HCA vs. BNS.TO
HCA (HCA Healthcare, Inc.) and BNS.TO (The Bank of Nova Scotia) are both stocks. HCA operates in Medical Care Facilities (Healthcare), while BNS.TO operates in Banks - Diversified (Financial Services). Over the past 10 years, HCA returned 18.27%/yr vs 10.85%/yr for BNS.TO. At a 0.25 correlation, their price movements are largely independent.
Performance
HCA vs. BNS.TO - Performance Comparison
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Different Trading Currencies
HCA is traded in USD, while BNS.TO is traded in CAD. To make them comparable, the BNS.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HCA achieves a -16.94% return, which is significantly lower than BNS.TO's 16.11% return. Over the past 10 years, HCA has outperformed BNS.TO with an annualized return of 18.27%, while BNS.TO has yielded a comparatively lower 10.85% annualized return.
HCA
- 1D
- 2.29%
- 1M
- -9.44%
- YTD
- -16.94%
- 6M
- -19.89%
- 1Y
- 4.87%
- 3Y*
- 12.30%
- 5Y*
- 13.79%
- 10Y*
- 18.27%
BNS.TO
- 1D
- 1.58%
- 1M
- 9.71%
- YTD
- 16.11%
- 6M
- 18.04%
- 1Y
- 63.04%
- 3Y*
- 26.26%
- 5Y*
- 10.67%
- 10Y*
- 10.85%
HCA vs. BNS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HCA HCA Healthcare, Inc. | -16.94% | 56.71% | 11.75% | 13.83% | -5.64% | 57.58% | 12.07% | 20.24% | 43.37% | 18.67% |
BNS.TO The Bank of Nova Scotia | 16.11% | 45.39% | 17.55% | 6.21% | -27.44% | 38.05% | 2.12% | 16.60% | -19.06% | 20.99% |
Correlation
The correlation between HCA and BNS.TO is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2011 | 0.25 |
Over the past year, the correlation between HCA and BNS.TO has dropped to 0.04 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.
Fundamentals
HCA:
$28.46
BNS.TO:
CA$7.57
HCA:
13.60
BNS.TO:
15.51
HCA:
1.22
BNS.TO:
2.43
HCA:
$75.60B
BNS.TO:
CA$61.04B
HCA:
$31.37B
BNS.TO:
CA$33.58B
HCA:
$15.60B
BNS.TO:
CA$13.09B
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Return for Risk
HCA vs. BNS.TO — Risk / Return Rank
HCA
BNS.TO
HCA vs. BNS.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HCA Healthcare, Inc. (HCA) and The Bank of Nova Scotia (BNS.TO). 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.
| HCA | BNS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.91 | ||
| Sortino ratioReturn per unit of downside risk | -5.28 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.76 | -0.70 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | 4.82 | -4.68 |
| Martin ratioReturn relative to average drawdown | 0.44 | 18.89 | -18.45 |
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Drawdowns
HCA vs. BNS.TO - Drawdown Comparison
The maximum HCA drawdown since its inception was -54.74%, smaller than the maximum BNS.TO drawdown of -63.90%. Use the drawdown chart below to compare losses from any high point for HCA and BNS.TO.
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Drawdown Indicators
| HCA | BNS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.74% | -63.90% | +9.16% |
Max Drawdown (1Y)Largest decline over 1 year | -33.62% | -13.14% | -20.48% |
Max Drawdown (3Y)Largest decline over 3 years | -33.62% | -20.08% | -13.54% |
Max Drawdown (5Y)Largest decline over 5 years | -39.49% | -40.28% | +0.79% |
Max Drawdown (10Y)Largest decline over 10 years | -54.74% | -46.84% | -7.90% |
Current DrawdownCurrent decline from peak | -28.87% | 0.00% | -28.87% |
Average DrawdownAverage peak-to-trough decline | -11.04% | -13.77% | +2.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.15% | 3.35% | +7.80% |
Volatility
HCA vs. BNS.TO - Volatility Comparison
HCA Healthcare, Inc. (HCA) has a higher volatility of 8.97% compared to The Bank of Nova Scotia (BNS.TO) at 4.63%. This indicates that HCA's price experiences larger fluctuations and is considered to be riskier than BNS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HCA | BNS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.97% | 4.63% | +4.34% |
Volatility (6M)Calculated over the trailing 6-month period | 21.53% | 12.12% | +9.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.33% | 15.50% | +11.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.90% | 17.73% | +12.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.63% | 20.09% | +12.54% |
Dividends
HCA vs. BNS.TO - Dividend Comparison
HCA's dividend yield for the trailing twelve months is around 0.76%, less than BNS.TO's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNS.TO The Bank of Nova Scotia | 3.75% | 4.27% | 5.49% | 6.48% | 4.61% | 5.14% | 5.23% | 3.60% | 4.91% | 3.82% | 3.91% | 6.11% |
HCA HCA Healthcare, Inc. | 0.76% | 0.62% | 0.88% | 0.89% | 0.93% | 0.75% | 0.63% | 1.08% | 1.12% | 0.00% | 0.00% | 0.00% |
Financials
HCA vs. BNS.TO - Financials Comparison
This section allows you to compare key financial metrics between HCA Healthcare, Inc. and The Bank of Nova Scotia. 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
HCA vs. BNS.TO - Profitability Comparison
HCA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, HCA Healthcare, Inc. reported a gross profit of 8.18B and revenue of 19.51B. Therefore, the gross margin over that period was 41.9%.
BNS.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Bank of Nova Scotia reported a gross profit of 8.40B and revenue of 17.19B. Therefore, the gross margin over that period was 48.9%.
HCA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, HCA Healthcare, Inc. reported an operating income of 3.18B and revenue of 19.51B, resulting in an operating margin of 16.3%.
BNS.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Bank of Nova Scotia reported an operating income of 3.43B and revenue of 17.19B, resulting in an operating margin of 20.0%.
HCA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, HCA Healthcare, Inc. reported a net income of 1.88B and revenue of 19.51B, resulting in a net margin of 9.6%.
BNS.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Bank of Nova Scotia reported a net income of 2.60B and revenue of 17.19B, resulting in a net margin of 15.1%.
Frequently Asked Questions
HCA and BNS.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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