ASTH vs MCK: Correlation
Astrana Health Inc. (ASTH) and McKesson Corporation (MCK) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTH and MCK?
On 3 years of weekly data the ASTH/MCK correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.21 over 3. The 5-year figure is -0.07, and annualized covariance runs at -297.1 %².
Out of 15 assets tracked against ASTH, MCK lands near the bottom at #13. On 12-month performance MCK holds a 7.7-point edge, +23.1% against +30.8%. Note the risk asymmetry: ASTH runs 2.3 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 MCK: side by side
| ASTH (Astrana Health Inc.) | MCK (McKesson Corporation) | |
|---|---|---|
| 1-year return | +23.1% | +30.8% |
| 5-year return | -46.1% | +354.8% |
| Volatility (ann.) | 56.8% | 25.1% |
| Beta vs S&P 500 | 1.15 | 0.16 |
| Max drawdown (3Y) | -71.0% | -27.2% |
| Market cap | $1.9B | $103.8B |
| P/E (trailing) | 47.4 | 24.0 |
| Dividend yield | 0.00% | 0.37% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ASTH | MCK |
|---|---|---|
| 2022 | -59.7% | +51.8% |
| 2023 | +29.4% | +24.1% |
| 2024 | -17.7% | +23.7% |
| 2025 | -21.3% | +44.5% |
| 2026 | +54.8% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTH and MCK good diversifiers for each other?
Yes. With a correlation of -0.21, ASTH and MCK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ASTH and MCK?
The ASTH/MCK correlation stands at -0.21 on a 3-year window (1 year: -0.22, 5 years: -0.07), computed from weekly returns as of 2026-08-27.
Is MCK a good diversifier for ASTH?
Yes. With a correlation of -0.21, ASTH and MCK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
A reading of -0.21 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/asth-vs-mck.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asth-vs-mck/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASTH correlations · MCK correlations
