DaVita Correlations

TRL Stock

EUR 169.35 3.05 1.83%

The current 90-days correlation between DaVita Inc and MOLSON RS BEVERAGE is 0.02 (i.e., Significant diversification). The correlation of DaVita 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.

DaVita Correlation With Market

Modest diversification

The correlation between DaVita Inc and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DaVita Inc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to DaVita could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DaVita when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back DaVita - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling DaVita Inc to buy it.

Moving together with DaVita Stock

0.62	FME	Fresenius Medical Care	Pair Corr
0.81	CXM	Chemed	Pair Corr
0.74	ESLC	ESSILORLUXOTTICA 12ON	Pair Corr
0.63	6EQ	EQT AB	Pair Corr
0.62	ZYA	State Street	Pair Corr
0.66	E908	Lyxor 1	Pair Corr

Moving against DaVita Stock

0.59	DBPD	Xtrackers ShortDAX	Pair Corr
0.48	9MDA	MEITUAN UNSPADR2B	Pair Corr
0.46	PP1	Papa Johns International	Pair Corr

Related Correlations Analysis

	NY70	GRG	CM2	TCW	UFH	5RU	CM2	3TY
NY70		0.55	-0.27	-0.23	0.01	0.0	-0.33	0.22	NY70
GRG	0.55		-0.47	-0.5	-0.13	0.0	-0.54	0.27	GRG
CM2	-0.27	-0.47		0.82	0.64	0.0	0.99	0.3	CM2
TCW	-0.23	-0.5	0.82		0.8	0.0	0.84	0.33	TCW
UFH	0.01	-0.13	0.64	0.8		0.0	0.65	0.46	UFH
5RU	0.0	0.0	0.0	0.0	0.0		0.0	0.0	5RU
CM2	-0.33	-0.54	0.99	0.84	0.65	0.0		0.25	CM2
3TY	0.22	0.27	0.3	0.33	0.46	0.0	0.25		3TY
	NY70	GRG	CM2	TCW	UFH	5RU	CM2	3TY

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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

CM2	+ 0.99	CM2
CM2	+ 0.84	TCW
TCW	+ 0.82	CM2
UFH	+ 0.8	TCW
CM2	+ 0.65	UFH
UFH	+ 0.64	CM2

High negative correlations

CM2	- 0.54	GRG
TCW	- 0.5	GRG
CM2	- 0.47	GRG
CM2	- 0.33	NY70
CM2	- 0.27	NY70
TCW	- 0.23	NY70

Risk-Adjusted Indicators

There is a big difference between DaVita Stock performing well and DaVita 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 DaVita'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
NY70	0.95	0.09	0.01	10.48	1.17	(2.06)	3.60	(2.89)	8.84
GRG	1.46	0.21	0.07	(6.91)	1.56	(1.88)	2.83	(2.74)	16.63
CM2	1.80	0.58	0.25	(1.13)	1.55	(2.17)	3.76	(2.44)	10.85
TCW	0.73	0.18	0.10	19.33	0.51	(1.23)	1.88	(1.39)	3.87
UFH	1.03	0.29	0.16	1.05	0.83	(1.46)	2.33	(1.57)	9.03
5RU	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CM2	1.66	0.61	0.26	(2.73)	1.61	(1.91)	3.49	(3.19)	9.52
3TY	2.55	0.40	0.13	1.77	2.07	(4.09)	6.29	(3.76)	18.48

Be your own money manager

Our tools can tell you how much better you can do entering a position in DaVita without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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DaVita Corporate Management

Elected by the shareholders, the DaVita's board of directors comprises two types of representatives: DaVita inside directors who are chosen from within the company, and outside directors, selected externally and held independent of DaVita. The board's role is to monitor DaVita's management team and ensure that shareholders' interests are well served. DaVita's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, DaVita's outside directors are responsible for providing unbiased perspectives on the board's policies.

James Hearty	Chief Officer	Profile
FRCPC MD	Chief Operations	Profile
Joel Ackerman	CFO Treasurer	Profile
Atul Mathur	Ex Operations	Profile
Javier Rodriguez	CEO Director	Profile
Jim Gustafson	VP Relations	Profile
John Winstel	Chief Officer	Profile

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