TDOC vs. HQY
TDOC (Teladoc Health, Inc.) and HQY (HealthEquity, Inc.) are both stocks. Both operate in the Health Information Services industry within the Healthcare sector. Over the past 10 years, TDOC returned -5.55%/yr vs 11.72%/yr for HQY. At a 0.28 correlation, their price movements are largely independent.
Performance
TDOC vs. HQY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TDOC achieves a 1.14% return, which is significantly higher than HQY's -4.12% return. Over the past 10 years, TDOC has underperformed HQY with an annualized return of -5.55%, while HQY has yielded a comparatively higher 11.72% annualized return.
TDOC
- 1D
- 0.43%
- 1M
- -2.34%
- YTD
- 1.14%
- 6M
- -6.35%
- 1Y
- -2.61%
- 3Y*
- -33.25%
- 5Y*
- -45.73%
- 10Y*
- -5.55%
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%
TDOC vs. HQY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TDOC Teladoc Health, Inc. | 1.14% | -22.99% | -57.82% | -8.88% | -74.24% | -54.08% | 138.84% | 68.89% | 42.24% | 111.21% |
HQY HealthEquity, Inc. | -4.12% | -4.52% | 44.72% | 7.56% | 39.33% | -36.54% | -5.89% | 24.17% | 27.84% | 15.15% |
Correlation
The correlation between TDOC and HQY is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2015 | 0.28 |
Fundamentals
TDOC:
$1.27B
HQY:
$7.47B
TDOC:
-$0.97
HQY:
$2.66
TDOC:
0.50
HQY:
5.70
TDOC:
0.95
HQY:
3.65
TDOC:
$2.51B
HQY:
$1.34B
TDOC:
$1.74B
HQY:
$972.12M
TDOC:
-$43.17M
HQY:
$300.86M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TDOC vs. HQY — Risk / Return Rank
TDOC
HQY
TDOC vs. HQY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Teladoc Health, Inc. (TDOC) and HealthEquity, Inc. (HQY). 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.
| TDOC | HQY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.92 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | -0.62 | +0.58 |
| Martin ratioReturn relative to average drawdown | -0.09 | -1.06 | +0.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| TDOC | HQY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.04 | -0.60 | +0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.72 | 0.06 | -0.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.09 | 0.26 | -0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.20 | 0.33 | -0.52 |
Drawdowns
TDOC vs. HQY - Drawdown Comparison
The maximum TDOC drawdown since its inception was -98.48%, which is greater than HQY's maximum drawdown of -60.65%. Use the drawdown chart below to compare losses from any high point for TDOC and HQY.
Loading charts...
Drawdown Indicators
| TDOC | HQY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.48% | -60.65% | -37.83% |
Max Drawdown (1Y)Largest decline over 1 year | -52.75% | -34.14% | -18.61% |
Max Drawdown (3Y)Largest decline over 3 years | -84.98% | -36.07% | -48.91% |
Max Drawdown (5Y)Largest decline over 5 years | -97.39% | -52.81% | -44.58% |
Max Drawdown (10Y)Largest decline over 10 years | -98.48% | -60.65% | -37.83% |
Current DrawdownCurrent decline from peak | -97.60% | -23.29% | -74.31% |
Average DrawdownAverage peak-to-trough decline | -54.19% | -22.98% | -31.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.72% | 20.32% | +7.40% |
Volatility
TDOC vs. HQY - Volatility Comparison
Teladoc Health, Inc. (TDOC) has a higher volatility of 19.39% compared to HealthEquity, Inc. (HQY) at 10.84%. This indicates that TDOC's price experiences larger fluctuations and is considered to be riskier than HQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TDOC | HQY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.39% | 10.84% | +8.55% |
Volatility (6M)Calculated over the trailing 6-month period | 39.18% | 26.67% | +12.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.60% | 35.39% | +23.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.70% | 39.79% | +23.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.39% | 44.49% | +15.90% |
Dividends
TDOC vs. HQY - Dividend Comparison
Neither TDOC nor HQY has paid dividends to shareholders.
Financials
TDOC vs. HQY - Financials Comparison
This section allows you to compare key financial metrics between Teladoc Health, Inc. and HealthEquity, Inc.. 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
TDOC vs. HQY - Profitability Comparison
TDOC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Teladoc Health, Inc. reported a gross profit of 416.32M and revenue of 613.85M. Therefore, the gross margin over that period was 67.8%.
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%.
TDOC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Teladoc Health, Inc. reported an operating income of -61.77M and revenue of 613.85M, resulting in an operating margin of -10.1%.
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%.
TDOC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Teladoc Health, Inc. reported a net income of -63.84M and revenue of 613.85M, resulting in a net margin of -10.4%.
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%.
Frequently Asked Questions
TDOC and HQY have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TDOC has higher volatility (19.39%) compared to HQY (10.84%). In terms of maximum drawdown, TDOC dropped -98.48% vs HQY's -60.65%.
TDOC currently has the higher Sharpe Ratio (-0.04 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.
Find the right allocation for TDOC and HQY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer