AMBO vs PENN: Correlation
Ambow Education Holding Ltd. American Depository Shares (AMBO) and PENN Entertainment, Inc. (PENN) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMBO and PENN?
On 3 years of weekly data the AMBO/PENN correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. The 5-year figure is -0.13, and annualized covariance runs at -1436.6 %².
PENN is close to the least connected end of AMBO's tracked universe, ranking #9 of 11. Their recent paths diverged sharply: over the last 12 months PENN outperformed by 29.4 percentage points (-42.4% for AMBO against -13.0% for PENN). Note the risk asymmetry: AMBO runs 3.1 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.
AMBO vs PENN: side by side
| AMBO (Ambow Education Holding Ltd. American Depository Shares) | PENN (PENN Entertainment, Inc.) | |
|---|---|---|
| 1-year return | -42.4% | -13.0% |
| 5-year return | -86.6% | -78.7% |
| Volatility (ann.) | 146.2% | 47.0% |
| Beta vs S&P 500 | -0.00 | 1.50 |
| Max drawdown (3Y) | -73.6% | -55.8% |
| Market cap | – | $2.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMBO | PENN |
|---|---|---|
| 2022 | -67.0% | -42.7% |
| 2023 | -54.8% | -12.4% |
| 2024 | +52.2% | -23.8% |
| 2025 | +31.4% | -25.6% |
| 2026 | -24.3% | +17.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMBO and PENN good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMBO and PENN?
The AMBO/PENN correlation stands at -0.21 on a 3-year window (1 year: -0.25, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is PENN a good diversifier for AMBO?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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/ambo-vs-penn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ambo-vs-penn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMBO correlations · PENN correlations
