HQY vs. AVAH

Last updated Jun 4, 2026

HQY (HealthEquity, Inc.) and AVAH (Aveanna Healthcare Holdings Inc.) are both stocks. Both are in the Healthcare sector — HQY in Health Information Services, AVAH in Medical Care Facilities. Over the past 5 years, HQY returned 0.99%/yr vs -10.89%/yr for AVAH. At a 0.19 correlation, their price movements are largely independent.

Performance

HQY vs. AVAH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HealthEquity, Inc. (HQY) and Aveanna Healthcare Holdings Inc. (AVAH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HQY achieves a -6.99% return, which is significantly higher than AVAH's -17.01% return.

HQY

• 1D: -3.54%
• 1M: 3.69%
• YTD: -6.99%
• 6M: -13.62%
• 1Y: -17.88%
• 3Y*: 12.87%
• 5Y*: 0.99%
• 10Y*: 12.32%

AVAH

• 1D: 4.79%
• 1M: 2.26%
• YTD: -17.01%
• 6M: -23.82%
• 1Y: 22.60%
• 3Y*: 72.98%
• 5Y*: -10.89%
• 10Y*: —

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

HQY vs. AVAH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HQY HealthEquity, Inc.	-6.99%	-4.52%	44.72%	7.56%	39.33%	-42.15%
AVAH Aveanna Healthcare Holdings Inc.	-17.01%	78.77%	70.52%	243.59%	-89.46%	-38.33%

Correlation

The correlation between HQY and AVAH is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Apr 29, 2021	0.19

Fundamentals

Market Cap HQY : $7.24B AVAH : $1.51B
EPS HQY : $2.66 AVAH : $1.20
PE Ratio HQY : 32.06 AVAH : 5.64
PS Ratio HQY : 5.53 AVAH : 0.58
PB Ratio HQY : 3.54 AVAH : 6.27
Total Revenue (TTM) HQY : $1.34B AVAH : $2.52B
Gross Profit (TTM) HQY : $972.12M AVAH : $823.98M
EBITDA (TTM) HQY : $300.86M AVAH : $306.37M

Return for Risk

HQY vs. AVAH — Risk / Return Rank

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

HQY

HQY Risk / Return Rank: 21
HQY Sharpe Ratio Rank: 20
HQY Sortino Ratio Rank: 20
HQY Omega Ratio Rank: 20
HQY Calmar Ratio Rank: 23
HQY Martin Ratio Rank: 24

AVAH

AVAH Risk / Return Rank: 54
AVAH Sharpe Ratio Rank: 52
AVAH Sortino Ratio Rank: 59
AVAH Omega Ratio Rank: 56
AVAH Calmar Ratio Rank: 54
AVAH Martin Ratio Rank: 52

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.

HQY vs. AVAH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HealthEquity, Inc. (HQY) and Aveanna Healthcare Holdings Inc. (AVAH). 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.

	HQY	AVAH	Difference
Sharpe ratio Return per unit of total volatility	-0.49	0.33	-0.83
Sortino ratio Return per unit of downside risk	-0.49	1.22	-1.71
Omega ratio Gain probability vs. loss probability	0.94	1.15	-0.21
Calmar ratio Return relative to maximum drawdown	-0.51	0.58	-1.08
Martin ratio Return relative to average drawdown	-0.85	1.04	-1.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HQY vs. AVAH - Sharpe Ratio Comparison

The current HQY Sharpe Ratio is -0.49, which is lower than the AVAH Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of HQY and AVAH, 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

	HQY	AVAH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.49	0.33	-0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	-0.14	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	-0.14	+0.46

Drawdowns

HQY vs. AVAH - Drawdown Comparison

The maximum HQY drawdown since its inception was -60.65%, smaller than the maximum AVAH drawdown of -94.76%. Use the drawdown chart below to compare losses from any high point for HQY and AVAH.

Drawdown Indicators

	HQY	AVAH	Difference
Max Drawdown Largest peak-to-trough decline	-60.65%	-94.76%	+34.11%
Max Drawdown (1Y) Largest decline over 1 year	-35.25%	-39.44%	+4.19%
Max Drawdown (3Y) Largest decline over 3 years	-36.07%	-41.40%	+5.33%
Max Drawdown (5Y) Largest decline over 5 years	-52.81%	-94.76%	+41.95%
Max Drawdown (10Y) Largest decline over 10 years	-60.65%	—	—
Current Drawdown Current decline from peak	-25.59%	-47.40%	+21.81%
Average Drawdown Average peak-to-trough decline	-22.98%	-63.71%	+40.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.15%	21.83%	-0.68%

Volatility

HQY vs. AVAH - Volatility Comparison

The current volatility for HealthEquity, Inc. (HQY) is 10.40%, while Aveanna Healthcare Holdings Inc. (AVAH) has a volatility of 16.90%. This indicates that HQY experiences smaller price fluctuations and is considered to be less risky than AVAH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HQY	AVAH	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.40%	16.90%	-6.50%
Volatility (6M) Calculated over the trailing 6-month period	26.83%	32.12%	-5.29%
Volatility (1Y) Calculated over the trailing 1-year period	36.33%	68.21%	-31.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.78%	78.19%	-38.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.52%	77.64%	-33.12%

Dividends

HQY vs. AVAH - Dividend Comparison

Neither HQY nor AVAH has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

HQY vs. AVAH - Profitability Comparison

The chart below illustrates the profitability comparison between HealthEquity, Inc. and Aveanna Healthcare Holdings Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

HQY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, HealthEquity, Inc. reported a gross profit of 256.31M and revenue of 354.64M. Therefore, the gross margin over that period was 72.3%.

AVAH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aveanna Healthcare Holdings Inc. reported a gross profit of 202.38M and revenue of 647.92M. Therefore, the gross margin over that period was 31.2%.

HQY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, HealthEquity, Inc. reported an operating income of 102.95M and revenue of 354.64M, resulting in an operating margin of 29.0%.

AVAH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aveanna Healthcare Holdings Inc. reported an operating income of 75.94M and revenue of 647.92M, resulting in an operating margin of 11.7%.

HQY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, HealthEquity, Inc. reported a net income of 69.42M and revenue of 354.64M, resulting in a net margin of 19.6%.

AVAH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aveanna Healthcare Holdings Inc. reported a net income of 41.65M and revenue of 647.92M, resulting in a net margin of 6.4%.

Frequently Asked Questions

Can I hold both HQY and AVAH in my portfolio?

HQY and AVAH have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HQY or AVAH?

AVAH has higher volatility (16.90%) compared to HQY (10.40%). In terms of maximum drawdown, HQY dropped -60.65% vs AVAH's -94.76%.

Which has better risk-adjusted returns?

AVAH currently has the higher Sharpe Ratio (0.33 vs -0.49), 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.