ALHC vs PSX: Correlation
How closely do Alignment Healthcare, Inc. (ALHC) and Phillips 66 (PSX) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALHC and PSX?
Over the past 3 years, ALHC and PSX moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.28) runs below the 3-year figure (-0.18). Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -349.5 %².
Among the 15 assets we track against ALHC, PSX sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with PSX ahead by 102.2 points (-16.0% versus +86.2%). Risk is not evenly split, since ALHC carries 1.8 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.
ALHC vs PSX: side by side
| ALHC (Alignment Healthcare, Inc.) | PSX (Phillips 66) | |
|---|---|---|
| 1-year return | -16.0% | +86.2% |
| 5-year return | -25.5% | +301.8% |
| Volatility (ann.) | 59.1% | 33.4% |
| Beta vs S&P 500 | 0.29 | 0.58 |
| Max drawdown (3Y) | -50.3% | -44.4% |
| Market cap | $2.8B | $96.1B |
| P/E (trailing) | 75.3 | 13.8 |
| Dividend yield | 0.00% | 2.04% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | ALHC | PSX |
|---|---|---|
| 2022 | -16.4% | +49.6% |
| 2023 | -26.8% | +33.1% |
| 2024 | +30.7% | -11.6% |
| 2025 | +75.6% | +17.5% |
| 2026 | -31.3% | +89.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALHC and PSX good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALHC and PSX?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.28 over the last year and -0.09 over 5 years.
Is PSX a good diversifier for ALHC?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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-psx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alhc-vs-psx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALHC correlations · PSX correlations
