CLOV vs NUTX: Correlation
Measured on weekly returns over the past three years, Clover Health Investments, Corp. (CLOV) and Nutex Health Inc. (NUTX) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLOV and NUTX?
On 3 years of weekly data the CLOV/NUTX correlation comes out at 0.38, moderate. The relationship has been stable: the 1-year correlation (0.39) sits close to the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 3546.6 %².
Within CLOV's tracked universe of 10 assets, NUTX comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NUTX ahead by 58.8 points (+57.2% versus +116.0%). One caveat on sizing: NUTX is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CLOV vs NUTX: side by side
| CLOV (Clover Health Investments, Corp.) | NUTX (Nutex Health Inc.) | |
|---|---|---|
| 1-year return | +57.2% | +116.0% |
| 5-year return | -50.1% | -96.8% |
| Volatility (ann.) | 77.7% | 120.6% |
| Beta vs S&P 500 | 1.73 | 2.13 |
| Max drawdown (3Y) | -64.7% | -90.7% |
| Market cap | $2.2B | $1.3B |
| P/E (trailing) | – | 7.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLOV | NUTX |
|---|---|---|
| 2022 | -75.0% | – |
| 2023 | +2.4% | -90.5% |
| 2024 | +230.9% | +17.4% |
| 2025 | -25.4% | +419.5% |
| 2026 | +80.0% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLOV and NUTX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CLOV and NUTX?
As of 2026-08-27, the correlation of weekly returns between CLOV and NUTX is 0.38 over 3 years, 0.39 over 1 year and 0.34 over 5 years.
Is NUTX a good diversifier for CLOV?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/clov-vs-nutx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/clov-vs-nutx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CLOV correlations · NUTX correlations
