HQY vs. UNH
HQY (HealthEquity, Inc.) and UNH (UnitedHealth Group Incorporated) are both stocks. Both are in the Healthcare sector — HQY in Health Information Services, UNH in Healthcare Plans. Over the past 10 years, HQY returned 12.32%/yr vs 12.49%/yr for UNH. At a 0.28 correlation, their price movements are largely independent.
Performance
HQY vs. UNH - Performance Comparison
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Returns By Period
In the year-to-date period, HQY achieves a -6.99% return, which is significantly lower than UNH's 15.09% return. Both investments have delivered pretty close results over the past 10 years, with HQY having a 12.32% annualized return and UNH not far ahead at 12.49%.
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%
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%
HQY vs. UNH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HQY HealthEquity, Inc. | -6.99% | -4.52% | 44.72% | 7.56% | 39.33% | -36.54% | -5.89% | 24.17% | 27.84% | 15.15% |
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 HQY and UNH is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2014 | 0.28 |
The correlation between HQY and UNH shifts across timeframes, from 0.14 (3 years) to 0.28 (all time), reflecting how their relationship changes across market environments.
Fundamentals
HQY:
$7.24B
UNH:
$343.07B
HQY:
$2.66
UNH:
$13.23
HQY:
32.06
UNH:
28.50
HQY:
5.53
UNH:
0.76
HQY:
3.54
UNH:
3.30
HQY:
$1.34B
UNH:
$449.71B
HQY:
$972.12M
UNH:
$84.55B
HQY:
$300.86M
UNH:
$22.99B
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Return for Risk
HQY vs. UNH — Risk / Return Rank
HQY
UNH
HQY vs. UNH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HealthEquity, Inc. (HQY) 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.
| HQY | UNH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.49 | 0.72 | -1.22 |
Sortino ratioReturn per unit of downside risk | -0.49 | 1.17 | -1.66 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.18 | -0.24 |
Calmar ratioReturn relative to maximum drawdown | -0.51 | 1.00 | -1.50 |
Martin ratioReturn relative to average drawdown | -0.85 | 2.18 | -3.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HQY | UNH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.49 | 0.72 | -1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.01 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.42 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.63 | -0.31 |
Drawdowns
HQY vs. UNH - Drawdown Comparison
The maximum HQY drawdown since its inception was -60.65%, smaller than the maximum UNH drawdown of -74.37%. Use the drawdown chart below to compare losses from any high point for HQY and UNH.
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Drawdown Indicators
| HQY | UNH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.65% | -74.37% | +13.72% |
Max Drawdown (1Y)Largest decline over 1 year | -35.25% | -28.96% | -6.29% |
Max Drawdown (3Y)Largest decline over 3 years | -36.07% | -61.39% | +25.32% |
Max Drawdown (5Y)Largest decline over 5 years | -52.81% | -61.39% | +8.58% |
Max Drawdown (10Y)Largest decline over 10 years | -60.65% | -61.39% | +0.74% |
Current DrawdownCurrent decline from peak | -25.59% | -37.50% | +11.91% |
Average DrawdownAverage peak-to-trough decline | -22.98% | -14.76% | -8.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.15% | 13.19% | +7.96% |
Volatility
HQY vs. UNH - Volatility Comparison
HealthEquity, Inc. (HQY) has a higher volatility of 10.40% compared to UnitedHealth Group Incorporated (UNH) at 6.91%. This indicates that HQY'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
| HQY | UNH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.40% | 6.91% | +3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 26.83% | 30.81% | -3.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.33% | 39.86% | -3.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.78% | 31.78% | +8.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.52% | 30.15% | +14.37% |
Dividends
HQY vs. UNH - Dividend Comparison
HQY has not paid dividends to shareholders, while UNH's dividend yield for the trailing twelve months is around 2.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HQY HealthEquity, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
HQY vs. UNH - Financials Comparison
This section allows you to compare key financial metrics between HealthEquity, 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
HQY vs. UNH - Profitability Comparison
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%.
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%.
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%.
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%.
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%.
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
HQY and UNH have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HQY has higher volatility (10.40%) compared to UNH (6.91%). In terms of maximum drawdown, HQY dropped -60.65% vs UNH's -74.37%.
UNH currently has the higher Sharpe Ratio (0.72 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.
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