AVAH vs RIGL: Correlation
How closely do Aveanna Healthcare Holdings Inc. (AVAH) and Rigel Pharmaceuticals, Inc. (RIGL) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVAH and RIGL?
Across a 3-year window, the weekly returns of AVAH and RIGL correlate at 0.47, moderate. The link has loosened recently: the 1-year correlation (0.24) runs below the 3-year figure (0.47). Stretching to 5 years gives 0.35, with an annualized covariance of 2664.9 %².
Within AVAH's tracked universe of 11 assets, RIGL comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AVAH outperformed by 58.2 percentage points (+76.1% for AVAH against +17.9% for RIGL).
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 RIGL: side by side
| AVAH (Aveanna Healthcare Holdings Inc.) | RIGL (Rigel Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +76.1% | +17.9% |
| 5-year return | +46.9% | +23.3% |
| Volatility (ann.) | 73.8% | 76.9% |
| Beta vs S&P 500 | 1.38 | 1.98 |
| Max drawdown (3Y) | -39.4% | -50.8% |
| Market cap | $3.0B | $0.9B |
| P/E (trailing) | 10.8 | 2.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVAH | RIGL |
|---|---|---|
| 2022 | -89.5% | -43.4% |
| 2023 | +243.6% | -3.3% |
| 2024 | +70.5% | +16.0% |
| 2025 | +78.8% | +154.6% |
| 2026 | +69.2% | +9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVAH and RIGL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AVAH and RIGL?
As of 2026-08-27, the correlation of weekly returns between AVAH and RIGL is 0.47 over 3 years, 0.24 over 1 year and 0.35 over 5 years.
Is RIGL a good diversifier for AVAH?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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
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Related comparisons
Hubs: AVAH correlations · RIGL correlations
