ASTH vs KELYA: Correlation
Measured on weekly returns over the past three years, Astrana Health Inc. (ASTH) and Kelly Services, Inc. (KELYA) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTH and KELYA?
On 3 years of weekly data the ASTH/KELYA correlation comes out at 0.45, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.32 versus 0.45 over 3 years. The 5-year figure is 0.34, and annualized covariance runs at 957.1 %².
Among the 15 assets we track against ASTH, KELYA ranks #4 by 3-year correlation. Their 12-month results are close: +23.1% for ASTH against +24.2% for KELYA. Note the risk asymmetry: ASTH runs 1.5 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.
ASTH vs KELYA: side by side
| ASTH (Astrana Health Inc.) | KELYA (Kelly Services, Inc.) | |
|---|---|---|
| 1-year return | +23.1% | +24.2% |
| 5-year return | -46.1% | -5.4% |
| Volatility (ann.) | 56.8% | 37.3% |
| Beta vs S&P 500 | 1.15 | 0.73 |
| Max drawdown (3Y) | -71.0% | -66.5% |
| Market cap | $1.9B | $0.6B |
| P/E (trailing) | 47.4 | – |
| Dividend yield | 0.00% | 1.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASTH | KELYA |
|---|---|---|
| 2022 | -59.7% | +2.3% |
| 2023 | +29.4% | +30.0% |
| 2024 | -17.7% | -34.5% |
| 2025 | -21.3% | -35.2% |
| 2026 | +54.8% | +98.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTH and KELYA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ASTH and KELYA?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.32 over the last year and 0.34 over 5 years.
Is KELYA a good diversifier for ASTH?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/asth-vs-kelya.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asth-vs-kelya/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASTH correlations · KELYA correlations
