AVAH vs PNTG: Correlation
How closely do Aveanna Healthcare Holdings Inc. (AVAH) and The Pennant Group, Inc. (PNTG) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVAH and PNTG?
On 3 years of weekly data the AVAH/PNTG correlation comes out at 0.50, moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.50). The 5-year figure is 0.34, and annualized covariance runs at 1280.6 %².
PNTG is one of the assets that tracks AVAH most closely: it ranks #1 out of the 11 assets we track against AVAH. The last year tells two different stories: AVAH led by 21.7 percentage points, +76.1% for AVAH against +54.4% for PNTG. Risk is not evenly split, since AVAH carries 2.1 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.
AVAH vs PNTG: side by side
| AVAH (Aveanna Healthcare Holdings Inc.) | PNTG (The Pennant Group, Inc.) | |
|---|---|---|
| 1-year return | +76.1% | +54.4% |
| 5-year return | +46.9% | +30.0% |
| Volatility (ann.) | 73.8% | 34.4% |
| Beta vs S&P 500 | 1.38 | 0.71 |
| Max drawdown (3Y) | -39.4% | -40.2% |
| Market cap | $3.0B | $1.3B |
| P/E (trailing) | 10.8 | 42.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVAH | PNTG |
|---|---|---|
| 2022 | -89.5% | -52.4% |
| 2023 | +243.6% | +26.8% |
| 2024 | +70.5% | +90.5% |
| 2025 | +78.8% | +6.1% |
| 2026 | +69.2% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVAH and PNTG good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AVAH and PNTG?
As of 2026-08-27, the correlation of weekly returns between AVAH and PNTG is 0.50 over 3 years, 0.21 over 1 year and 0.34 over 5 years.
Is PNTG a good diversifier for AVAH?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: AVAH correlations · PNTG correlations
