ELV vs. UNH
ELV (Elevance Health, Inc.) and UNH (UnitedHealth Group Incorporated) are both stocks. Both operate in the Healthcare Plans industry within the Healthcare sector. Over the past 10 years, ELV returned 13.15%/yr vs 13.06%/yr for UNH. Their 0.69 correlation means they have sometimes moved together and sometimes differently.
Performance
ELV vs. UNH - Performance Comparison
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Returns By Period
In the year-to-date period, ELV achieves a 8.31% return, which is significantly lower than UNH's 27.23% return. Both investments have delivered pretty close results over the past 10 years, with ELV having a 13.15% annualized return and UNH not far behind at 13.06%.
ELV
- 1D
- -0.15%
- 1M
- -10.06%
- 6M
- 9.82%
- YTD
- 8.31%
- 1Y
- 39.71%
- 3Y*
- -5.51%
- 5Y*
- 1.01%
- 10Y*
- 13.15%
- ALL TIME*
- 13.60%
UNH
- 1D
- -1.68%
- 1M
- -2.58%
- 6M
- 46.38%
- YTD
- 27.23%
- 1Y
- 78.95%
- 3Y*
- -4.45%
- 5Y*
- 1.88%
- 10Y*
- 13.06%
- ALL TIME*
- 22.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $467.14M | $602.22M | $657.78M | |
| $2.03B | $2.36B | $2.61B |
ELV vs. UNH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ELV Elevance Health, Inc. | 8.31% | -3.14% | -20.72% | -6.89% | 11.83% | 46.12% | 7.74% | 16.33% | 18.11% | 58.72% |
UNH UnitedHealth Group Incorporated | 27.23% | -33.14% | -2.41% | 0.80% | 6.94% | 45.20% | 21.25% | 20.00% | 14.52% | 39.83% |
Correlation
The correlation between ELV and UNH is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.68 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2001 | 0.69 |
The correlation between ELV and UNH has been stable across timeframes, ranging from 0.61 to 0.70 - a consistent structural relationship.
Fundamentals
ELV:
$81.51B
UNH:
$376.34B
ELV:
$22.41
UNH:
$15.53
ELV:
16.77
UNH:
26.69
ELV:
0.41
UNH:
0.84
ELV:
1.82
UNH:
3.59
ELV:
$201.11B
UNH:
$450.13B
ELV:
$78.34B
UNH:
$101.21B
ELV:
$8.01B
UNH:
$25.76B
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Return for Risk
ELV vs. UNH — Risk / Return Rank
ELV
UNH
ELV vs. UNH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Elevance Health, Inc. (ELV) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ELV | UNH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.36 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 2.45 | -1.10 |
| Martin ratioReturn relative to average drawdown | 3.46 | 6.01 | -2.55 |
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Drawdowns
ELV vs. UNH - Drawdown Comparison
The maximum ELV drawdown since its inception was -67.19%, smaller than the maximum UNH drawdown of -74.37%. Use the drawdown chart below to compare losses from any high point for ELV and UNH.
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Drawdown Indicators
| ELV | UNH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.19% | -74.37% | +7.18% |
Max Drawdown (1Y)Largest decline over 1 year | -26.49% | -28.96% | +2.47% |
Max Drawdown (3Y)Largest decline over 3 years | -50.38% | -61.39% | +11.01% |
Max Drawdown (5Y)Largest decline over 5 years | -50.38% | -61.39% | +11.01% |
Max Drawdown (10Y)Largest decline over 10 years | -50.38% | -61.39% | +11.01% |
Current DrawdownCurrent decline from peak | -30.68% | -30.91% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -15.36% | -14.83% | -0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.32% | 11.78% | -1.46% |
Volatility
ELV vs. UNH - Volatility Comparison
Elevance Health, Inc. (ELV) has a higher volatility of 12.46% compared to UnitedHealth Group Incorporated (UNH) at 7.40%. This indicates that ELV's price experiences larger fluctuations and is considered to be riskier than UNH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ELV | UNH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.46% | 7.40% | +5.06% |
Volatility (6M)Calculated over the trailing 6-month period | 25.13% | 21.69% | +3.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.60% | 38.68% | -3.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.66% | 32.06% | -2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.09% | 30.31% | +0.78% |
Dividends
ELV vs. UNH - Dividend Comparison
ELV's dividend yield for the trailing twelve months is around 1.83%, less than UNH's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELV Elevance Health, Inc. | 1.83% | 1.95% | 1.77% | 1.26% | 1.00% | 0.98% | 1.18% | 1.06% | 1.14% | 1.20% | 1.81% | 1.79% |
UNH UnitedHealth Group Incorporated | 2.16% | 2.64% | 1.62% | 1.38% | 1.21% | 1.12% | 1.38% | 1.41% | 1.38% | 1.30% | 1.48% | 1.59% |
Financials
ELV vs. UNH - Financials Comparison
This section allows you to compare key financial metrics between Elevance Health, Inc. and UnitedHealth Group Incorporated. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ELV vs. UNH - Profitability Comparison
ELV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Elevance Health, Inc. reported a gross profit of 44.98B and revenue of 50.47B. Therefore, the gross margin over that period was 89.1%.
UNH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, UnitedHealth Group Incorporated reported a gross profit of 36.67B and revenue of 112.03B. Therefore, the gross margin over that period was 32.7%.
ELV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Elevance Health, Inc. reported an operating income of 2.06B and revenue of 50.47B, resulting in an operating margin of 4.1%.
UNH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, UnitedHealth Group Incorporated reported an operating income of 7.99B and revenue of 112.03B, resulting in an operating margin of 7.1%.
ELV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Elevance Health, Inc. reported a net income of 1.46B and revenue of 50.47B, resulting in a net margin of 2.9%.
UNH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, UnitedHealth Group Incorporated reported a net income of 5.48B and revenue of 112.03B, resulting in a net margin of 4.9%.
Frequently Asked Questions
ELV and UNH have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ELV has higher volatility (12.46%) compared to UNH (7.40%). In terms of maximum drawdown, ELV dropped -67.19% vs UNH's -74.37%.
UNH currently has the higher Sharpe Ratio (1.86 vs 1.01), 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.
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