Correlation Between Enhabit and Cross Country
Can any of the company-specific risk be diversified away by investing in both Enhabit and Cross Country at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Enhabit and Cross Country into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Enhabit and Cross Country Healthcare, you can compare the effects of market volatilities on Enhabit and Cross Country and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Enhabit with a short position of Cross Country. Check out your portfolio center. Please also check ongoing floating volatility patterns of Enhabit and Cross Country.
Diversification Opportunities for Enhabit and Cross Country
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Enhabit and Cross is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Enhabit and Cross Country Healthcare in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cross Country Healthcare and Enhabit is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Enhabit are associated (or correlated) with Cross Country. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cross Country Healthcare has no effect on the direction of Enhabit i.e., Enhabit and Cross Country go up and down completely randomly.
Pair Corralation between Enhabit and Cross Country
Given the investment horizon of 90 days Enhabit is expected to generate 0.53 times more return on investment than Cross Country. However, Enhabit is 1.9 times less risky than Cross Country. It trades about 0.12 of its potential returns per unit of risk. Cross Country Healthcare is currently generating about -0.17 per unit of risk. If you would invest 787.00 in Enhabit on September 9, 2025 and sell it today you would earn a total of 146.00 from holding Enhabit or generate 18.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Enhabit vs. Cross Country Healthcare
Performance |
| Timeline |
| Enhabit |
| Cross Country Healthcare |
Enhabit and Cross Country Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Enhabit and Cross Country
The main advantage of trading using opposite Enhabit and Cross Country positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Enhabit position performs unexpectedly, Cross Country can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Cross Country will offset losses from the drop in Cross Country's long position.| Enhabit vs. Oncology Institute | Enhabit vs. Auna SA | Enhabit vs. CeriBell, | Enhabit vs. Cross Country Healthcare |
| Cross Country vs. Oncology Institute | Cross Country vs. Enhabit | Cross Country vs. Auna SA | Cross Country vs. agilon health |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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