Pennant Correlations

PNTG Stock

USD 30.50 0.28 0.91%

The current 90-days correlation between Pennant Group and Healthcare Services Group is 0.45 (i.e., Very 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

Very weak diversification

The correlation between Pennant Group and DJI is 0.46 (i.e., Very weak 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.

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 estimate.

Moving together with Pennant Stock

0.63	EKSO	Ekso Bionics Holdings	Pair Corr
0.65	WORX	Scworx Corp Buyout Trend	Pair Corr

Moving against Pennant Stock

0.48	VREX	Varex Imaging Corp	Pair Corr
0.43	MD	Mednax Inc	Pair Corr
0.4	ECOR	Electrocore LLC	Pair Corr
0.35	LH	Laboratory	Pair Corr
0.51	XAIR	Beyond Air	Pair Corr

Related Correlations Analysis

	ENSG	UHS	EHC	SGRY	MODV	HCSG
ENSG		0.15	0.05	0.29	-0.04	0.21	ENSG
UHS	0.15		-0.64	0.73	0.25	-0.25	UHS
EHC	0.05	-0.64		-0.35	-0.45	0.54	EHC
SGRY	0.29	0.73	-0.35		0.02	-0.26	SGRY
MODV	-0.04	0.25	-0.45	0.02		-0.2	MODV
HCSG	0.21	-0.25	0.54	-0.26	-0.2		HCSG
	ENSG	UHS	EHC	SGRY	MODV	HCSG

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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

SGRY	+ 0.73	UHS
HCSG	+ 0.54	EHC
SGRY	+ 0.29	ENSG
MODV	+ 0.25	UHS
HCSG	+ 0.21	ENSG
UHS	+ 0.15	ENSG

High negative correlations

EHC	- 0.64	UHS
MODV	- 0.45	EHC
SGRY	- 0.35	EHC
HCSG	- 0.26	SGRY
HCSG	- 0.25	UHS
HCSG	- 0.2	MODV

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
ENSG	1.05	0.04	(0.04)	(0.04)	1.65	(1.01)	2.32	(2.11)	10.08
UHS	1.35	(0.23)	0.00	(0.52)	0.00	0.00	2.22	(4.07)	14.88
EHC	0.88	0.14	0.08	0.50	0.86	(0.95)	1.76	(1.86)	9.75
SGRY	2.28	(0.40)	0.00	(0.17)	0.00	0.00	3.72	(4.88)	31.36
MODV	4.54	(0.11)	0.00	(0.65)	0.00	0.00	7.43	(8.25)	65.08
HCSG	1.64	0.01	0.02	0.10	2.29	(1.64)	3.41	(3.52)	11.71

Pennant Corporate Management

Derek Bunker	Exec Officer	Profile
Jason Steik	Chief Officer	Profile
Kirk Cheney	General Secretary	Profile
Brent Guerisoli	Chief Officer	Profile
Jennifer CPA	Chief Officer	Profile
Lynette CPA	Chief Officer	Profile

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