CNC vs MOH: Correlation
Measured on weekly returns over the past three years, Centene Corporation (CNC) and Molina Healthcare Inc (MOH) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNC and MOH?
Over the past 3 years, CNC and MOH moved with a correlation of 0.67, which is strong. The link has loosened recently: the 1-year correlation (0.57) runs below the 3-year figure (0.67). Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 1360.9 %².
MOH is one of the assets that tracks CNC most closely: it ranks #1 out of the 30 assets we track against CNC. The last year tells two different stories: CNC led by 113.7 percentage points, +126.5% for CNC against +12.8% for MOH.
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 MOH: side by side
| CNC (Centene Corporation) | MOH (Molina Healthcare Inc) | |
|---|---|---|
| 1-year return | +126.5% | +12.8% |
| 5-year return | +3.3% | -25.1% |
| Volatility (ann.) | 45.4% | 44.8% |
| Beta vs S&P 500 | 0.36 | -0.03 |
| Max drawdown (3Y) | -68.6% | -70.8% |
| Market cap | $32.3B | $10.4B |
| P/E (trailing) | – | 1242.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CNC | MOH |
|---|---|---|
| 2022 | -0.5% | +3.8% |
| 2023 | -9.5% | +9.4% |
| 2024 | -18.4% | -19.4% |
| 2025 | -32.1% | -40.4% |
| 2026 | +58.8% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNC and MOH good diversifiers for each other?
To a limited degree. At 0.67 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 CNC and MOH?
The CNC/MOH correlation stands at 0.67 on a 3-year window (1 year: 0.57, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is MOH a good diversifier for CNC?
To a limited degree. At 0.67 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 0.67 mean?
On the −1 to +1 scale, 0.67 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/cnc-vs-moh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnc-vs-moh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNC correlations · MOH correlations
