MD vs. CHE

Last updated Jul 14, 2026

MD (MEDNAX, Inc.) and CHE (Chemed Corporation) are both stocks. Both operate in the Medical Care Facilities industry within the Healthcare sector. Over the past 10 years, MD returned -10.00%/yr vs 13.80%/yr for CHE. At a 0.28 correlation, their price movements are largely independent.

Performance

MD vs. CHE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MEDNAX, Inc. (MD) and Chemed Corporation (CHE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MD achieves a 22.21% return, which is significantly higher than CHE's 15.36% return. Over the past 10 years, MD has underperformed CHE with an annualized return of -10.00%, while CHE has yielded a comparatively higher 13.80% annualized return.

MD

• 1D: -0.49%
• 1M: 7.57%
• 6M: 15.36%
• YTD: 22.21%
• 1Y: 99.24%
• 3Y*: 23.73%
• 5Y*: -1.46%
• 10Y*: -10.00%

CHE

• 1D: 0.75%
• 1M: 17.40%
• 6M: 10.63%
• YTD: 15.36%
• 1Y: 7.61%
• 3Y*: -2.56%
• 5Y*: 1.34%
• 10Y*: 13.80%

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

MD vs. CHE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MD MEDNAX, Inc.	22.21%	63.03%	41.08%	-37.42%	-45.39%	10.88%	-11.69%	-15.79%	-38.25%	-19.83%
CHE Chemed Corporation	15.36%	-18.87%	-9.11%	14.90%	-3.22%	-0.38%	21.59%	55.58%	17.01%	52.32%

Correlation

The correlation between MD and CHE is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Sep 20, 1995	0.28

Fundamentals

Market Cap MD : $2.15B CHE : $6.53B
EPS MD : $2.07 CHE : $18.47
PE Ratio MD : 12.66 CHE : 26.66
PEG Ratio MD : 1.54 CHE : 12.55
PS Ratio MD : 1.14 CHE : 2.73
PB Ratio MD : 2.47 CHE : 7.94
Total Revenue (TTM) MD : $1.93B CHE : $2.54B
Gross Profit (TTM) MD : $385.43M CHE : $571.36M
EBITDA (TTM) MD : $243.92M CHE : $396.47M

Return for Risk

MD vs. CHE — Risk / Return Rank

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

MD

MD Risk / Return Rank: 93
MD Sharpe Ratio Rank: 94
MD Sortino Ratio Rank: 93
MD Omega Ratio Rank: 93
MD Calmar Ratio Rank: 92
MD Martin Ratio Rank: 91

CHE

CHE Risk / Return Rank: 52
CHE Sharpe Ratio Rank: 55
CHE Sortino Ratio Rank: 47
CHE Omega Ratio Rank: 50
CHE Calmar Ratio Rank: 54
CHE Martin Ratio Rank: 55

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.

MD vs. CHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MEDNAX, Inc. (MD) and Chemed Corporation (CHE). 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.

	MD	CHE	Difference
Sharpe ratio: Return per unit of total volatility	2.29	0.25	+2.04
Sortino ratio: Return per unit of downside risk	3.22	0.52	+2.70
Omega ratio: Gain probability vs. loss probability	1.43	1.08	+0.35
Calmar ratio: Return relative to maximum drawdown	4.22	0.33	+3.89
Martin ratio: Return relative to average drawdown	10.13	0.77	+9.36

MD vs. CHE - Sharpe Ratio Comparison

The current MD Sharpe Ratio is 2.29, which is higher than the CHE Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of MD and CHE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MD vs. CHE - Drawdown Comparison

The maximum MD drawdown since its inception was -92.08%, which is greater than CHE's maximum drawdown of -83.78%. Use the drawdown chart below to compare losses from any high point for MD and CHE.

Drawdown Indicators

	MD	CHE	Difference
Max Drawdown Largest peak-to-trough decline	-92.08%	-83.78%	-8.30%
Max Drawdown (1Y) Largest decline over 1 year	-23.65%	-22.98%	-0.67%
Max Drawdown (3Y) Largest decline over 3 years	-54.69%	-42.88%	-11.81%
Max Drawdown (5Y) Largest decline over 5 years	-80.74%	-42.88%	-37.86%
Max Drawdown (10Y) Largest decline over 10 years	-91.08%	-42.88%	-48.20%
Current Drawdown Current decline from peak	-69.42%	-23.61%	-45.81%
Average Drawdown Average peak-to-trough decline	-38.84%	-16.47%	-22.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.83%	9.85%	-0.02%

Volatility

MD vs. CHE - Volatility Comparison

MEDNAX, Inc. (MD) has a higher volatility of 7.72% compared to Chemed Corporation (CHE) at 7.06%. This indicates that MD's price experiences larger fluctuations and is considered to be riskier than CHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MD	CHE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.72%	7.06%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	26.55%	24.70%	+1.85%
Volatility (1Y) Calculated over the trailing 1-year period	43.63%	30.91%	+12.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.22%	25.37%	+18.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.01%	25.93%	+20.08%

Dividends

MD vs. CHE - Dividend Comparison

MD has not paid dividends to shareholders, while CHE's dividend yield for the trailing twelve months is around 0.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHE Chemed Corporation	0.49%	0.51%	0.34%	0.27%	0.29%	0.26%	0.25%	0.28%	0.41%	0.44%	0.62%	0.61%
MD MEDNAX, 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%

Financials

MD vs. CHE - Profitability Comparison

The chart below illustrates the profitability comparison between MEDNAX, Inc. and Chemed Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, MEDNAX, Inc. reported a gross profit of 0.00 and revenue of 476.20M. Therefore, the gross margin over that period was 0.0%.

CHE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Chemed Corporation reported a gross profit of 0.00 and revenue of 657.51M. Therefore, the gross margin over that period was 0.0%.

MD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, MEDNAX, Inc. reported an operating income of 41.66M and revenue of 476.20M, resulting in an operating margin of 8.8%.

CHE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Chemed Corporation reported an operating income of 84.58M and revenue of 657.51M, resulting in an operating margin of 12.9%.

MD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, MEDNAX, Inc. reported a net income of 29.57M and revenue of 476.20M, resulting in a net margin of 6.2%.

CHE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Chemed Corporation reported a net income of 66.30M and revenue of 657.51M, resulting in a net margin of 10.1%.

Frequently Asked Questions

Can I hold both MD and CHE in my portfolio?

MD and CHE have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MD or CHE?

MD has higher volatility (7.72%) compared to CHE (7.06%). In terms of maximum drawdown, MD dropped -92.08% vs CHE's -83.78%.

Which has better risk-adjusted returns?

MD currently has the higher Sharpe Ratio (2.29 vs 0.25), 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.