ATNI vs SHEN: Correlation
ATN International, Inc. (ATNI) and Shenandoah Telecommunications Co (SHEN) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATNI and SHEN?
Over the past 3 years, ATNI and SHEN moved with a correlation of 0.41, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.24 versus 0.41 over 3 years. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 1005.5 %².
By 3-year correlation, SHEN places #6 of the 11 assets tracked against ATNI. The last year tells two different stories: ATNI led by 103.9 percentage points, +95.4% for ATNI against -8.5% for SHEN.
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.
ATNI vs SHEN: side by side
| ATNI (ATN International, Inc.) | SHEN (Shenandoah Telecommunications Co) | |
|---|---|---|
| 1-year return | +95.4% | -8.5% |
| 5-year return | -22.3% | -57.4% |
| Volatility (ann.) | 58.6% | 41.9% |
| Beta vs S&P 500 | 0.57 | 0.25 |
| Max drawdown (3Y) | -62.6% | -59.2% |
| Market cap | $0.5B | $0.7B |
| P/E (trailing) | 3.0 | – |
| Dividend yield | 3.64% | 0.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATNI | SHEN |
|---|---|---|
| 2022 | +15.3% | -37.5% |
| 2023 | -11.9% | +36.6% |
| 2024 | -55.1% | -41.3% |
| 2025 | +43.8% | -7.4% |
| 2026 | +32.9% | +5.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATNI and SHEN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ATNI and SHEN?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.24 over the last year and 0.42 over 5 years.
Is SHEN a good diversifier for ATNI?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/atni-vs-shen.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/atni-vs-shen/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ATNI correlations · SHEN correlations
