ARDT vs THC: Correlation
How closely do Ardent Health, Inc. (ARDT) and Tenet Healthcare Corporation (THC) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDT and THC?
On 3 years of weekly data the ARDT/THC correlation comes out at 0.38, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.51 versus 0.38 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 818.2 %².
Among the 22 assets we track against ARDT, THC ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months THC outperformed by 60.7 percentage points (-13.5% for ARDT against +47.2% for THC).
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 THC: side by side
| ARDT (Ardent Health, Inc.) | THC (Tenet Healthcare Corporation) | |
|---|---|---|
| 1-year return | -13.5% | +47.2% |
| 5-year return | n/a | +254.8% |
| Volatility (ann.) | 48.5% | 43.5% |
| Beta vs S&P 500 | 0.65 | 1.01 |
| Max drawdown (3Y) | -61.2% | -34.5% |
| Market cap | $1.6B | $21.6B |
| P/E (trailing) | 20.7 | 10.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARDT | THC |
|---|---|---|
| 2022 | – | -40.3% |
| 2023 | – | +54.9% |
| 2024 | – | +67.0% |
| 2025 | -48.3% | +57.4% |
| 2026 | +24.5% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDT and THC good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARDT and THC?
The ARDT/THC correlation stands at 0.38 on a 3-year window (1 year: 0.51, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is THC a good diversifier for ARDT?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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-thc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ardt-vs-thc/)
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Related comparisons
Hubs: ARDT correlations · THC correlations
