Aggregated price index with volume information
Summary:
- Hospital/Nursing Management stocks down 0.4% on average while median return down 0.9% in a day
- Hospital/Nursing Management stocks up 4.6% on average while median return up 3.6% in a week
- Hospital/Nursing Management stocks down 4.0% on average while median return down 4.1% in a month
- When average return is significantly different from median return, this implies an asymmetry - composite return is driven by some outliners.
Aggregated price index (close) is based on equal weighted constituencies returns. Average short volume and average total volumes are averaged across all volume data among constituencies.
- 1M winners are : Winners for past month are $EHC 7.8%, $BKD 6.7%
- 1M losers are : Losers for past month are $SEM -4.7%, $UHS -6.9%, $TDOC -11.4%, $VMD -11.9%, $SGRY -14.9%
- 1W winners are : Winners for past week are $CYH 16.9%, $UHS 7.5%, $THC 7.1%, $SGRY 6.1%, $HCA 5.8%
- 1W losers are : Losers for past week are
Correlation Analysis
Index correlation analysis
Correlation for the past month is 42.0%, for the past 3 months is 26.6%
In the past month for a 5 days rolling window, the highest corrrelation is 66.8%, the lowest correlation is -3.8%, the latest correlation is 45.3%
When a correlation deviated from the normal level and goes lower or even negative, it indicates some of stocks have deviated from the normal direction of the group. The deviation could reverse if long term level of correlation was at a higher level. It creates trading opportunities and deserves study whether the deviation is idiosyncratic or systematic.
Among pairwise correlation, the highest correlation is 91.3% between HCA and THC
The lowest correlation is -5.5% between BKD and PINC
Community Health's (CYH) first-quarter results benefit from improved occupancy and reimbursement rates. However, declining admissions partially offset the positives.
Universal Health's (UHS) first-quarter results benefit from improved patient days in both segments. However, higher expenses partially offset the positives.
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Growing patient volumes, advancements in technology, admissions, premium rate hikes and other factors are likely to have benefited healthcare players during Q1. Companies like CI, HCA, AVTR and THC can outperform.
HCA Healthcare (HCA) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Hubbel, Caterpillar, The Timken Co. and HCA Healthcare are part of the Zacks Screen of the Week article.
The headline numbers for Encompass Health (EHC) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Although the revenue and EPS for Community Health Systems (CYH) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Insights into CYH's Financial Performance and Strategic Improvements
Robust Discharge Growth and Effective Expense Management Drive Strong Q1 Performance