HQY vs. PRVA

Last updated Jun 9, 2026

HQY (HealthEquity, Inc.) and PRVA (Privia Health Group, Inc.) are both stocks. Both operate in the Health Information Services industry within the Healthcare sector. Over the past 5 years, HQY returned 2.42%/yr vs -11.56%/yr for PRVA. At a 0.25 correlation, their price movements are largely independent.

Performance

HQY vs. PRVA - Performance Comparison

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

Returns By Period

In the year-to-date period, HQY achieves a -4.12% return, which is significantly higher than PRVA's -9.70% return.

HQY

• 1D: -0.94%
• 1M: 3.54%
• YTD: -4.12%
• 6M: -4.62%
• 1Y: -21.26%
• 3Y*: 10.66%
• 5Y*: 2.42%
• 10Y*: 11.72%

PRVA

• 1D: -1.02%
• 1M: -7.16%
• YTD: -9.70%
• 6M: -9.39%
• 1Y: -7.68%
• 3Y*: -8.76%
• 5Y*: -11.56%
• 10Y*: —

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

HQY vs. PRVA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HQY HealthEquity, Inc.	-4.12%	-4.52%	44.72%	7.56%	39.33%	-42.15%
PRVA Privia Health Group, Inc.	-9.70%	21.28%	-15.11%	1.41%	-12.21%	12.48%

Correlation

The correlation between HQY and PRVA is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (All Time) Calculated using the full available price history since Apr 29, 2021	0.25

The correlation between HQY and PRVA shifts across timeframes, from 0.21 (3 years) to 0.35 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap HQY : $7.47B PRVA : $2.80B
EPS HQY : $2.66 PRVA : $23.78
PE Ratio HQY : 33.05 PRVA : 0.90
PEG Ratio HQY : 0.24 PRVA : 0.01
PS Ratio HQY : 5.70 PRVA : 1.24
PB Ratio HQY : 3.65 PRVA : 0.00
Total Revenue (TTM) HQY : $1.34B PRVA : $2.25B
Gross Profit (TTM) HQY : $972.12M PRVA : $158.32M
EBITDA (TTM) HQY : $300.86M PRVA : $53.65M

Return for Risk

HQY vs. PRVA — Risk / Return Rank

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

HQY

HQY Risk / Return Rank: 18
HQY Sharpe Ratio Rank: 16
HQY Sortino Ratio Rank: 17
HQY Omega Ratio Rank: 18
HQY Calmar Ratio Rank: 20
HQY Martin Ratio Rank: 20

PRVA

PRVA Risk / Return Rank: 30
PRVA Sharpe Ratio Rank: 32
PRVA Sortino Ratio Rank: 28
PRVA Omega Ratio Rank: 29
PRVA Calmar Ratio Rank: 32
PRVA Martin Ratio Rank: 30

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. PRVA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HealthEquity, Inc. (HQY) and Privia Health Group, Inc. (PRVA). 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	PRVA	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	-0.24	-0.36
Sortino ratio: Return per unit of downside risk	-0.66	-0.13	-0.52
Omega ratio: Gain probability vs. loss probability	0.92	0.99	-0.07
Calmar ratio: Return relative to maximum drawdown	-0.62	-0.32	-0.31
Martin ratio: Return relative to average drawdown	-1.06	-0.67	-0.39
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. PRVA - Sharpe Ratio Comparison

The current HQY Sharpe Ratio is -0.60, which is lower than the PRVA Sharpe Ratio of -0.24. The chart below compares the historical Sharpe Ratios of HQY and PRVA, 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	PRVA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.60	-0.24	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	-0.24	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	-0.03	+0.35

Drawdowns

HQY vs. PRVA - Drawdown Comparison

The maximum HQY drawdown since its inception was -60.65%, smaller than the maximum PRVA drawdown of -67.33%. Use the drawdown chart below to compare losses from any high point for HQY and PRVA.

Drawdown Indicators

	HQY	PRVA	Difference
Max Drawdown Largest peak-to-trough decline	-60.65%	-67.33%	+6.68%
Max Drawdown (1Y) Largest decline over 1 year	-34.14%	-24.17%	-9.97%
Max Drawdown (3Y) Largest decline over 3 years	-36.07%	-44.29%	+8.22%
Max Drawdown (5Y) Largest decline over 5 years	-52.81%	-67.33%	+14.52%
Max Drawdown (10Y) Largest decline over 10 years	-60.65%	—	—
Current Drawdown Current decline from peak	-23.29%	-56.53%	+33.24%
Average Drawdown Average peak-to-trough decline	-22.98%	-48.77%	+25.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.32%	11.52%	+8.80%

Volatility

HQY vs. PRVA - Volatility Comparison

HealthEquity, Inc. (HQY) has a higher volatility of 10.84% compared to Privia Health Group, Inc. (PRVA) at 8.93%. This indicates that HQY's price experiences larger fluctuations and is considered to be riskier than PRVA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HQY	PRVA	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.84%	8.93%	+1.91%
Volatility (6M) Calculated over the trailing 6-month period	26.67%	23.61%	+3.06%
Volatility (1Y) Calculated over the trailing 1-year period	35.39%	32.23%	+3.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.79%	48.83%	-9.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.49%	54.51%	-10.02%

Dividends

HQY vs. PRVA - Dividend Comparison

Neither HQY nor PRVA has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both HQY and PRVA in my portfolio?

HQY and PRVA have a correlation of 0.35, 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 PRVA?

HQY has higher volatility (10.84%) compared to PRVA (8.93%). In terms of maximum drawdown, HQY dropped -60.65% vs PRVA's -67.33%.

Which has better risk-adjusted returns?

PRVA currently has the higher Sharpe Ratio (-0.24 vs -0.60), 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.