AMN vs PLMR: Correlation
Measured on weekly returns over the past three years, AMN Healthcare Services Inc (AMN) and Palomar Holdings, Inc. (PLMR) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMN and PLMR?
Across a 3-year window, the weekly returns of AMN and PLMR correlate at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. Stretching to 5 years gives -0.03, with an annualized covariance of -528.6 %².
Out of 10 assets tracked against AMN, PLMR lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months AMN outperformed by 69.4 percentage points (+74.4% for AMN against +5.0% for PLMR). One caveat on sizing: AMN is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AMN vs PLMR: side by side
| AMN (AMN Healthcare Services Inc) | PLMR (Palomar Holdings, Inc.) | |
|---|---|---|
| 1-year return | +74.4% | +5.0% |
| 5-year return | -68.4% | +44.4% |
| Volatility (ann.) | 57.2% | 35.9% |
| Beta vs S&P 500 | 0.53 | 0.34 |
| Max drawdown (3Y) | -83.2% | -42.3% |
| Market cap | $1.4B | $3.4B |
| P/E (trailing) | 12.7 | 17.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMN | PLMR |
|---|---|---|
| 2022 | -15.9% | -30.3% |
| 2023 | -27.2% | +22.9% |
| 2024 | -68.1% | +90.3% |
| 2025 | -34.1% | +27.6% |
| 2026 | +122.6% | -3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMN and PLMR good diversifiers for each other?
Yes. With a correlation of -0.26, AMN and PLMR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AMN and PLMR?
The AMN/PLMR correlation stands at -0.26 on a 3-year window (1 year: -0.20, 5 years: -0.03), computed from weekly returns as of 2026-08-27.
Is PLMR a good diversifier for AMN?
Yes. With a correlation of -0.26, AMN and PLMR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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.
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Related comparisons
Hubs: AMN correlations · PLMR correlations
