Pennant Correlations

PNTG Stock

USD 31.54 0.43 1.35%

The current 90-days correlation between Pennant Group and AMN Healthcare Services is 0.08 (i.e., Significant 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

Poor diversification

The correlation between Pennant Group and DJI is 0.67 (i.e., Poor 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

0.63	CI	Cigna Corp	Pair Corr
0.81	X34	ENHABIT INC DL	Pair Corr
0.63	UOM	AS Latvijas Juras	Pair Corr
0.8	EHAB	Enhabit	Pair Corr
0.75	CLARI	Clariane SE	Pair Corr
0.67	636	Sienna Senior Living Earnings Call This Week	Pair Corr

Moving against Pennant Stock

0.48	S00	Spire Healthcare	Pair Corr
0.4	MD	Mednax Inc Earnings Call This Week	Pair Corr
0.73	PXS	Paragon Care Limited	Pair Corr
0.57	FLGT	Fulgent Genetics	Pair Corr
0.53	WGRX	Wellgistics Health Common	Pair Corr
0.43	KDA	KDA Group	Pair Corr
0.63	HQY	HealthEquity	Pair Corr
0.34	COR	Cencora	Pair Corr
0.32	EHC	Encompass Health Corp	Pair Corr

Related Correlations Analysis

	AMN	CRMD	IART	SNDA	BCAX	EYPT	PROK	INNV	HSTM	KURA
AMN		-0.68	-0.6	0.14	-0.18	-0.38	-0.52	0.46	-0.63	-0.7	AMN
CRMD	-0.68		0.48	-0.23	0.22	0.42	0.54	-0.49	0.7	0.69	CRMD
IART	-0.6	0.48		-0.43	0.67	0.56	0.48	-0.54	0.59	0.62	IART
SNDA	0.14	-0.23	-0.43		-0.51	-0.28	-0.31	0.68	-0.41	-0.37	SNDA
BCAX	-0.18	0.22	0.67	-0.51		0.6	0.1	-0.48	0.41	0.45	BCAX
EYPT	-0.38	0.42	0.56	-0.28	0.6		0.24	-0.32	0.14	0.25	EYPT
PROK	-0.52	0.54	0.48	-0.31	0.1	0.24		-0.55	0.59	0.58	PROK
INNV	0.46	-0.49	-0.54	0.68	-0.48	-0.32	-0.55		-0.76	-0.7	INNV
HSTM	-0.63	0.7	0.59	-0.41	0.41	0.14	0.59	-0.76		0.93	HSTM
KURA	-0.7	0.69	0.62	-0.37	0.45	0.25	0.58	-0.7	0.93		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

KURA	+ 0.93	HSTM
HSTM	+ 0.7	CRMD
KURA	+ 0.69	CRMD
INNV	+ 0.68	SNDA
BCAX	+ 0.67	IART
KURA	+ 0.62	IART

High negative correlations

HSTM	- 0.76	INNV
KURA	- 0.7	INNV
KURA	- 0.7	AMN
CRMD	- 0.68	AMN
HSTM	- 0.63	AMN
IART	- 0.6	AMN

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	2.59	(0.06)	0.00	(0.01)	0.00	0.00	4.49	(4.03)	44.40
CRMD	3.06	(0.54)	0.00	(0.44)	0.00	0.00	5.52	(6.81)	39.40
IART	2.14	(0.20)	0.00	(0.04)	0.00	0.00	4.72	(3.49)	15.12
SNDA	1.13	0.05	0.03	0.13	1.11	(1.30)	3.04	(2.09)	8.43
BCAX	2.87	0.04	0.01	0.12	3.10	(3.47)	6.05	(5.00)	19.25
EYPT	3.23	0.28	0.06	(3.78)	3.38	(3.72)	6.24	(4.98)	23.49
PROK	3.73	(0.48)	0.00	(0.17)	0.00	0.00	6.82	(8.95)	22.38
INNV	4.12	0.82	0.20	0.47	3.72	(4.85)	7.78	(6.77)	41.58
HSTM	1.09	(0.31)	0.00	(0.60)	0.00	0.00	1.99	(2.29)	8.53
KURA	2.86	(0.33)	0.00	(0.27)	0.00	0.00	5.01	(5.77)	22.83

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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