Pennant Correlations

PNTG Stock

USD 27.46 0.24 0.88%

The current 90-days correlation between Pennant Group and Addus HomeCare is 0.49 (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

Significant diversification

The correlation between Pennant Group and DJI is 0.03 (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.

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

0.85	CI	Cigna Corp	Pair Corr
0.76	EDAP	EDAP TMS SA	Pair Corr
0.75	EKSO	Ekso Bionics Holdings	Pair Corr
0.7	ELAB	Elevai Labs, Common	Pair Corr
0.92	ENSG	Ensign Group	Pair Corr
0.66	ABT	Abbott Laboratories Earnings Call This Week	Pair Corr
0.85	ALC	Alcon AG	Pair Corr
0.73	AMN	AMN Healthcare Services	Pair Corr
0.69	AWH	Aspira Womens Health	Pair Corr
0.92	BAX	Baxter International	Pair Corr

Moving against Pennant Stock

0.88	ECOR	Electrocore LLC	Pair Corr
0.87	VVOS	Vivos Therapeutics	Pair Corr
0.81	EMBC	Embecta Corp	Pair Corr
0.79	DXCM	DexCom Inc	Pair Corr
0.76	ELMD	Electromed	Pair Corr
0.74	EW	Edwards Lifesciences Corp Sell-off Trend	Pair Corr
0.73	OM	Outset Medical	Pair Corr
0.72	GH	Guardant Health	Pair Corr
0.64	DOCS	Doximity	Pair Corr
0.45	EHAB	Enhabit	Pair Corr
0.44	WORX	Scworx Corp	Pair Corr
0.36	VREX	Varex Imaging Corp	Pair Corr
0.7	AHG	Akso Health Group	Pair Corr
0.68	BSX	Boston Scientific Corp	Pair Corr
0.51	CAH	Cardinal Health	Pair Corr

Related Correlations Analysis

	EHC	ACHC	SEM	ADUS	SGRY	ENSG	HCSG	EHAB	INNV	NHC
EHC		-0.21	0.71	-0.44	0.24	0.63	0.47	0.18	0.51	0.84	EHC
ACHC	-0.21		-0.63	0.53	0.72	0.41	-0.65	-0.5	0.53	-0.01	ACHC
SEM	0.71	-0.63		-0.51	-0.26	0.03	0.71	0.49	-0.04	0.51	SEM
ADUS	-0.44	0.53	-0.51		0.41	-0.01	-0.55	-0.21	0.15	-0.25	ADUS
SGRY	0.24	0.72	-0.26	0.41		0.79	-0.59	-0.57	0.93	0.48	SGRY
ENSG	0.63	0.41	0.03	-0.01	0.79		-0.25	-0.43	0.9	0.73	ENSG
HCSG	0.47	-0.65	0.71	-0.55	-0.59	-0.25		0.82	-0.38	0.18	HCSG
EHAB	0.18	-0.5	0.49	-0.21	-0.57	-0.43	0.82		-0.45	0.0	EHAB
INNV	0.51	0.53	-0.04	0.15	0.93	0.9	-0.38	-0.45		0.7	INNV
NHC	0.84	-0.01	0.51	-0.25	0.48	0.73	0.18	0.0	0.7		NHC
	EHC	ACHC	SEM	ADUS	SGRY	ENSG	HCSG	EHAB	INNV	NHC

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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

INNV	+ 0.93	SGRY
INNV	+ 0.9	ENSG
NHC	+ 0.84	EHC
EHAB	+ 0.82	HCSG
ENSG	+ 0.79	SGRY
NHC	+ 0.73	ENSG

High negative correlations

HCSG	- 0.65	ACHC
SEM	- 0.63	ACHC
HCSG	- 0.59	SGRY
EHAB	- 0.57	SGRY
HCSG	- 0.55	ADUS
ADUS	- 0.51	SEM

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
EHC	0.86	(0.02)	0.00	(0.07)	0.00	0.00	1.66	(1.93)	10.30
ACHC	2.05	(0.35)	0.00	(3.11)	0.00	0.00	4.60	(3.21)	21.88
SEM	1.75	0.11	0.06	0.23	1.94	(1.98)	3.02	(3.08)	16.75
ADUS	1.26	0.03	0.02	(0.39)	1.46	(1.34)	2.46	(2.51)	8.16
SGRY	2.56	(0.58)	0.00	(0.85)	0.00	0.00	4.21	(5.92)	17.97
ENSG	1.02	(0.11)	0.00	(0.40)	0.00	0.00	2.32	(1.84)	10.08
HCSG	1.46	0.25	0.12	0.35	1.75	(1.52)	2.82	(2.72)	8.91
EHAB	1.71	0.18	0.08	0.47	1.76	(2.12)	4.08	(3.25)	17.54
INNV	2.45	(0.67)	0.00	(0.78)	0.00	0.00	3.17	(5.51)	22.97
NHC	1.40	(0.28)	0.00	(0.51)	0.00	0.00	3.12	(3.24)	13.46

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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