CNC vs MRAM: Correlation
Measured on weekly returns over the past three years, Centene Corporation (CNC) and Everspin Technologies, Inc. (MRAM) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNC and MRAM?
Across a 3-year window, the weekly returns of CNC and MRAM correlate at 0.30, moderate. The past 12 months show a tighter link (0.47) than the 3-year average (0.30). Stretching to 5 years gives 0.27, with an annualized covariance of 933.1 %².
Within CNC's tracked universe of 30 assets, MRAM comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MRAM outperformed by 46.7 percentage points (+126.5% for CNC against +173.2% for MRAM). One caveat on sizing: MRAM is 1.5 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.
CNC vs MRAM: side by side
| CNC (Centene Corporation) | MRAM (Everspin Technologies, Inc.) | |
|---|---|---|
| 1-year return | +126.5% | +173.2% |
| 5-year return | +3.3% | +134.7% |
| Volatility (ann.) | 45.4% | 69.5% |
| Beta vs S&P 500 | 0.36 | 1.58 |
| Max drawdown (3Y) | -68.6% | -70.6% |
| Market cap | $32.3B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CNC | MRAM |
|---|---|---|
| 2022 | -0.5% | -50.8% |
| 2023 | -9.5% | +62.6% |
| 2024 | -18.4% | -29.3% |
| 2025 | -32.1% | +45.2% |
| 2026 | +58.8% | +88.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNC and MRAM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CNC and MRAM?
As of 2026-08-27, the correlation of weekly returns between CNC and MRAM is 0.30 over 3 years, 0.47 over 1 year and 0.27 over 5 years.
Is MRAM a good diversifier for CNC?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 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-mram.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cnc-vs-mram/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNC correlations · MRAM correlations
