ARDT vs HCA: Correlation
Ardent Health, Inc. (ARDT) and HCA Healthcare (HCA) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDT and HCA?
Across a 3-year window, the weekly returns of ARDT and HCA correlate at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 527.7 %².
Among the 22 assets we track against ARDT, HCA ranks #5 by 3-year correlation. The last year tells two different stories: HCA led by 17.7 percentage points, -13.5% for ARDT against +4.2% for HCA. Note the risk asymmetry: ARDT runs 1.8 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 HCA: side by side
| ARDT (Ardent Health, Inc.) | HCA (HCA Healthcare) | |
|---|---|---|
| 1-year return | -13.5% | +4.2% |
| 5-year return | n/a | +72.5% |
| Volatility (ann.) | 48.5% | 26.9% |
| Beta vs S&P 500 | 0.65 | 0.42 |
| Max drawdown (3Y) | -61.2% | -33.6% |
| Market cap | $1.6B | $90.8B |
| P/E (trailing) | 20.7 | 14.1 |
| Dividend yield | 0.00% | 0.70% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ARDT | HCA |
|---|---|---|
| 2022 | – | -5.6% |
| 2023 | – | +13.8% |
| 2024 | – | +11.8% |
| 2025 | -48.3% | +56.7% |
| 2026 | +24.5% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDT and HCA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ARDT and HCA?
As of 2026-08-27, the correlation of weekly returns between ARDT and HCA is 0.38 over 3 years, 0.38 over 1 year and n/a over 5 years.
Is HCA a good diversifier for ARDT?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 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.
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Related comparisons
Hubs: ARDT correlations · HCA correlations
