HCA Holdings Correlations

HCA Etf

USD 359.90 11.28 3.04%

The current 90-days correlation between HCA Holdings and Acadia Healthcare is 0.55 (i.e., Very weak diversification). The correlation of HCA Holdings 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.

HCA Holdings Correlation With Market

Very weak diversification

The correlation between HCA Holdings and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HCA Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with HCA Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in HCA Holdings. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For information on how to trade HCA Etf refer to our How to Trade HCA Etf guide.

Moving together with HCA Etf

0.79	DH	Definitive Healthcare	Pair Corr
0.86	EW	Edwards Lifesciences Corp	Pair Corr
0.75	LH	Laboratory	Pair Corr
0.93	OM	Outset Medical	Pair Corr
0.67	VEEV	Veeva Systems Class	Pair Corr
0.86	DXCM	DexCom Inc	Pair Corr
0.84	EHAB	Enhabit	Pair Corr
0.95	ENSG	Ensign Group	Pair Corr
0.83	FLGT	Fulgent Genetics	Pair Corr
0.74	ABT	Abbott Laboratories	Pair Corr
0.68	AHG	Akso Health Group	Pair Corr

Moving against HCA Etf

0.7	ECOR	Electrocore LLC Downward Rally	Pair Corr
0.52	VTAK	Catheter Precision	Pair Corr
0.47	VREX	Varex Imaging Corp	Pair Corr
0.4	VSEE	VSee Health, Symbol Change	Pair Corr
0.39	CI	Cigna Corp	Pair Corr
0.34	DOCS	Doximity	Pair Corr
0.32	VERO	Venus Concept	Pair Corr
0.81	ELMD	Electromed	Pair Corr
0.74	FEMY	Femasys	Pair Corr
0.71	WORX	Scworx Corp	Pair Corr
0.69	EKSO	Ekso Bionics Holdings	Pair Corr
0.67	WGRX	Wellgistics Health,	Pair Corr
0.6	EMBC	Embecta Corp	Pair Corr
0.59	ELAB	Elevai Labs, Common	Pair Corr
0.44	VVOS	Vivos Therapeutics	Pair Corr
0.39	EUDA	EUDA Health Holdings Upward Rally	Pair Corr
0.37	ENOV	Enovis Corp	Pair Corr
0.84	AGL	agilon health	Pair Corr
0.76	XAIR	Beyond Air	Pair Corr
0.76	BDX	Becton Dickinson	Pair Corr
0.74	BVS	Bioventus	Pair Corr
0.72	AMS	American Shared Hospital	Pair Corr
0.49	CHE	Chemed Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.88	0.72	0.78	0.39	0.64	0.61	0.84	-0.14	0.05	META
MSFT	0.88		0.91	0.84	0.54	0.28	0.46	0.93	-0.5	-0.28	MSFT
UBER	0.72	0.91		0.9	0.51	0.16	0.57	0.93	-0.55	-0.24	UBER
F	0.78	0.84	0.9		0.52	0.46	0.69	0.9	-0.28	0.11	F
T	0.39	0.54	0.51	0.52		0.08	0.07	0.62	-0.33	0.06	T
A	0.64	0.28	0.16	0.46	0.08		0.64	0.34	0.6	0.68	A
CRM	0.61	0.46	0.57	0.69	0.07	0.64		0.54	0.2	0.36	CRM
JPM	0.84	0.93	0.93	0.9	0.62	0.34	0.54		-0.46	-0.07	JPM
MRK	-0.14	-0.5	-0.55	-0.28	-0.33	0.6	0.2	-0.46		0.72	MRK
XOM	0.05	-0.28	-0.24	0.11	0.06	0.68	0.36	-0.07	0.72		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.93	MSFT
JPM	+ 0.93	UBER
UBER	+ 0.91	MSFT
F	+ 0.9	UBER
JPM	+ 0.9	F
MSFT	+ 0.88	META

High negative correlations

MRK	- 0.55	UBER
MRK	- 0.5	MSFT
MRK	- 0.46	JPM
MRK	- 0.33	T
MRK	- 0.28	F
XOM	- 0.28	MSFT

HCA Holdings Competition Risk-Adjusted Indicators

There is a big difference between HCA Etf performing well and HCA Holdings ETF 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 HCA Holdings' 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
META	2.16	0.14	0.05	0.12	2.73	(2.36)	4.23	(4.67)	21.50
MSFT	1.27	0.30	0.19	0.34	1.18	(1.38)	2.58	(2.36)	13.79
UBER	1.95	0.23	0.10	0.21	2.33	(2.12)	4.19	(3.48)	16.18
F	1.70	0.13	0.06	0.18	2.25	(1.78)	2.90	(3.84)	13.07
T	1.17	0.15	0.07	0.53	1.76	(1.21)	2.01	(2.62)	8.83
A	1.81	(0.05)	0.00	(0.01)	0.00	0.00	3.24	(4.15)	14.45
CRM	1.66	(0.17)	0.00	(0.10)	0.00	0.00	3.02	(4.45)	13.13
JPM	1.34	0.21	0.09	0.22	1.96	(1.39)	2.88	(2.12)	11.14
MRK	1.58	(0.20)	0.00	(0.26)	0.00	0.00	2.55	(4.72)	10.60
XOM	1.32	0.04	0.01	0.08	2.15	(1.28)	2.80	(2.77)	10.53

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