ARDT vs GJR: Correlation
How closely do Ardent Health, Inc. (ARDT) and Synthetic Fixed-Income Securities, Inc. STRATS Trust for (GJR) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDT and GJR?
Over the past 3 years, ARDT and GJR moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -80.7 %².
GJR is close to the least connected end of ARDT's tracked universe, ranking #19 of 22. The last year tells two different stories: GJR led by 16.4 percentage points, -13.5% for ARDT against +2.9% for GJR. Note the risk asymmetry: ARDT runs 6.0 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.
ARDT vs GJR: side by side
| ARDT (Ardent Health, Inc.) | GJR (Synthetic Fixed-Income Securities, Inc. STRATS Trust for) | |
|---|---|---|
| 1-year return | -13.5% | +2.9% |
| 5-year return | n/a | +39.3% |
| Volatility (ann.) | 48.5% | 8.1% |
| Beta vs S&P 500 | 0.65 | 0.01 |
| Max drawdown (3Y) | -61.2% | -4.4% |
| Market cap | $1.6B | – |
| P/E (trailing) | 20.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARDT | GJR |
|---|---|---|
| 2022 | – | +9.2% |
| 2023 | – | +11.4% |
| 2024 | – | +3.9% |
| 2025 | -48.3% | +4.6% |
| 2026 | +24.5% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDT and GJR good diversifiers for each other?
Yes. With a correlation of -0.28, ARDT and GJR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ARDT and GJR?
The ARDT/GJR correlation stands at -0.28 on a 3-year window (1 year: -0.22, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is GJR a good diversifier for ARDT?
Yes. With a correlation of -0.28, ARDT and GJR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ardt-vs-gjr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ardt-vs-gjr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARDT correlations · GJR correlations
