM	+ 0.64	IART
PROK	+ 0.57	IART
KURA	+ 0.57	SNDA

High negative correlations

SNDA	- 0.87	AMN
PROK	- 0.85	SNDA
EYPT	- 0.72	AMN
HSTM	- 0.71	SNDA
HSTM	- 0.63	EYPT
PROK	- 0.63	EYPT

Risk-Adjusted Indicators

There is a big difference between Pennant Stock performing well and Pennant 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 Pennant'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
AMN	2.21	(0.32)	0.00	1.54	0.00	0.00	5.56	(4.02)	18.59
CRMD	2.61	0.09	0.02	0.26	3.36	(2.74)	4.56	(4.99)	30.66
IART	2.61	(0.34)	0.00	(0.06)	0.00	0.00	5.94	(4.48)	29.40
SNDA	1.39	0.21	0.11	0.58	1.14	(1.56)	3.04	(2.44)	17.12
BCAX	3.16	(0.01)	(0.01)	0.05	3.69	(3.63)	5.89	(6.63)	19.57
EYPT	3.13	0.51	0.11	1.50	3.52	(3.30)	7.21	(4.48)	19.48
PROK	3.91	(0.33)	0.00	(0.08)	0.00	0.00	6.92	(8.95)	25.70
INNV	4.42	0.20	0.03	0.32	5.82	(4.43)	8.61	(9.70)	32.32
HSTM	1.16	(0.34)	0.00	(1.43)	0.00	0.00	2.61	(2.66)	6.59
KURA	3.24	0.03	0.02	0.09	3.36	(3.83)	6.96	(4.87)	22.15

Pennant Corporate Management

Derek Bunker	Exec Officer	Profile
Jason Steik	Chief Officer	Profile
Brent Guerisoli	Chief Officer	Profile
Jennifer CPA	Chief Officer	Profile
Lynette CPA	Chief Officer	Profile

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