ALHC vs NHI: Correlation
Alignment Healthcare, Inc. (ALHC) and National Health Investors, Inc. (NHI) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALHC and NHI?
On 3 years of weekly data the ALHC/NHI correlation comes out at 0.33, moderate. Recent behaviour matches the longer record: 0.31 over 1 year against 0.33 over 3. The 5-year figure is 0.26, and annualized covariance runs at 408.9 %².
By 3-year correlation, NHI places #4 of the 15 assets tracked against ALHC. On 12-month performance NHI holds a 13.8-point edge, -16.0% against -2.2%. Note the risk asymmetry: ALHC runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ALHC vs NHI: side by side
| ALHC (Alignment Healthcare, Inc.) | NHI (National Health Investors, Inc.) | |
|---|---|---|
| 1-year return | -16.0% | -2.2% |
| 5-year return | -25.5% | +63.1% |
| Volatility (ann.) | 59.1% | 20.8% |
| Beta vs S&P 500 | 0.29 | 0.22 |
| Max drawdown (3Y) | -50.3% | -24.1% |
| Market cap | $2.8B | $3.6B |
| P/E (trailing) | 75.3 | 21.2 |
| Dividend yield | 0.00% | 5.01% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALHC | NHI |
|---|---|---|
| 2022 | -16.4% | -3.3% |
| 2023 | -26.8% | +14.6% |
| 2024 | +30.7% | +30.7% |
| 2025 | +75.6% | +15.7% |
| 2026 | -31.3% | -2.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALHC and NHI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALHC and NHI?
As of 2026-08-27, the correlation of weekly returns between ALHC and NHI is 0.33 over 3 years, 0.31 over 1 year and 0.26 over 5 years.
Is NHI a good diversifier for ALHC?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alhc-vs-nhi.json
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[](https://www.pairbook.io/pair/alhc-vs-nhi/)
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Related comparisons
Hubs: ALHC correlations · NHI correlations
