ALHC vs NTNX: Correlation
How closely do Alignment Healthcare, Inc. (ALHC) and Nutanix, Inc. (NTNX) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALHC and NTNX?
On 3 years of weekly data the ALHC/NTNX correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.24). The 5-year figure is -0.05, and annualized covariance runs at -642.5 %².
Among the 15 assets we track against ALHC, NTNX sits near the bottom by co-movement, at rank #13. The last year tells two different stories: NTNX led by 16.3 percentage points, -16.0% for ALHC against +0.3% for NTNX.
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 NTNX: side by side
| ALHC (Alignment Healthcare, Inc.) | NTNX (Nutanix, Inc.) | |
|---|---|---|
| 1-year return | -16.0% | +0.3% |
| 5-year return | -25.5% | +90.4% |
| Volatility (ann.) | 59.1% | 45.6% |
| Beta vs S&P 500 | 0.29 | 1.28 |
| Max drawdown (3Y) | -50.3% | -58.6% |
| Market cap | $2.8B | $18.9B |
| P/E (trailing) | 75.3 | 12.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALHC | NTNX |
|---|---|---|
| 2022 | -16.4% | -18.2% |
| 2023 | -26.8% | +83.1% |
| 2024 | +30.7% | +28.3% |
| 2025 | +75.6% | -15.5% |
| 2026 | -31.3% | +35.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALHC and NTNX good diversifiers for each other?
Yes. With a correlation of -0.24, ALHC and NTNX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALHC and NTNX?
The ALHC/NTNX correlation stands at -0.24 on a 3-year window (1 year: -0.38, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is NTNX a good diversifier for ALHC?
Yes. With a correlation of -0.24, ALHC and NTNX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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-ntnx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alhc-vs-ntnx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALHC correlations · NTNX correlations
