Pennant Correlations

PNTG Stock

USD 25.57 0.01 0.04%

The current 90-days correlation between Pennant Group and Acadia Healthcare is 0.6 (i.e., Poor 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

Weak diversification

The correlation between Pennant Group and DJI is 0.36 (i.e., Weak 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 estimate.

Moving together with Pennant Stock

0.68	DH	Definitive Healthcare	Pair Corr
0.7	TFX	Teleflex Incorporated Earnings Call Shortly	Pair Corr
0.68	GMED	Globus Medical	Pair Corr
0.72	ITGR	Integer Holdings Corp	Pair Corr
0.61	MBOT	Microbot Medical Buyout Trend	Pair Corr
0.78	RDNT	RadNet Inc	Pair Corr

Moving against Pennant Stock

0.6	CVS	CVS Health Corp Earnings Call Shortly	Pair Corr
0.56	ESTA	Establishment Labs	Pair Corr
0.53	FNA	Paragon 28	Pair Corr
0.5	FEMY	Femasys	Pair Corr
0.48	CI	Cigna Corp Earnings Call Shortly	Pair Corr
0.41	SSY	SunLink Health Systems	Pair Corr
0.51	MNDR	Mobile health Network	Pair Corr
0.49	LUNG	Pulmonx Corp Earnings Call Shortly	Pair Corr

Related Correlations Analysis

	EHC	ACHC	SEM	ADUS	SGRY	ENSG	HCSG	EHAB	INNV	NHC
EHC		-0.28	-0.14	-0.16	-0.05	-0.09	0.09	-0.14	-0.41	0.0	EHC
ACHC	-0.28		0.92	0.81	0.59	0.7	0.26	0.25	0.76	0.74	ACHC
SEM	-0.14	0.92		0.81	0.57	0.77	0.41	0.22	0.83	0.76	SEM
ADUS	-0.16	0.81	0.81		0.19	0.69	0.33	-0.1	0.62	0.78	ADUS
SGRY	-0.05	0.59	0.57	0.19		0.33	0.18	0.64	0.52	0.52	SGRY
ENSG	-0.09	0.7	0.77	0.69	0.33		0.24	0.27	0.64	0.51	ENSG
HCSG	0.09	0.26	0.41	0.33	0.18	0.24		0.09	0.51	0.41	HCSG
EHAB	-0.14	0.25	0.22	-0.1	0.64	0.27	0.09		0.4	0.14	EHAB
INNV	-0.41	0.76	0.83	0.62	0.52	0.64	0.51	0.4		0.59	INNV
NHC	0.0	0.74	0.76	0.78	0.52	0.51	0.41	0.14	0.59		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

SEM	+ 0.92	ACHC
INNV	+ 0.83	SEM
ADUS	+ 0.81	ACHC
ADUS	+ 0.81	SEM
NHC	+ 0.78	ADUS
ENSG	+ 0.77	SEM

High negative correlations

INNV	- 0.41	EHC
ACHC	- 0.28	EHC
ADUS	- 0.16	EHC
EHAB	- 0.14	EHC
SEM	- 0.14	EHC
EHAB	- 0.1	ADUS

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	1.47	0.40	0.21	0.40	1.88	(1.61)	2.97	(2.80)	12.40
ACHC	2.53	(0.86)	0.00	(1.45)	0.00	0.00	4.10	(6.29)	29.66
SEM	1.91	0.01	0.00	(0.14)	0.00	0.00	3.62	(3.79)	13.37
ADUS	1.62	(0.34)	0.00	(0.95)	0.00	0.00	2.76	(3.92)	13.15
SGRY	1.59	0.24	0.13	0.14	1.79	(2.07)	3.39	(2.84)	28.71
ENSG	1.50	(0.02)	0.00	(0.18)	0.00	0.00	2.74	(3.61)	11.56
HCSG	1.96	0.44	0.28	0.48	1.52	(2.63)	4.25	(2.69)	18.63
EHAB	1.91	0.11	0.05	(0.01)	2.73	(1.76)	3.81	(4.23)	12.35
INNV	2.53	(0.12)	0.00	(0.31)	0.00	0.00	6.84	(6.08)	20.91
NHC	1.26	0.05	0.00	(0.04)	0.00	0.00	2.51	(3.18)	7.80

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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