ARDT vs EHC: Correlation
Measured on weekly returns over the past three years, Ardent Health, Inc. (ARDT) and Encompass Health Corporation (EHC) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDT and EHC?
On 3 years of weekly data the ARDT/EHC correlation comes out at 0.43, moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 562.4 %².
Few assets follow ARDT as closely as EHC, which ranks #1 of 22 tracked partners. On 12-month performance EHC holds a 10.9-point edge, -13.5% against -2.6%. One caveat on sizing: ARDT is 2.0 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.
ARDT vs EHC: side by side
| ARDT (Ardent Health, Inc.) | EHC (Encompass Health Corporation) | |
|---|---|---|
| 1-year return | -13.5% | -2.6% |
| 5-year return | n/a | +101.2% |
| Volatility (ann.) | 48.5% | 24.5% |
| Beta vs S&P 500 | 0.65 | 0.61 |
| Max drawdown (3Y) | -61.2% | -26.1% |
| Market cap | $1.6B | $11.8B |
| P/E (trailing) | 20.7 | 20.2 |
| Dividend yield | 0.00% | 0.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARDT | EHC |
|---|---|---|
| 2022 | – | +17.0% |
| 2023 | – | +12.6% |
| 2024 | – | +39.2% |
| 2025 | -48.3% | +15.7% |
| 2026 | +24.5% | +13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDT and EHC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ARDT and EHC?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.42 over the last year and n/a over 5 years.
Is EHC a good diversifier for ARDT?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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/ardt-vs-ehc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ardt-vs-ehc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARDT correlations · EHC correlations
