Correlation Between HealthEquity and US Physicalrapy
Can any of the company-specific risk be diversified away by investing in both HealthEquity and US Physicalrapy 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 HealthEquity and US Physicalrapy into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between HealthEquity and US Physicalrapy, you can compare the effects of market volatilities on HealthEquity and US Physicalrapy 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 HealthEquity with a short position of US Physicalrapy. Check out your portfolio center. Please also check ongoing floating volatility patterns of HealthEquity and US Physicalrapy.
Diversification Opportunities for HealthEquity and US Physicalrapy
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between HealthEquity and USPH is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding HealthEquity and US Physicalrapy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on US Physicalrapy and HealthEquity 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 HealthEquity are associated (or correlated) with US Physicalrapy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of US Physicalrapy has no effect on the direction of HealthEquity i.e., HealthEquity and US Physicalrapy go up and down completely randomly.
Pair Corralation between HealthEquity and US Physicalrapy
Considering the 90-day investment horizon HealthEquity is expected to generate 0.55 times more return on investment than US Physicalrapy. However, HealthEquity is 1.83 times less risky than US Physicalrapy. It trades about 0.18 of its potential returns per unit of risk. US Physicalrapy is currently generating about 0.09 per unit of risk. If you would invest 9,326 in HealthEquity on October 10, 2025 and sell it today you would earn a total of 451.00 from holding HealthEquity or generate 4.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
HealthEquity vs. US Physicalrapy
Performance |
| Timeline |
| HealthEquity |
| US Physicalrapy |
HealthEquity and US Physicalrapy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HealthEquity and US Physicalrapy
The main advantage of trading using opposite HealthEquity and US Physicalrapy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HealthEquity position performs unexpectedly, US Physicalrapy 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 US Physicalrapy will offset losses from the drop in US Physicalrapy's long position.| HealthEquity vs. Globus Medical | HealthEquity vs. Molina Healthcare | HealthEquity vs. Penumbra | HealthEquity vs. BrightSpring Health Services |
| US Physicalrapy vs. Healthcare Services Group | US Physicalrapy vs. Select Medical Holdings | US Physicalrapy vs. CONMED | US Physicalrapy vs. Adapthealth Corp |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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