ARDT vs SGRY: Correlation
Ardent Health, Inc. (ARDT) and Surgery Partners, Inc. (SGRY) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDT and SGRY?
Over the past 3 years, ARDT and SGRY moved with a correlation of 0.42, which is moderate. The link has tightened recently: the 1-year correlation (0.70) runs above the 3-year figure (0.42). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1051.1 %².
In ARDT's tracked universe of 22 assets, SGRY sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months ARDT outperformed by 25.5 percentage points (-13.5% for ARDT against -39.0% for SGRY).
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 SGRY: side by side
| ARDT (Ardent Health, Inc.) | SGRY (Surgery Partners, Inc.) | |
|---|---|---|
| 1-year return | -13.5% | -39.0% |
| 5-year return | n/a | -71.6% |
| Volatility (ann.) | 48.5% | 51.2% |
| Beta vs S&P 500 | 0.65 | 1.30 |
| Max drawdown (3Y) | -61.2% | -69.3% |
| Market cap | $1.6B | $1.8B |
| P/E (trailing) | 20.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARDT | SGRY |
|---|---|---|
| 2022 | – | -47.8% |
| 2023 | – | +14.8% |
| 2024 | – | -33.8% |
| 2025 | -48.3% | -27.0% |
| 2026 | +24.5% | -9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDT and SGRY good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARDT and SGRY?
The ARDT/SGRY correlation stands at 0.42 on a 3-year window (1 year: 0.70, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SGRY a good diversifier for ARDT?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 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-sgry.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ardt-vs-sgry/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARDT correlations · SGRY correlations
