ATAI vs CNC: Correlation
How closely do AtaiBeckley Inc. (ATAI) and Centene Corporation (CNC) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATAI and CNC?
On 3 years of weekly data the ATAI/CNC correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.06 versus -0.21 over 3 years. The 5-year figure is -0.09, and annualized covariance runs at -826.5 %².
CNC is close to the least connected end of ATAI's tracked universe, ranking #8 of 10. Their recent paths diverged sharply: over the last 12 months CNC outperformed by 65.7 percentage points (+60.8% for ATAI against +126.5% for CNC). Risk is not evenly split, since ATAI carries 1.9 times the volatility of the other side.
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.
ATAI vs CNC: side by side
| ATAI (AtaiBeckley Inc.) | CNC (Centene Corporation) | |
|---|---|---|
| 1-year return | +60.8% | +126.5% |
| 5-year return | -53.9% | +3.3% |
| Volatility (ann.) | 85.3% | 45.4% |
| Beta vs S&P 500 | 1.22 | 0.36 |
| Max drawdown (3Y) | -59.2% | -68.6% |
| Market cap | $2.7B | $32.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ATAI | CNC |
|---|---|---|
| 2022 | -65.1% | -0.5% |
| 2023 | -47.0% | -9.5% |
| 2024 | -5.7% | -18.4% |
| 2025 | +207.5% | -32.1% |
| 2026 | +79.7% | +58.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATAI and CNC good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between ATAI and CNC?
As of 2026-08-27, the correlation of weekly returns between ATAI and CNC is -0.21 over 3 years, -0.06 over 1 year and -0.09 over 5 years.
Is CNC a good diversifier for ATAI?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
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/atai-vs-cnc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/atai-vs-cnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ATAI correlations · CNC correlations
