ALOT vs CNC: Correlation
Measured on weekly returns over the past three years, AstroNova, Inc. (ALOT) and Centene Corporation (CNC) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALOT and CNC?
Across a 3-year window, the weekly returns of ALOT and CNC correlate at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.16 lands near the 3-year figure. Stretching to 5 years gives -0.17, with an annualized covariance of -587.9 %².
Within ALOT's tracked universe of 20 assets, CNC comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ALOT ahead by 40.0 points (+166.5% versus +126.5%).
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.
ALOT vs CNC: side by side
| ALOT (AstroNova, Inc.) | CNC (Centene Corporation) | |
|---|---|---|
| 1-year return | +166.5% | +126.5% |
| 5-year return | +89.7% | +3.3% |
| Volatility (ann.) | 57.8% | 45.4% |
| Beta vs S&P 500 | 0.80 | 0.36 |
| Max drawdown (3Y) | -61.3% | -68.6% |
| Market cap | $0.2B | $32.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ALOT | CNC |
|---|---|---|
| 2022 | -5.0% | -0.5% |
| 2023 | +26.8% | -9.5% |
| 2024 | -26.1% | -18.4% |
| 2025 | -28.0% | -32.1% |
| 2026 | +235.1% | +58.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALOT and CNC good diversifiers for each other?
Yes. With a correlation of -0.22, ALOT and CNC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALOT and CNC?
The ALOT/CNC correlation stands at -0.22 on a 3-year window (1 year: -0.16, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is CNC a good diversifier for ALOT?
Yes. With a correlation of -0.22, ALOT and CNC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alot-vs-cnc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alot-vs-cnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALOT correlations · CNC correlations
