SIC 8062 Services-General Medical & Surgical Hospitals, NEC

Tenet Healthcare Corporation vs Universal Health Services Inc.

WatchlistTHC / UHSPrices through Oct 22, 2026

Why these are rivals: #2 and #3 by market value ($21B vs $11B) with SEC SIC 8062 (Services-General Medical & Surgical Hospitals, NEC).

Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.

Co-movement: daily return correlation, 252 sessions: 0.57 (needs >= 0.60)
Mean reversion: ADF t-statistic of the spread: -0.61 (needs <= -2.873 (5% critical value))
Speed: half-life of the spread, sessions: 152.72 (needs <= 63)

Business leadership

THC is the larger business

Annual revenue reported to the SEC. Scale, not market share.

Year	THC	UHS	Larger
2025	$21.3B	$17.4B	THC
2024	$20.7B	$15.8B	THC
2023	$20.6B	$14.3B	THC
2022	$19.2B	$13.4B	THC
2021	$19.5B	$12.6B	THC
2020	$17.6B	$11.6B	THC

THC led in every year with figures for both. Market value: THC $21.4B, UHS $10.7B.

Stock leadership

THC is ahead now

Measured against the pair's own last 252 trading days.

THC leads UHS by 1.17 standard deviations: +25.7% over its usual price ratio. 0 lead switches in the last year.

Price change	3 mo	6 mo	12 mo
THC	+16.1%	+43.7%	+33.7%
UHS	+20.8%	+3.8%	-9.0%

Relationship

Not a measured twin today

Only these tests can make a pair tradable on paper.

Pass: Aligned sessions: 2521 (needs >= 254)
Fail: Co-movement: daily return correlation, 252 sessions: 0.57 (needs >= 0.60)
Fail: Mean reversion: ADF t-statistic of the spread: -0.61 (needs <= -2.873 (5% critical value))
Fail: Speed: half-life of the spread, sessions: 152.72 (needs <= 63)
Data: Both stocks current

The twins over two years

Prices side by side, and the gap between them

THC Tenet Healthcare Corporation UHS Universal Health Services Inc.Price index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).

Spread z-score: THC relative to UHS, against the 252 sessions before each day. Above 0: THC ahead; below 0: UHS ahead. Lines at +/-2 (idea) and +/-4 (stop).

Data table (504 sessions)

Date	THC index	UHS index	z	Ahead
2026-10-22	165.15	79.49	+1.17	THC ahead
2026-10-21	164.23	77.27	+1.29	THC ahead
2026-10-20	166.18	78.43	+1.29	THC ahead
2026-10-19	162.56	77.02	+1.28	THC ahead
2026-10-16	163.09	78.21	+1.23	THC ahead
2026-10-15	167.90	79.17	+1.32	THC ahead
2026-10-14	165.74	78.54	+1.31	THC ahead
2026-10-13	162.88	75.64	+1.43	THC ahead
2026-10-12	164.01	75.56	+1.48	THC ahead
2026-10-09	160.97	74.94	+1.44	THC ahead
2026-10-08	159.01	74.25	+1.44	THC ahead
2026-10-07	158.56	73.78	+1.47	THC ahead
2026-10-06	157.73	74.82	+1.38	THC ahead
2026-10-05	158.34	74.39	+1.44	THC ahead
2026-10-02	157.82	74.25	+1.45	THC ahead
2026-10-01	154.98	73.97	+1.39	THC ahead
2026-09-30	155.95	73.63	+1.46	THC ahead
2026-09-29	157.20	74.25	+1.47	THC ahead
2026-09-28	157.40	74.99	+1.43	THC ahead
2026-09-25	158.49	75.57	+1.44	THC ahead
2026-09-24	152.28	74.78	+1.30	THC ahead
2026-09-23	156.49	76.64	+1.32	THC ahead
2026-09-22	159.92	75.76	+1.51	THC ahead
2026-09-21	159.25	73.83	+1.65	THC ahead
2026-09-18	159.88	74.66	+1.62	THC ahead
2026-09-17	159.82	76.37	+1.51	THC ahead
2026-09-16	162.19	76.57	+1.60	THC ahead
2026-09-15	159.18	74.72	+1.64	THC ahead
2026-09-14	161.41	73.20	+1.85	THC ahead
2026-09-11	160.91	73.87	+1.81	THC ahead
2026-09-10	160.77	72.98	+1.89	THC ahead
2026-09-09	164.20	74.27	+1.93	THC ahead
2026-09-08	158.09	72.63	+1.87	THC ahead
2026-09-04	161.74	71.68	+2.10	THC ahead
2026-09-03	160.79	71.50	+2.11	THC ahead
2026-09-02	157.77	70.77	+2.08	THC ahead
2026-09-01	162.23	72.15	+2.16	THC ahead
2026-08-31	162.27	71.97	+2.21	THC ahead
2026-08-28	162.81	72.53	+2.21	THC ahead
2026-08-27	163.39	72.92	+2.23	THC ahead
2026-08-26	167.32	75.50	+2.20	THC ahead
2026-08-25	165.91	74.26	+2.28	THC ahead
2026-08-24	170.01	74.53	+2.45	THC ahead
2026-08-21	171.34	74.90	+2.51	THC ahead
2026-08-20	166.35	73.04	+2.52	THC ahead
2026-08-19	163.86	72.81	+2.48	THC ahead
2026-08-18	164.89	73.14	+2.54	THC ahead
2026-08-17	161.45	72.05	+2.54	THC ahead
2026-08-14	163.48	71.84	+2.69	THC ahead
2026-08-13	162.96	72.34	+2.67	THC ahead
2026-08-12	162.81	72.87	+2.66	THC ahead
2026-08-11	158.33	71.29	+2.67	THC ahead
2026-08-10	158.62	72.99	+2.56	THC ahead
2026-08-07	159.96	73.33	+2.63	THC ahead
2026-08-06	156.61	71.71	+2.69	THC ahead
2026-08-05	159.72	72.53	+2.80	THC ahead
2026-08-04	154.59	70.93	+2.78	THC ahead
2026-08-03	152.55	71.42	+2.68	THC ahead
2026-07-31	155.48	71.17	+2.91	THC ahead
2026-07-30	154.23	68.99	+3.16	THC ahead
2026-07-29	157.21	71.05	+3.15	THC ahead
2026-07-28	160.27	70.23	+3.49	THC ahead
2026-07-27	148.51	67.31	+3.30	THC ahead
2026-07-24	142.31	65.81	+3.21	THC ahead
2026-07-23	121.45	63.92	+2.13	THC ahead
2026-07-22	119.21	63.10	+2.11	THC ahead
2026-07-21	119.91	63.34	+2.15	THC ahead
2026-07-20	118.62	63.65	+2.04	THC ahead
2026-07-17	118.94	63.87	+2.06	THC ahead
2026-07-16	121.56	64.88	+2.14	THC ahead
2026-07-15	117.37	62.54	+2.18	THC ahead
2026-07-14	112.09	60.94	+2.03	THC ahead
2026-07-13	118.88	64.55	+2.06	THC ahead
2026-07-10	124.64	65.73	+2.37	THC ahead
2026-07-09	126.18	65.58	+2.55	THC ahead
2026-07-08	125.87	66.10	+2.49	THC ahead
2026-07-07	127.43	68.14	+2.35	THC ahead
2026-07-06	125.83	66.78	+2.46	THC ahead
2026-07-02	124.32	66.90	+2.36	THC ahead
2026-07-01	116.68	63.62	+2.27	THC ahead
2026-06-30	114.16	62.83	+2.21	THC ahead
2026-06-29	114.22	62.12	+2.36	THC ahead
2026-06-26	115.34	61.56	+2.59	THC ahead
2026-06-25	112.25	61.04	+2.44	THC ahead
2026-06-24	111.65	61.44	+2.35	THC ahead
2026-06-23	110.38	61.63	+2.23	THC ahead
2026-06-22	109.08	60.27	+2.38	THC ahead
2026-06-18	105.31	59.65	+2.14	THC ahead
2026-06-17	108.93	59.69	+2.54	THC ahead
2026-06-16	112.02	62.07	+2.46	THC ahead
2026-06-15	109.30	61.68	+2.29	THC ahead
2026-06-12	106.58	61.87	+2.00	THC ahead
2026-06-11	105.68	61.71	+1.96	THC ahead
2026-06-10	100.55	61.19	+1.51	THC ahead
2026-06-09	101.52	61.94	+1.49	THC ahead
2026-06-08	99.48	60.37	+1.57	THC ahead
2026-06-05	98.90	61.34	+1.33	THC ahead
2026-06-04	98.47	60.30	+1.49	THC ahead
2026-06-03	100.59	61.68	+1.48	THC ahead
2026-06-02	99.84	60.23	+1.69	THC ahead
2026-06-01	103.80	61.14	+1.98	THC ahead
2026-05-29	106.99	61.74	+2.25	THC ahead
2026-05-28	105.69	63.43	+1.81	THC ahead
2026-05-27	110.49	65.19	+2.03	THC ahead
2026-05-26	107.63	66.18	+1.56	THC ahead
2026-05-22	106.05	66.68	+1.31	THC ahead
2026-05-21	108.62	68.64	+1.26	THC ahead
2026-05-20	114.37	69.43	+1.74	THC ahead
2026-05-19	116.80	70.33	+1.85	THC ahead
2026-05-18	117.44	71.52	+1.73	THC ahead
2026-05-15	120.01	71.26	+2.04	THC ahead
2026-05-14	121.16	72.11	+2.03	THC ahead
2026-05-13	119.52	72.26	+1.86	THC ahead
2026-05-12	119.53	71.67	+1.97	THC ahead
2026-05-11	116.97	71.08	+1.83	THC ahead
2026-05-08	116.18	71.81	+1.64	THC ahead
2026-05-07	118.47	72.07	+1.84	THC ahead
2026-05-06	118.70	71.19	+2.02	THC ahead
2026-05-05	114.06	69.89	+1.79	THC ahead
2026-05-04	113.11	70.17	+1.66	THC ahead
2026-05-01	111.84	70.56	+1.47	THC ahead
2026-04-30	108.09	71.10	+0.99	THC ahead
2026-04-29	109.90	70.97	+1.20	THC ahead
2026-04-28	108.32	68.68	+1.40	THC ahead
2026-04-27	113.22	75.85	+0.79	THC ahead
2026-04-24	110.34	73.67	+0.83	THC ahead
2026-04-23	114.93	76.55	+0.86	THC ahead
2026-04-22	116.69	76.36	+1.04	THC ahead
2026-04-21	113.18	75.44	+0.85	THC ahead
2026-04-20	116.71	75.94	+1.09	THC ahead
2026-04-17	120.00	77.07	+1.22	THC ahead
2026-04-16	117.17	75.52	+1.18	THC ahead
2026-04-15	118.12	76.12	+1.18	THC ahead
2026-04-14	119.97	76.88	+1.24	THC ahead
2026-04-13	117.77	77.41	+1.00	THC ahead
2026-04-10	119.14	76.38	+1.23	THC ahead
2026-04-09	123.19	79.38	+1.19	THC ahead
2026-04-08	121.65	78.91	+1.13	THC ahead
2026-04-07	118.75	76.31	+1.22	THC ahead
2026-04-06	116.12	76.62	+0.99	THC ahead
2026-04-02	114.83	74.66	+1.12	THC ahead
2026-04-01	116.11	75.18	+1.16	THC ahead
2026-03-31	115.16	75.62	+1.05	THC ahead
2026-03-30	114.73	76.94	+0.87	THC ahead
2026-03-27	117.08	77.76	+0.96	THC ahead
2026-03-26	119.28	78.21	+1.07	THC ahead
2026-03-25	122.07	78.89	+1.20	THC ahead
2026-03-24	121.82	78.56	+1.22	THC ahead
2026-03-23	124.13	79.47	+1.28	THC ahead
2026-03-20	122.26	78.51	+1.27	THC ahead
2026-03-19	125.17	79.11	+1.40	THC ahead
2026-03-18	124.01	80.10	+1.23	THC ahead
2026-03-17	129.15	81.74	+1.41	THC ahead
2026-03-16	133.83	81.75	+1.70	THC ahead
2026-03-13	138.91	81.30	+2.07	THC ahead
2026-03-12	137.14	80.49	+2.06	THC ahead
2026-03-11	143.15	78.69	+2.62	THC ahead
2026-03-10	144.88	78.81	+2.75	THC ahead
2026-03-09	146.82	80.50	+2.72	THC ahead
2026-03-06	144.60	81.40	+2.54	THC ahead
2026-03-05	147.31	83.22	+2.54	THC ahead
2026-03-04	149.39	85.48	+2.46	THC ahead
2026-03-03	148.22	86.56	+2.31	THC ahead
2026-03-02	143.48	87.22	+1.99	THC ahead
2026-02-27	146.09	87.08	+2.18	THC ahead
2026-02-26	146.26	86.34	+2.29	THC ahead
2026-02-25	144.65	97.49	+1.18	THC ahead
2026-02-24	144.98	97.17	+1.23	THC ahead
2026-02-23	142.66	98.28	+1.01	THC ahead
2026-02-20	140.29	97.39	+0.95	THC ahead
2026-02-19	139.18	97.18	+0.91	THC ahead
2026-02-18	141.42	99.42	+0.86	THC ahead
2026-02-17	142.95	99.35	+0.96	THC ahead
2026-02-13	141.03	99.21	+0.87	THC ahead
2026-02-12	141.73	98.89	+0.95	THC ahead
2026-02-11	138.13	97.74	+0.84	THC ahead
2026-02-10	117.80	89.91	+0.23	near the usual relationship
2026-02-09	117.75	89.97	+0.22	near the usual relationship
2026-02-06	122.88	92.35	+0.36	near the usual relationship
2026-02-05	119.59	91.46	+0.23	near the usual relationship
2026-02-04	116.35	87.24	+0.39	near the usual relationship
2026-02-03	117.68	87.46	+0.47	near the usual relationship
2026-02-02	114.74	85.29	+0.47	near the usual relationship
2026-01-30	115.51	85.04	+0.55	THC ahead
2026-01-29	115.63	84.56	+0.61	THC ahead
2026-01-28	115.69	85.78	+0.51	THC ahead
2026-01-27	115.43	85.62	+0.51	THC ahead
2026-01-26	115.90	87.08	+0.42	near the usual relationship
2026-01-23	115.20	86.66	+0.41	near the usual relationship
2026-01-22	115.61	86.92	+0.42	near the usual relationship
2026-01-21	116.45	86.06	+0.56	THC ahead
2026-01-20	117.93	84.45	+0.81	THC ahead
2026-01-16	120.06	84.46	+0.96	THC ahead
2026-01-15	122.85	86.28	+0.98	THC ahead
2026-01-14	119.11	84.18	+0.94	THC ahead
2026-01-13	121.55	85.27	+1.00	THC ahead
2026-01-12	121.81	87.02	+0.87	THC ahead
2026-01-09	122.78	87.48	+0.90	THC ahead
2026-01-08	124.09	89.21	+0.83	THC ahead
2026-01-07	123.27	88.05	+0.89	THC ahead
2026-01-06	127.08	93.69	+0.66	THC ahead
2026-01-05	126.33	94.17	+0.58	THC ahead
2026-01-02	121.71	92.91	+0.41	near the usual relationship
2025-12-31	121.27	92.12	+0.45	near the usual relationship
2025-12-30	122.84	95.09	+0.32	near the usual relationship
2025-12-29	122.74	95.54	+0.29	near the usual relationship
2025-12-26	122.41	96.18	+0.22	near the usual relationship
2025-12-24	120.69	95.95	+0.14	near the usual relationship
2025-12-23	121.29	96.03	+0.18	near the usual relationship
2025-12-22	121.97	95.76	+0.24	near the usual relationship
2025-12-19	119.81	96.11	+0.09	near the usual relationship
2025-12-18	118.61	94.96	+0.11	near the usual relationship
2025-12-17	119.01	95.03	+0.13	near the usual relationship
2025-12-16	120.14	94.07	+0.28	near the usual relationship
2025-12-15	120.41	94.59	+0.26	near the usual relationship
2025-12-12	121.68	94.06	+0.38	near the usual relationship
2025-12-11	120.65	94.89	+0.26	near the usual relationship
2025-12-10	120.50	94.16	+0.31	near the usual relationship
2025-12-09	123.27	95.22	+0.40	near the usual relationship
2025-12-08	125.90	95.55	+0.53	THC ahead
2025-12-05	128.15	97.64	+0.51	THC ahead
2025-12-04	129.46	97.43	+0.60	THC ahead
2025-12-03	128.97	97.25	+0.59	THC ahead
2025-12-02	131.10	100.85	+0.46	near the usual relationship
2025-12-01	131.28	101.17	+0.45	near the usual relationship
2025-11-28	132.32	102.94	+0.39	near the usual relationship
2025-11-26	132.68	103.17	+0.40	near the usual relationship
2025-11-25	133.31	102.99	+0.45	near the usual relationship
2025-11-24	130.97	100.12	+0.53	THC ahead
2025-11-21	117.14	97.99	-0.09	near the usual relationship
2025-11-20	113.92	95.23	-0.09	near the usual relationship
2025-11-19	118.54	96.31	+0.11	near the usual relationship
2025-11-18	117.78	96.69	+0.04	near the usual relationship
2025-11-17	117.41	95.70	+0.09	near the usual relationship
2025-11-14	117.72	95.09	+0.16	near the usual relationship
2025-11-13	120.01	96.15	+0.22	near the usual relationship
2025-11-12	122.04	96.51	+0.31	near the usual relationship
2025-11-11	121.02	94.82	+0.38	near the usual relationship
2025-11-10	118.80	94.07	+0.30	near the usual relationship
2025-11-07	125.26	96.86	+0.47	near the usual relationship
2025-11-06	124.60	95.66	+0.53	THC ahead
2025-11-05	127.31	96.32	+0.63	THC ahead
2025-11-04	126.77	94.73	+0.72	THC ahead
2025-11-03	122.90	93.25	+0.62	THC ahead
2025-10-31	126.01	91.69	+0.92	THC ahead
2025-10-30	127.31	92.40	+0.94	THC ahead
2025-10-29	127.63	95.20	+0.76	THC ahead
2025-10-28	124.87	92.67	+0.80	THC ahead
2025-10-27	131.92	90.43	+1.36	THC ahead
2025-10-24	128.38	89.02	+1.29	THC ahead
2025-10-23	126.26	88.15	+1.25	THC ahead
2025-10-22	125.17	88.90	+1.14	THC ahead
2025-10-21	123.48	87.38	+1.18	THC ahead
2025-10-20	123.34	87.56	+1.16	THC ahead
2025-10-17	122.05	86.43	+1.19	THC ahead
2025-10-16	121.52	86.30	+1.18	THC ahead
2025-10-15	121.58	86.62	+1.17	THC ahead
2025-10-14	119.81	86.12	+1.12	THC ahead
2025-10-13	115.95	83.56	+1.11	THC ahead
2025-10-10	115.69	82.86	+1.16	THC ahead
2025-10-09	118.91	85.18	+1.17	THC ahead
2025-10-08	122.34	86.70	+1.25	THC ahead
2025-10-07	125.00	88.60	+1.26	THC ahead
2025-10-06	121.90	87.40	+1.19	THC ahead
2025-10-03	123.88	87.56	+1.30	THC ahead
2025-10-02	124.11	86.85	+1.38	THC ahead
2025-10-01	122.87	85.99	+1.39	THC ahead
2025-09-30	123.90	86.38	+1.43	THC ahead
2025-09-29	122.78	84.96	+1.50	THC ahead
2025-09-26	123.27	84.87	+1.55	THC ahead
2025-09-25	120.05	83.50	+1.49	THC ahead
2025-09-24	119.99	84.38	+1.43	THC ahead
2025-09-23	117.83	82.27	+1.49	THC ahead
2025-09-22	118.42	82.04	+1.56	THC ahead
2025-09-19	116.03	79.71	+1.63	THC ahead
2025-09-18	116.12	79.48	+1.68	THC ahead
2025-09-17	111.96	79.18	+1.46	THC ahead
2025-09-16	111.56	78.70	+1.49	THC ahead
2025-09-15	113.96	80.10	+1.53	THC ahead
2025-09-12	117.67	81.01	+1.69	THC ahead
2025-09-11	118.01	80.61	+1.77	THC ahead
2025-09-10	117.03	78.62	+1.91	THC ahead
2025-09-09	119.84	78.77	+2.09	THC ahead
2025-09-08	117.45	78.49	+1.99	THC ahead
2025-09-05	119.72	80.33	+1.99	THC ahead
2025-09-04	117.48	78.46	+2.05	THC ahead
2025-09-03	114.06	76.72	+2.02	THC ahead
2025-09-02	113.11	76.69	+1.98	THC ahead
2025-08-29	112.49	76.72	+1.96	THC ahead
2025-08-28	112.61	76.57	+2.01	THC ahead
2025-08-27	111.03	77.07	+1.87	THC ahead
2025-08-26	109.87	76.67	+1.85	THC ahead
2025-08-25	109.98	77.69	+1.78	THC ahead
2025-08-22	109.54	78.41	+1.69	THC ahead
2025-08-21	108.25	77.72	+1.68	THC ahead
2025-08-20	111.03	78.04	+1.87	THC ahead
2025-08-19	108.64	77.14	+1.81	THC ahead
2025-08-18	104.55	75.05	+1.74	THC ahead
2025-08-15	104.97	75.41	+1.75	THC ahead
2025-08-14	105.18	75.52	+1.78	THC ahead
2025-08-13	104.88	75.43	+1.78	THC ahead
2025-08-12	104.03	74.03	+1.89	THC ahead
2025-08-11	101.68	72.53	+1.89	THC ahead
2025-08-08	101.04	72.80	+1.83	THC ahead
2025-08-07	99.73	71.42	+1.90	THC ahead
2025-08-06	97.19	69.08	+1.99	THC ahead
2025-08-05	97.82	69.59	+2.00	THC ahead
2025-08-04	98.29	69.58	+2.07	THC ahead
2025-08-01	96.47	68.86	+2.02	THC ahead
2025-07-31	98.42	70.33	+2.04	THC ahead
2025-07-30	98.18	69.90	+2.10	THC ahead
2025-07-29	95.23	68.80	+2.00	THC ahead
2025-07-28	95.51	65.47	+2.49	THC ahead
2025-07-25	93.38	65.75	+2.29	THC ahead
2025-07-24	90.55	65.69	+2.05	THC ahead
2025-07-23	96.61	69.64	+2.14	THC ahead
2025-07-22	95.18	68.74	+2.15	THC ahead
2025-07-21	106.58	71.30	+2.90	THC ahead
2025-07-18	106.83	71.38	+2.97	THC ahead
2025-07-17	106.88	72.18	+2.93	THC ahead
2025-07-16	105.81	71.95	+2.93	THC ahead
2025-07-15	105.44	74.76	+2.57	THC ahead
2025-07-14	108.46	77.51	+2.53	THC ahead
2025-07-11	107.25	77.12	+2.51	THC ahead
2025-07-10	105.97	77.77	+2.35	THC ahead
2025-07-09	104.60	77.14	+2.33	THC ahead
2025-07-08	105.20	77.01	+2.45	THC ahead
2025-07-07	105.63	76.70	+2.57	THC ahead
2025-07-03	104.66	77.97	+2.34	THC ahead
2025-07-02	105.10	77.94	+2.42	THC ahead
2025-07-01	108.27	79.83	+2.53	THC ahead
2025-06-30	107.40	76.54	+2.96	THC ahead
2025-06-27	105.96	75.24	+3.07	THC ahead
2025-06-26	105.30	74.97	+3.11	THC ahead
2025-06-25	103.14	74.23	+3.05	THC ahead
2025-06-24	104.67	74.03	+3.34	THC ahead
2025-06-23	103.20	73.32	+3.38	THC ahead
2025-06-20	102.53	72.55	+3.52	THC ahead
2025-06-18	102.26	72.35	+3.63	THC ahead
2025-06-17	102.19	72.57	+3.69	THC ahead
2025-06-16	100.23	71.98	+3.65	THC ahead
2025-06-13	100.31	72.28	+3.71	THC ahead
2025-06-12	101.02	73.38	+3.72	THC ahead
2025-06-11	98.50	72.80	+3.57	THC ahead
2025-06-10	95.54	72.96	+3.17	THC ahead
2025-06-09	101.42	75.11	+3.74	THC ahead
2025-06-06	104.63	80.02	+3.34	THC ahead
2025-06-05	104.86	79.90	+3.49	THC ahead
2025-06-04	103.67	79.71	+3.44	THC ahead
2025-06-03	104.86	79.78	+3.72	THC ahead
2025-06-02	103.81	79.17	+3.80	THC ahead
2025-05-30	102.99	80.43	+3.49	THC ahead
2025-05-29	101.46	80.72	+3.23	THC ahead
2025-05-28	100.49	80.45	+3.20	THC ahead
2025-05-27	100.75	81.30	+3.12	THC ahead
2025-05-23	99.46	78.68	+3.60	THC ahead
2025-05-22	98.45	78.87	+3.45	THC ahead
2025-05-21	99.37	80.34	+3.35	THC ahead
2025-05-20	102.92	82.70	+3.58	THC ahead
2025-05-19	102.08	83.16	+3.38	THC ahead
2025-05-16	100.98	83.64	+3.11	THC ahead
2025-05-15	100.10	82.77	+3.22	THC ahead
2025-05-14	97.38	79.36	+3.64	THC ahead
2025-05-13	96.23	81.20	+2.93	THC ahead
2025-05-12	94.32	80.94	+2.59	THC ahead
2025-05-09	90.82	76.81	+2.98	THC ahead
2025-05-08	90.96	77.65	+2.82	THC ahead
2025-05-07	92.95	78.84	+3.04	THC ahead
2025-05-06	92.44	77.81	+3.30	THC ahead
2025-05-05	90.94	75.29	+3.83	THC ahead
2025-05-02	90.33	75.52	+3.66	THC ahead
2025-05-01	88.66	73.79	+3.72	THC ahead
2025-04-30	87.23	74.82	+2.88	THC ahead
2025-04-29	84.43	72.62	+2.77	THC ahead
2025-04-28	75.61	73.06	+0.05	near the usual relationship
2025-04-25	74.51	72.54	-0.10	near the usual relationship
2025-04-24	75.82	73.52	+0.00	near the usual relationship
2025-04-23	73.87	70.47	+0.35	near the usual relationship
2025-04-22	69.98	68.15	-0.05	near the usual relationship
2025-04-21	67.38	66.36	-0.26	near the usual relationship
2025-04-17	74.33	73.86	-0.41	near the usual relationship
2025-04-16	73.50	73.38	-0.48	near the usual relationship
2025-04-15	73.78	74.15	-0.59	UHS ahead
2025-04-14	76.23	75.56	-0.32	near the usual relationship
2025-04-11	75.54	74.12	-0.12	near the usual relationship
2025-04-10	77.82	75.31	+0.14	near the usual relationship
2025-04-09	79.98	77.35	+0.16	near the usual relationship
2025-04-08	72.93	73.22	-0.46	near the usual relationship
2025-04-07	73.06	72.54	-0.26	near the usual relationship
2025-04-04	73.44	73.74	-0.43	near the usual relationship
2025-04-03	81.08	79.74	-0.08	near the usual relationship
2025-04-02	83.71	79.77	+0.43	near the usual relationship
2025-04-01	81.41	79.36	+0.08	near the usual relationship
2025-03-31	82.08	79.39	+0.21	near the usual relationship
2025-03-28	81.25	78.67	+0.21	near the usual relationship
2025-03-27	82.04	78.81	+0.33	near the usual relationship
2025-03-26	81.19	77.94	+0.35	near the usual relationship
2025-03-25	79.81	78.55	+0.00	near the usual relationship
2025-03-24	79.02	76.72	+0.20	near the usual relationship
2025-03-21	75.18	73.58	+0.10	near the usual relationship
2025-03-20	77.10	75.51	+0.11	near the usual relationship
2025-03-19	77.96	75.24	+0.31	near the usual relationship
2025-03-18	76.48	74.51	+0.19	near the usual relationship
2025-03-17	78.11	73.77	+0.60	THC ahead
2025-03-14	74.86	70.85	+0.58	THC ahead
2025-03-13	72.93	69.29	+0.54	THC ahead
2025-03-12	73.96	70.40	+0.52	THC ahead
2025-03-11	77.15	72.89	+0.61	THC ahead
2025-03-10	76.98	73.75	+0.45	near the usual relationship
2025-03-07	77.80	72.95	+0.71	THC ahead
2025-03-06	76.55	74.12	+0.34	near the usual relationship
2025-03-05	76.90	75.09	+0.25	near the usual relationship
2025-03-04	74.86	73.22	+0.24	near the usual relationship
2025-03-03	76.01	74.28	+0.26	near the usual relationship
2025-02-28	77.25	74.05	+0.48	near the usual relationship
2025-02-27	79.62	78.62	+0.16	near the usual relationship
2025-02-26	80.40	76.11	+0.63	THC ahead
2025-02-25	82.12	79.86	+0.34	near the usual relationship
2025-02-24	80.28	76.67	+0.54	THC ahead
2025-02-21	79.09	76.07	+0.47	near the usual relationship
2025-02-20	83.75	77.82	+0.84	THC ahead
2025-02-19	82.78	77.50	+0.77	THC ahead
2025-02-18	82.33	77.34	+0.74	THC ahead
2025-02-14	81.35	76.71	+0.70	THC ahead
2025-02-13	81.51	77.24	+0.66	THC ahead
2025-02-12	77.01	75.73	+0.29	near the usual relationship
2025-02-11	84.72	78.57	+0.88	THC ahead
2025-02-10	85.10	78.32	+0.96	THC ahead
2025-02-07	85.72	79.41	+0.90	THC ahead
2025-02-06	85.31	79.62	+0.84	THC ahead
2025-02-05	88.47	81.66	+0.95	THC ahead
2025-02-04	87.70	81.40	+0.90	THC ahead
2025-02-03	88.27	80.58	+1.06	THC ahead
2025-01-31	85.98	79.67	+0.93	THC ahead
2025-01-30	87.40	79.98	+1.05	THC ahead
2025-01-29	85.05	79.09	+0.90	THC ahead
2025-01-28	85.23	79.74	+0.85	THC ahead
2025-01-27	84.76	80.82	+0.69	THC ahead
2025-01-24	82.74	78.49	+0.74	THC ahead
2025-01-23	84.39	80.24	+0.72	THC ahead
2025-01-22	82.03	79.03	+0.61	THC ahead
2025-01-21	82.03	79.77	+0.54	THC ahead
2025-01-17	79.86	78.08	+0.49	near the usual relationship
2025-01-16	81.02	77.77	+0.66	THC ahead
2025-01-15	79.35	77.57	+0.51	THC ahead
2025-01-14	77.88	77.81	+0.33	near the usual relationship
2025-01-13	78.89	78.48	+0.38	near the usual relationship
2025-01-10	78.09	77.29	+0.42	near the usual relationship
2025-01-08	79.46	80.42	+0.25	near the usual relationship
2025-01-07	78.60	78.59	+0.35	near the usual relationship
2025-01-06	76.65	76.50	+0.38	near the usual relationship
2025-01-03	74.85	75.59	+0.29	near the usual relationship
2025-01-02	76.41	75.92	+0.43	near the usual relationship
2024-12-31	77.03	75.81	+0.50	THC ahead
2024-12-30	76.54	75.37	+0.51	THC ahead
2024-12-27	78.09	76.25	+0.58	THC ahead
2024-12-26	78.08	76.53	+0.55	THC ahead
2024-12-24	79.15	76.57	+0.66	THC ahead
2024-12-23	79.11	76.36	+0.68	THC ahead
2024-12-20	79.00	76.10	+0.70	THC ahead
2024-12-19	76.71	74.28	+0.67	THC ahead
2024-12-18	77.78	75.01	+0.70	THC ahead
2024-12-17	80.89	77.15	+0.79	THC ahead
2024-12-16	81.63	77.81	+0.80	THC ahead
2024-12-13	83.43	79.18	+0.84	THC ahead
2024-12-12	82.60	78.78	+0.81	THC ahead
2024-12-11	85.49	80.58	+0.90	THC ahead
2024-12-10	84.88	81.00	+0.82	THC ahead
2024-12-09	86.05	81.48	+0.88	THC ahead
2024-12-06	84.79	82.06	+0.73	THC ahead
2024-12-05	84.76	82.84	+0.67	THC ahead
2024-12-04	86.36	84.13	+0.70	THC ahead
2024-12-03	86.21	83.80	+0.72	THC ahead
2024-12-02	86.67	84.95	+0.67	THC ahead
2024-11-29	87.07	86.62	+0.57	THC ahead
2024-11-27	86.64	85.98	+0.60	THC ahead
2024-11-26	88.88	87.08	+0.69	THC ahead
2024-11-25	87.46	84.17	+0.82	THC ahead
2024-11-22	87.65	83.64	+0.88	THC ahead
2024-11-21	90.27	83.50	+1.10	THC ahead
2024-11-20	92.66	83.46	+1.28	THC ahead
2024-11-19	93.58	83.15	+1.38	THC ahead
2024-11-18	93.64	83.64	+1.35	THC ahead
2024-11-15	94.79	85.22	+1.31	THC ahead
2024-11-14	99.26	84.93	+1.64	THC ahead
2024-11-13	99.43	85.67	+1.60	THC ahead
2024-11-12	100.21	86.72	+1.57	THC ahead
2024-11-11	101.82	88.12	+1.57	THC ahead
2024-11-08	100.82	87.67	+1.55	THC ahead
2024-11-07	102.84	88.06	+1.65	THC ahead
2024-11-06	97.86	85.99	+1.50	THC ahead
2024-11-05	101.83	89.65	+1.49	THC ahead
2024-11-04	99.09	88.24	+1.43	THC ahead
2024-11-01	95.28	86.73	+1.30	THC ahead
2024-10-31	94.60	86.33	+1.29	THC ahead
2024-10-30	96.47	87.67	+1.32	THC ahead
2024-10-29	99.32	87.01	+1.55	THC ahead
2024-10-28	85.12	86.43	+0.67	THC ahead
2024-10-25	85.29	85.67	+0.74	THC ahead
2024-10-24	92.20	94.93	+0.60	THC ahead
2024-10-23	96.19	98.94	+0.61	THC ahead
2024-10-22	95.95	98.26	+0.65	THC ahead
2024-10-21	97.47	98.71	+0.72	THC ahead
2024-10-18	100.00	100.00	+0.80	THC ahead

One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Oct 29, 2024 (THC +16.7%, UHS +0.7%); Apr 29, 2025 (THC +11.7%, UHS -0.6%); Nov 24, 2025 (THC +11.8%, UHS +2.2%); Feb 26, 2026 (THC +1.1%, UHS -11.4%); Jul 24, 2026 (THC +17.2%, UHS +3.0%). Upcoming earnings: UHS Oct 27, 2026 (after-hours); THC Oct 29, 2026 (pre-market).

Paired trades

The shared paper book and the replay, kept apart

Forward paper record

No paper position on this pair yet.

Historical simulation (a diagnostic, same rules)

No simulated trade through Oct 20, 2026: the pair rarely passed every test while 2 standard deviations apart.

Per $10,000 a leg. A replay on today's companies cannot prove an edge.

The companies

THC and UHS at a glance

THC Tenet Healthcare Corporation

Listing: NYSE · SEC CIK 70318
Industry: Hospital/Nursing Management · SIC 8062 Services-General Medical & Surgical Hospitals, NEC
Market value: $21.4B
Price history: 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026

UHS Universal Health Services Inc.

Listing: NYSE · SEC CIK 352915
Industry: Hospital/Nursing Management · SIC 8062 Services-General Medical & Surgical Hospitals, NEC
Market value: $10.7B
Price history: 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026

Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.

All pairs →

Pair	Status	Ahead now	Industry
HCA / THC	Watchlist	THC by 1.19 sd	Hospital/Nursing Management
THC / EHC	Watchlist	THC by 1.04 sd	Hospital/Nursing Management
HCA / UHS	Watchlist	HCA by 0.33 sd	SIC 8062 Services-General Medical & Surgical Hospitals, NEC

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Paper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.