THC vs. USPH
THC (Tenet Healthcare Corporation) and USPH (U.S. Physical Therapy, Inc.) are both stocks. Both operate in the Medical Care Facilities industry within the Healthcare sector. Over the past 10 years, THC returned 20.51%/yr vs 2.19%/yr for USPH. At a 0.23 correlation, their price movements are largely independent.
Performance
THC vs. USPH - Performance Comparison
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Returns By Period
In the year-to-date period, THC achieves a -8.98% return, which is significantly higher than USPH's -17.60% return. Over the past 10 years, THC has outperformed USPH with an annualized return of 20.51%, while USPH has yielded a comparatively lower 2.19% annualized return.
THC
- 1D
- 1.19%
- 1M
- 4.09%
- YTD
- -8.98%
- 6M
- -9.00%
- 1Y
- 6.95%
- 3Y*
- 32.25%
- 5Y*
- 21.30%
- 10Y*
- 20.51%
USPH
- 1D
- 1.58%
- 1M
- 2.49%
- YTD
- -17.60%
- 6M
- -19.56%
- 1Y
- -13.93%
- 3Y*
- -15.85%
- 5Y*
- -9.71%
- 10Y*
- 2.19%
THC vs. USPH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
THC Tenet Healthcare Corporation | -8.98% | 57.43% | 67.04% | 54.89% | -40.27% | 104.58% | 5.00% | 121.88% | 13.06% | 2.16% |
USPH U.S. Physical Therapy, Inc. | -17.60% | -9.88% | -2.97% | 16.98% | -13.67% | -19.48% | 5.52% | 12.81% | 43.09% | 4.14% |
Correlation
The correlation between THC and USPH is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since May 29, 1992 | 0.23 |
The correlation between THC and USPH shifts across timeframes, from 0.23 (all time) to 0.42 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
THC:
$15.84B
USPH:
$963.10M
THC:
$21.43
USPH:
$0.69
THC:
8.44
USPH:
91.41
THC:
0.75
USPH:
1.39
THC:
3.29
USPH:
2.05
THC:
$21.46B
USPH:
$695.26M
THC:
$12.91B
USPH:
$153.11M
THC:
$4.00B
USPH:
$94.50M
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Return for Risk
THC vs. USPH — Risk / Return Rank
THC
USPH
THC vs. USPH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tenet Healthcare Corporation (THC) and U.S. Physical Therapy, Inc. (USPH). 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 | USPH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.97 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.20 | -0.39 | +0.59 |
| Martin ratioReturn relative to average drawdown | 0.50 | -0.85 | +1.35 |
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Drawdowns
THC vs. USPH - Drawdown Comparison
The maximum THC drawdown since its inception was -98.28%, which is greater than USPH's maximum drawdown of -67.21%. Use the drawdown chart below to compare losses from any high point for THC and USPH.
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Drawdown Indicators
| THC | USPH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.28% | -67.21% | -31.07% |
Max Drawdown (1Y)Largest decline over 1 year | -34.08% | -35.89% | +1.81% |
Max Drawdown (3Y)Largest decline over 3 years | -36.90% | -49.25% | +12.35% |
Max Drawdown (5Y)Largest decline over 5 years | -58.88% | -51.14% | -7.74% |
Max Drawdown (10Y)Largest decline over 10 years | -71.68% | -67.21% | -4.47% |
Current DrawdownCurrent decline from peak | -26.11% | -51.78% | +25.67% |
Average DrawdownAverage peak-to-trough decline | -51.53% | -24.04% | -27.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.95% | 16.33% | -2.38% |
Volatility
THC vs. USPH - Volatility Comparison
Tenet Healthcare Corporation (THC) has a higher volatility of 12.20% compared to U.S. Physical Therapy, Inc. (USPH) at 10.27%. This indicates that THC's price experiences larger fluctuations and is considered to be riskier than USPH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| THC | USPH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.20% | 10.27% | +1.93% |
Volatility (6M)Calculated over the trailing 6-month period | 28.80% | 31.68% | -2.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.35% | 41.26% | -1.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.38% | 36.69% | +7.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.31% | 39.66% | +16.65% |
Dividends
THC vs. USPH - Dividend Comparison
THC has not paid dividends to shareholders, while USPH's dividend yield for the trailing twelve months is around 2.87%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
USPH U.S. Physical Therapy, Inc. | 2.87% | 2.31% | 1.98% | 1.85% | 2.02% | 1.53% | 0.27% | 1.00% | 0.90% | 1.11% | 0.97% | 1.12% |
Financials
THC vs. USPH - Financials Comparison
This section allows you to compare key financial metrics between Tenet Healthcare Corporation and U.S. Physical Therapy, 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
THC vs. USPH - 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%.
USPH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, U.S. Physical Therapy, Inc. reported a gross profit of 32.75M and revenue of 164.33M. Therefore, the gross margin over that period was 19.9%.
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%.
USPH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, U.S. Physical Therapy, Inc. reported an operating income of 12.48M and revenue of 164.33M, resulting in an operating margin of 7.6%.
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%.
USPH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, U.S. Physical Therapy, Inc. reported a net income of 5.04M and revenue of 164.33M, resulting in a net margin of 3.1%.
Frequently Asked Questions
THC and USPH have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
THC has higher volatility (12.20%) compared to USPH (10.27%). In terms of maximum drawdown, THC dropped -98.28% vs USPH's -67.21%.
THC currently has the higher Sharpe Ratio (0.18 vs -0.34), 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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