CHE vs. UNH

Last updated Jun 4, 2026

CHE (Chemed Corporation) and UNH (UnitedHealth Group Incorporated) are both stocks. Both are in the Healthcare sector — CHE in Medical Care Facilities, UNH in Healthcare Plans. Over the past 10 years, CHE returned 12.84%/yr vs 12.49%/yr for UNH. At a 0.24 correlation, their price movements are largely independent.

Performance

CHE vs. UNH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Chemed Corporation (CHE) and UnitedHealth Group Incorporated (UNH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CHE achieves a 0.03% return, which is significantly lower than UNH's 15.09% return. Both investments have delivered pretty close results over the past 10 years, with CHE having a 12.84% annualized return and UNH not far behind at 12.49%.

CHE

• 1D: 2.31%
• 1M: 0.36%
• YTD: 0.03%
• 6M: -0.66%
• 1Y: -24.49%
• 3Y*: -7.33%
• 5Y*: -2.71%
• 10Y*: 12.84%

UNH

• 1D: -0.24%
• 1M: 1.69%
• YTD: 15.09%
• 6M: 12.59%
• 1Y: 28.69%
• 3Y*: -7.15%
• 5Y*: 0.25%
• 10Y*: 12.49%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CHE vs. UNH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CHE Chemed Corporation	0.03%	-18.87%	-9.11%	14.90%	-3.22%	-0.38%	21.59%	55.58%	17.01%	52.32%
UNH UnitedHealth Group Incorporated	15.09%	-33.14%	-2.41%	0.80%	6.94%	45.20%	21.25%	20.00%	14.52%	39.83%

Correlation

The correlation between CHE and UNH is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990	0.24

The correlation between CHE and UNH shifts across timeframes, from 0.24 (3 years) to 0.35 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CHE : $5.84B UNH : $343.07B
EPS CHE : $18.29 UNH : $13.23
PE Ratio CHE : 23.34 UNH : 28.50
PS Ratio CHE : 2.39 UNH : 0.76
PB Ratio CHE : 6.88 UNH : 3.30
Total Revenue (TTM) CHE : $2.54B UNH : $449.71B
Gross Profit (TTM) CHE : $571.36M UNH : $84.55B
EBITDA (TTM) CHE : $396.47M UNH : $22.99B

Return for Risk

CHE vs. UNH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CHE

CHE Risk / Return Rank: 13
CHE Sharpe Ratio Rank: 10
CHE Sortino Ratio Rank: 13
CHE Omega Ratio Rank: 10
CHE Calmar Ratio Rank: 14
CHE Martin Ratio Rank: 17

UNH

UNH Risk / Return Rank: 61
UNH Sharpe Ratio Rank: 64
UNH Sortino Ratio Rank: 57
UNH Omega Ratio Rank: 61
UNH Calmar Ratio Rank: 61
UNH Martin Ratio Rank: 60

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CHE vs. UNH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chemed Corporation (CHE) and UnitedHealth Group Incorporated (UNH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CHE	UNH	Difference
Sharpe ratio: Return per unit of total volatility	-0.75	0.72	-1.47
Sortino ratio: Return per unit of downside risk	-0.83	1.17	-2.00
Omega ratio: Gain probability vs. loss probability	0.87	1.18	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.72	1.00	-1.71
Martin ratio: Return relative to average drawdown	-1.10	2.18	-3.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CHE vs. UNH - Sharpe Ratio Comparison

The current CHE Sharpe Ratio is -0.75, which is lower than the UNH Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of CHE and UNH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CHE	UNH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.75	0.72	-1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.11	0.01	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.42	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.63	-0.31

Drawdowns

CHE vs. UNH - Drawdown Comparison

The maximum CHE drawdown since its inception was -83.78%, which is greater than UNH's maximum drawdown of -74.37%. Use the drawdown chart below to compare losses from any high point for CHE and UNH.

Drawdown Indicators

	CHE	UNH	Difference
Max Drawdown Largest peak-to-trough decline	-83.78%	-74.37%	-9.41%
Max Drawdown (1Y) Largest decline over 1 year	-34.20%	-28.96%	-5.24%
Max Drawdown (3Y) Largest decline over 3 years	-42.88%	-61.39%	+18.51%
Max Drawdown (5Y) Largest decline over 5 years	-42.88%	-61.39%	+18.51%
Max Drawdown (10Y) Largest decline over 10 years	-42.88%	-61.39%	+18.51%
Current Drawdown Current decline from peak	-33.76%	-37.50%	+3.74%
Average Drawdown Average peak-to-trough decline	-16.45%	-14.76%	-1.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.99%	13.19%	+9.80%

Volatility

CHE vs. UNH - Volatility Comparison

The current volatility for Chemed Corporation (CHE) is 5.38%, while UnitedHealth Group Incorporated (UNH) has a volatility of 6.91%. This indicates that CHE experiences smaller price fluctuations and is considered to be less risky than UNH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHE	UNH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	6.91%	-1.53%
Volatility (6M) Calculated over the trailing 6-month period	24.06%	30.81%	-6.75%
Volatility (1Y) Calculated over the trailing 1-year period	32.91%	39.86%	-6.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.21%	31.78%	-6.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.84%	30.15%	-4.31%

Dividends

CHE vs. UNH - Dividend Comparison

CHE's dividend yield for the trailing twelve months is around 0.56%, less than UNH's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHE Chemed Corporation	0.56%	0.51%	0.34%	0.27%	0.29%	0.26%	0.25%	0.28%	0.41%	0.44%	0.62%	0.61%
UNH UnitedHealth Group Incorporated	2.34%	2.64%	1.62%	1.38%	1.21%	1.12%	1.38%	1.41%	1.38%	1.30%	1.48%	1.59%

Financials

CHE vs. UNH - Profitability Comparison

The chart below illustrates the profitability comparison between Chemed Corporation and UnitedHealth Group Incorporated over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CHE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Chemed Corporation reported a gross profit of 0.00 and revenue of 657.51M. Therefore, the gross margin over that period was 0.0%.

UNH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, UnitedHealth Group Incorporated reported a gross profit of 25.41B and revenue of 111.72B. Therefore, the gross margin over that period was 22.7%.

CHE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Chemed Corporation reported an operating income of 84.58M and revenue of 657.51M, resulting in an operating margin of 12.9%.

UNH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, UnitedHealth Group Incorporated reported an operating income of 8.99B and revenue of 111.72B, resulting in an operating margin of 8.1%.

CHE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Chemed Corporation reported a net income of 66.30M and revenue of 657.51M, resulting in a net margin of 10.1%.

UNH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, UnitedHealth Group Incorporated reported a net income of 6.28B and revenue of 111.72B, resulting in a net margin of 5.6%.

Frequently Asked Questions

Can I hold both CHE and UNH in my portfolio?

CHE and UNH have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHE or UNH?

UNH has higher volatility (6.91%) compared to CHE (5.38%). In terms of maximum drawdown, CHE dropped -83.78% vs UNH's -74.37%.

Which has better risk-adjusted returns?

UNH currently has the higher Sharpe Ratio (0.72 vs -0.75), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.