Encompass Health Correlations

Stocks . USA . 
Stock . Encompass Health Corp
EHC Stock  USD 92.65  0.59  0.64%   
The current 90-days correlation between Encompass Health Corp and Molina Healthcare is 0.45 (i.e., Very weak diversification). The correlation of Encompass Health 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.

Encompass Health Correlation With Market

Weak diversification

The correlation between Encompass Health Corp and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Encompass Health Corp and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Encompass Health Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Encompass Stock

  0.84ENSG Ensign GroupPairCorr
  0.71CAH Cardinal HealthPairCorr
  0.64DVA DaVita HealthCarePairCorr
  0.83HCA HCA HoldingsPairCorr
  0.78TFX Teleflex IncorporatedPairCorr
  0.83THC Tenet HealthcarePairCorr
  0.82UHS Universal Health ServicesPairCorr
  0.79VMD Viemed HealthcarePairCorr
  0.73HSIC Henry ScheinPairCorr
  0.7INNV InnovAge Holding CorpPairCorr
  0.67MLSS Milestone ScientificPairCorr
  0.71MMSI Merit Medical SystemsPairCorr

Moving against Encompass Stock

  0.77EDAP EDAP TMS SAPairCorr
  0.59DRIO DarioHealth CorpPairCorr
  0.59AGL agilon healthPairCorr
  0.53AWH Aspira Womens HealthPairCorr
  0.47XAIR Beyond AirPairCorr
  0.45MCK McKesson Sell-off TrendPairCorr
  0.36DH Definitive HealthcarePairCorr
  0.67MBOT Microbot MedicalPairCorr
  0.57HIMS Hims Hers HealthPairCorr
  0.53MASS 908 DevicesPairCorr
  0.49JYNT Joint CorpPairCorr
  0.44ZYXI Zynex IncPairCorr
  0.63STIM NeuroneticsPairCorr
  0.59ATEC Alphatec HoldingsPairCorr

Related Correlations Analysis

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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   
MOH
+ 0.76
UNH
UNH
+ 0.68
CI
ALHC
+ 0.67
CI
ALHC
+ 0.67
UNH
MOH
+ 0.62
CI
ALHC
+ 0.44
MOH
  
High negative correlations   
MOH
- 0.62
HUM
CI
- 0.46
HUM
ALHC
- 0.44
HUM
UNH
- 0.29
HUM

Risk-Adjusted Indicators

There is a big difference between Encompass Stock performing well and Encompass Health 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 Encompass Health'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.

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