HCA Holdings Correlations

HCA Etf

USD 479.02 8.37 1.78%

The current 90-days correlation between HCA Holdings and Medtronic PLC is 0.29 (i.e., Modest 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

Modest diversification

The correlation between HCA Holdings and DJI is 0.26 (i.e., Modest 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 unemployment.

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

Moving together with HCA Etf

0.89	GH	Guardant Health	Pair Corr
0.89	MD	Mednax Inc	Pair Corr
0.78	FLGT	Fulgent Genetics	Pair Corr
0.82	BKD	Brookdale Senior Living	Pair Corr
0.87	CAH	Cardinal Health	Pair Corr
0.79	COR	Cencora	Pair Corr
0.62	HQY	HealthEquity	Pair Corr
0.79	MCK	McKesson	Pair Corr
0.69	NHC	National HealthCare	Pair Corr
0.74	NRC	National Research Corp	Pair Corr

Moving against HCA Etf

0.77	AGL	agilon health	Pair Corr
0.73	UNH	UnitedHealth Group CDR Earnings Call This Week	Pair Corr
0.69	300015	Aier Eye Hospital	Pair Corr
0.62	AMN	AMN Healthcare Services	Pair Corr
0.6	CI	Cigna Corp	Pair Corr
0.58	LH	Laboratory	Pair Corr
0.78	FMS	Fresenius Medical Care	Pair Corr
0.75	IVP	Inspire Veterinary	Pair Corr
0.75	UNH	UnitedHealth Group	Pair Corr
0.73	MOH	Molina Healthcare	Pair Corr
0.62	EHC	Encompass Health Corp	Pair Corr
0.59	DVA	DaVita HealthCare	Pair Corr
0.58	HUM	Humana Inc	Pair Corr
0.5	PHA	Premier Health	Pair Corr
0.4	MRM	Medirom Healthcare	Pair Corr
0.36	ELV	Elevance Health	Pair Corr
0.31	SBC	SBC Communications	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.64	0.4	-0.49	0.27	-0.33	0.3	-0.23	-0.38	-0.51	META
MSFT	0.64		0.85	-0.55	0.42	-0.03	-0.03	-0.49	-0.82	-0.65	MSFT
UBER	0.4	0.85		-0.54	0.47	0.19	-0.23	-0.51	-0.83	-0.64	UBER
F	-0.49	-0.55	-0.54		-0.67	0.23	0.35	0.63	0.67	0.74	F
T	0.27	0.42	0.47	-0.67		0.28	-0.67	-0.65	-0.43	-0.54	T
A	-0.33	-0.03	0.19	0.23	0.28		-0.49	-0.23	-0.01	0.0	A
CRM	0.3	-0.03	-0.23	0.35	-0.67	-0.49		0.54	0.25	0.29	CRM
JPM	-0.23	-0.49	-0.51	0.63	-0.65	-0.23	0.54		0.67	0.68	JPM
MRK	-0.38	-0.82	-0.83	0.67	-0.43	-0.01	0.25	0.67		0.79	MRK
XOM	-0.51	-0.65	-0.64	0.74	-0.54	0.0	0.29	0.68	0.79		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

UBER	+ 0.85	MSFT
XOM	+ 0.79	MRK
XOM	+ 0.74	F
XOM	+ 0.68	JPM
MRK	+ 0.67	F
MRK	+ 0.67	JPM

High negative correlations

MRK	- 0.83	UBER
MRK	- 0.82	MSFT
CRM	- 0.67	T
T	- 0.67	F
JPM	- 0.65	T
XOM	- 0.65	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	1.34	(0.21)	0.00	(0.15)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.19)	0.00	(0.30)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.53	(0.27)	0.00	(0.18)	0.00	0.00	2.60	(3.82)	10.23
F	1.51	0.12	0.08	0.16	1.68	(1.68)	3.38	(2.63)	16.30
T	0.89	(0.11)	0.00	(0.40)	0.00	0.00	1.61	(1.83)	5.75
A	1.14	(0.04)	(0.02)	0.04	1.34	(1.20)	2.34	(2.22)	6.50
CRM	1.55	0.04	0.01	0.12	2.01	(1.53)	3.66	(2.92)	9.91
JPM	1.12	0.01	0.02	0.08	1.44	(1.17)	2.34	(2.28)	7.02
MRK	1.23	0.29	0.21	0.42	1.08	(1.52)	3.59	(1.98)	8.09
XOM	0.97	0.04	0.00	0.15	1.09	(1.03)	2.10	(1.93)	5.82

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