THC vs. SPXC
THC (Tenet Healthcare Corporation) and SPXC (SPX Corporation) are both stocks. THC operates in Medical Care Facilities (Healthcare), while SPXC operates in Specialty Industrial Machinery (Industrials). Over the past 10 years, THC returned 20.25%/yr vs 31.53%/yr for SPXC. At a 0.25 correlation, their price movements are largely independent.
Performance
THC vs. SPXC - Performance Comparison
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Returns By Period
In the year-to-date period, THC achieves a -12.11% return, which is significantly lower than SPXC's 14.99% return. Over the past 10 years, THC has underperformed SPXC with an annualized return of 20.25%, while SPXC has yielded a comparatively higher 31.53% annualized return.
THC
- 1D
- 0.86%
- 1M
- -12.03%
- YTD
- -12.11%
- 6M
- -12.41%
- 1Y
- 6.26%
- 3Y*
- 32.22%
- 5Y*
- 20.49%
- 10Y*
- 20.25%
SPXC
- 1D
- -1.47%
- 1M
- 13.05%
- YTD
- 14.99%
- 6M
- 4.60%
- 1Y
- 48.95%
- 3Y*
- 39.38%
- 5Y*
- 31.04%
- 10Y*
- 31.53%
THC vs. SPXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
THC Tenet Healthcare Corporation | -12.11% | 57.43% | 67.04% | 54.89% | -40.27% | 104.58% | 5.00% | 121.88% | 13.06% | 2.16% |
SPXC SPX Corporation | 14.99% | 37.48% | 44.06% | 53.86% | 10.00% | 9.42% | 7.19% | 81.65% | -10.77% | 32.34% |
Correlation
The correlation between THC and SPXC is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 1985 | 0.25 |
The correlation between THC and SPXC shifts across timeframes, from 0.20 (1 year) to 0.36 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
THC:
$15.30B
SPXC:
$11.62B
THC:
$21.43
SPXC:
$5.19
THC:
8.15
SPXC:
44.34
THC:
0.08
SPXC:
0.01
THC:
0.72
SPXC:
4.78
THC:
3.18
SPXC:
5.09
THC:
$21.46B
SPXC:
$2.35B
THC:
$12.91B
SPXC:
$909.30M
THC:
$4.00B
SPXC:
$475.30M
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Return for Risk
THC vs. SPXC — Risk / Return Rank
THC
SPXC
THC vs. SPXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tenet Healthcare Corporation (THC) and SPX Corporation (SPXC). 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.
| THC | SPXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.23 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 1.95 | -1.79 |
| Martin ratioReturn relative to average drawdown | 0.41 | 4.99 | -4.57 |
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Drawdowns
THC vs. SPXC - Drawdown Comparison
The maximum THC drawdown since its inception was -98.28%, which is greater than SPXC's maximum drawdown of -81.12%. Use the drawdown chart below to compare losses from any high point for THC and SPXC.
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Drawdown Indicators
| THC | SPXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.28% | -81.12% | -17.16% |
Max Drawdown (1Y)Largest decline over 1 year | -34.08% | -23.15% | -10.93% |
Max Drawdown (3Y)Largest decline over 3 years | -36.90% | -33.54% | -3.36% |
Max Drawdown (5Y)Largest decline over 5 years | -58.88% | -38.32% | -20.56% |
Max Drawdown (10Y)Largest decline over 10 years | -71.68% | -50.26% | -21.42% |
Current DrawdownCurrent decline from peak | -28.65% | -5.34% | -23.31% |
Average DrawdownAverage peak-to-trough decline | -51.54% | -29.01% | -22.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.32% | 9.04% | +4.28% |
Volatility
THC vs. SPXC - Volatility Comparison
Tenet Healthcare Corporation (THC) and SPX Corporation (SPXC) have volatilities of 11.64% and 11.30%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| THC | SPXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.64% | 11.30% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 28.04% | 28.00% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.91% | 36.72% | +2.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.34% | 35.14% | +9.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.28% | 37.46% | +18.82% |
Dividends
THC vs. SPXC - Dividend Comparison
Neither THC nor SPXC has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPXC SPX Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 386.22% |
THC Tenet Healthcare Corporation | 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
THC vs. SPXC - Financials Comparison
This section allows you to compare key financial metrics between Tenet Healthcare Corporation and SPX Corporation. 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
THC vs. SPXC - Profitability Comparison
THC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Tenet Healthcare Corporation reported a gross profit of 3.19B and revenue of 5.37B. Therefore, the gross margin over that period was 59.5%.
SPXC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, SPX Corporation reported a gross profit of 230.60M and revenue of 566.80M. Therefore, the gross margin over that period was 40.7%.
THC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Tenet Healthcare Corporation reported an operating income of 1.30B and revenue of 5.37B, resulting in an operating margin of 24.1%.
SPXC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, SPX Corporation reported an operating income of 87.70M and revenue of 566.80M, resulting in an operating margin of 15.5%.
THC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Tenet Healthcare Corporation reported a net income of 906.00M and revenue of 5.37B, resulting in a net margin of 16.9%.
SPXC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, SPX Corporation reported a net income of 59.90M and revenue of 566.80M, resulting in a net margin of 10.6%.
Frequently Asked Questions
THC and SPXC have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
THC has higher volatility (11.64%) compared to SPXC (11.30%). In terms of maximum drawdown, THC dropped -98.28% vs SPXC's -81.12%.
SPXC currently has the higher Sharpe Ratio (1.23 vs 0.14), 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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