CNC vs HUM: Correlation
Measured on weekly returns over the past three years, Centene Corporation (CNC) and Humana (HUM) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNC and HUM?
Over the past 3 years, CNC and HUM moved with a correlation of 0.31, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.44 versus 0.31 over 3 years. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 611.2 %².
Among the 30 assets we track against CNC, HUM ranks #9 by 3-year correlation. The last year tells two different stories: CNC led by 92.5 percentage points, +126.5% for CNC against +34.0% for HUM. This link changes with the market regime, having swung between 0.08 and 0.66 on a rolling one-year basis.
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.
CNC vs HUM: side by side
| CNC (Centene Corporation) | HUM (Humana) | |
|---|---|---|
| 1-year return | +126.5% | +34.0% |
| 5-year return | +3.3% | +1.8% |
| Volatility (ann.) | 45.4% | 43.3% |
| Beta vs S&P 500 | 0.36 | 0.52 |
| Max drawdown (3Y) | -68.6% | -67.9% |
| Market cap | $32.3B | $47.1B |
| P/E (trailing) | – | 36.9 |
| Dividend yield | 0.00% | 0.91% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | CNC | HUM |
|---|---|---|
| 2022 | -0.5% | +11.2% |
| 2023 | -9.5% | -9.9% |
| 2024 | -18.4% | -44.0% |
| 2025 | -32.1% | +2.4% |
| 2026 | +58.8% | +54.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNC and HUM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CNC and HUM?
As of 2026-08-27, the correlation of weekly returns between CNC and HUM is 0.31 over 3 years, 0.44 over 1 year and 0.38 over 5 years.
Is HUM a good diversifier for CNC?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnc-vs-hum.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnc-vs-hum/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNC correlations · HUM correlations
