THC vs. ^SP500TR

Last updated Jun 5, 2026

THC (Tenet Healthcare Corporation) is a stock, while ^SP500TR (S&P 500 Total Return) is an index. Over the past 10 years, THC returned 18.46%/yr vs 15.58%/yr for ^SP500TR. At a 0.38 correlation, their price movements are largely independent.

Performance

THC vs. ^SP500TR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tenet Healthcare Corporation (THC) and S&P 500 Total Return (^SP500TR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THC achieves a -18.80% return, which is significantly lower than ^SP500TR's 11.36% return. Over the past 10 years, THC has outperformed ^SP500TR with an annualized return of 18.46%, while ^SP500TR has yielded a comparatively lower 15.58% annualized return.

THC

• 1D: -2.11%
• 1M: -13.66%
• YTD: -18.80%
• 6M: -23.93%
• 1Y: -5.02%
• 3Y*: 29.72%
• 5Y*: 18.96%
• 10Y*: 18.46%

^SP500TR

• 1D: 0.42%
• 1M: 4.61%
• YTD: 11.36%
• 6M: 11.27%
• 1Y: 28.58%
• 3Y*: 22.72%
• 5Y*: 14.02%
• 10Y*: 15.58%

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

THC vs. ^SP500TR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
THC Tenet Healthcare Corporation	-18.80%	57.43%	67.04%	54.89%	-40.27%	104.58%	5.00%	121.88%	13.06%	2.16%
^SP500TR S&P 500 Total Return	11.36%	17.88%	25.02%	26.29%	-18.11%	28.71%	18.40%	31.49%	-4.38%	21.83%

Correlation

The correlation between THC and ^SP500TR is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jan 5, 1988	0.38

The correlation between THC and ^SP500TR shifts across timeframes, from 0.19 (1 year) to 0.47 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

THC vs. ^SP500TR — Risk / Return Rank

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

THC

THC Risk / Return Rank: 34
THC Sharpe Ratio Rank: 36
THC Sortino Ratio Rank: 33
THC Omega Ratio Rank: 33
THC Calmar Ratio Rank: 37
THC Martin Ratio Rank: 34

^SP500TR

^SP500TR Risk / Return Rank: 84
^SP500TR Sharpe Ratio Rank: 83
^SP500TR Sortino Ratio Rank: 85
^SP500TR Omega Ratio Rank: 83
^SP500TR Calmar Ratio Rank: 80
^SP500TR Martin Ratio Rank: 90

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.

THC vs. ^SP500TR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tenet Healthcare Corporation (THC) and S&P 500 Total Return (^SP500TR). 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.

	THC	^SP500TR	Difference
Sharpe ratio: Return per unit of total volatility	-0.13	2.42	-2.55
Sortino ratio: Return per unit of downside risk	0.09	3.30	-3.20
Omega ratio: Gain probability vs. loss probability	1.01	1.44	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.15	3.23	-3.38
Martin ratio: Return relative to average drawdown	-0.40	15.09	-15.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THC vs. ^SP500TR - Sharpe Ratio Comparison

The current THC Sharpe Ratio is -0.13, which is lower than the ^SP500TR Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of THC and ^SP500TR, 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

	THC	^SP500TR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.13	2.42	-2.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.83	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.87	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.65	-0.54

Drawdowns

THC vs. ^SP500TR - Drawdown Comparison

The maximum THC drawdown since its inception was -98.28%, which is greater than ^SP500TR's maximum drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for THC and ^SP500TR.

Drawdown Indicators

	THC	^SP500TR	Difference
Max Drawdown Largest peak-to-trough decline	-98.28%	-55.25%	-43.03%
Max Drawdown (1Y) Largest decline over 1 year	-34.08%	-8.89%	-25.19%
Max Drawdown (3Y) Largest decline over 3 years	-36.90%	-18.75%	-18.15%
Max Drawdown (5Y) Largest decline over 5 years	-58.88%	-24.49%	-34.39%
Max Drawdown (10Y) Largest decline over 10 years	-71.68%	-33.79%	-37.89%
Current Drawdown Current decline from peak	-34.08%	-0.32%	-33.76%
Average Drawdown Average peak-to-trough decline	-51.56%	-8.16%	-43.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.42%	1.90%	+10.52%

Volatility

THC vs. ^SP500TR - Volatility Comparison

Tenet Healthcare Corporation (THC) has a higher volatility of 11.17% compared to S&P 500 Total Return (^SP500TR) at 2.87%. This indicates that THC's price experiences larger fluctuations and is considered to be riskier than ^SP500TR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THC	^SP500TR	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.17%	2.87%	+8.30%
Volatility (6M) Calculated over the trailing 6-month period	27.68%	9.00%	+18.68%
Volatility (1Y) Calculated over the trailing 1-year period	39.22%	11.88%	+27.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.29%	16.90%	+27.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.29%	18.06%	+38.23%

Frequently Asked Questions

Can I hold both THC and ^SP500TR in my portfolio?

THC and ^SP500TR have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THC or ^SP500TR?

THC has higher volatility (11.17%) compared to ^SP500TR (2.87%). In terms of maximum drawdown, THC dropped -98.28% vs ^SP500TR's -55.25%.

Which has better risk-adjusted returns?

^SP500TR currently has the higher Sharpe Ratio (2.42 vs -0.13), 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.