AKAN vs CNC: Correlation
How closely do Akanda Corp. (AKAN) and Centene Corporation (CNC) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AKAN and CNC?
On 3 years of weekly data the AKAN/CNC correlation comes out at 0.37, moderate. The link has tightened recently: the 1-year correlation (0.54) runs above the 3-year figure (0.37). The 5-year figure is 0.34, and annualized covariance runs at 4772.0 %².
Among the 26 assets we track against AKAN, CNC ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CNC outperformed by 221.7 percentage points (-95.2% for AKAN against +126.5% for CNC). Risk is not evenly split, since AKAN carries 6.3 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AKAN vs CNC: side by side
| AKAN (Akanda Corp.) | CNC (Centene Corporation) | |
|---|---|---|
| 1-year return | -95.2% | +126.5% |
| 5-year return | -100.0% | +3.3% |
| Volatility (ann.) | 285.6% | 45.4% |
| Beta vs S&P 500 | 2.86 | 0.36 |
| Max drawdown (3Y) | -99.9% | -68.6% |
| Market cap | – | $32.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | AKAN | CNC |
|---|---|---|
| 2022 | – | -0.5% |
| 2023 | -70.5% | -9.5% |
| 2024 | -95.5% | -18.4% |
| 2025 | -90.9% | -32.1% |
| 2026 | -58.9% | +58.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AKAN and CNC good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AKAN and CNC?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.54 over the last year and 0.34 over 5 years.
Is CNC a good diversifier for AKAN?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: AKAN correlations · CNC correlations
