ARDT vs BTE: Correlation
Ardent Health, Inc. (ARDT) and Baytex Energy Corp (BTE) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDT and BTE?
Over the past 3 years, ARDT and BTE moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.52) runs below the 3-year figure (-0.27). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -609.7 %².
Within ARDT's tracked universe of 22 assets, BTE comes in at #17 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BTE outperformed by 136.3 percentage points (-13.5% for ARDT against +122.8% for BTE).
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.
ARDT vs BTE: side by side
| ARDT (Ardent Health, Inc.) | BTE (Baytex Energy Corp) | |
|---|---|---|
| 1-year return | -13.5% | +122.8% |
| 5-year return | n/a | +194.4% |
| Volatility (ann.) | 48.5% | 45.7% |
| Beta vs S&P 500 | 0.65 | 0.38 |
| Max drawdown (3Y) | -61.2% | -66.7% |
| Market cap | $1.6B | $3.4B |
| P/E (trailing) | 20.7 | – |
| Dividend yield | 0.00% | 1.92% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARDT | BTE |
|---|---|---|
| 2022 | – | +46.0% |
| 2023 | – | -25.7% |
| 2024 | – | -20.6% |
| 2025 | -48.3% | +27.3% |
| 2026 | +24.5% | +50.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDT and BTE good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ARDT and BTE?
As of 2026-08-27, the correlation of weekly returns between ARDT and BTE is -0.27 over 3 years, -0.52 over 1 year and n/a over 5 years.
Is BTE a good diversifier for ARDT?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 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/ardt-vs-bte.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ardt-vs-bte/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARDT correlations · BTE correlations
