CNC vs PNTG: Correlation
How closely do Centene Corporation (CNC) and The Pennant Group, Inc. (PNTG) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNC and PNTG?
Over the past 3 years, CNC and PNTG moved with a correlation of 0.30, which is moderate. Recent behaviour matches the longer record: 0.26 over 1 year against 0.30 over 3. Over 5 years the correlation is 0.19, and the annualized covariance of weekly returns is 470.8 %².
Among the 30 assets we track against CNC, PNTG ranks #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CNC ahead by 72.1 points (+126.5% versus +54.4%).
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 PNTG: side by side
| CNC (Centene Corporation) | PNTG (The Pennant Group, Inc.) | |
|---|---|---|
| 1-year return | +126.5% | +54.4% |
| 5-year return | +3.3% | +30.0% |
| Volatility (ann.) | 45.4% | 34.4% |
| Beta vs S&P 500 | 0.36 | 0.71 |
| Max drawdown (3Y) | -68.6% | -40.2% |
| Market cap | $32.3B | $1.3B |
| P/E (trailing) | – | 42.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CNC | PNTG |
|---|---|---|
| 2022 | -0.5% | -52.4% |
| 2023 | -9.5% | +26.8% |
| 2024 | -18.4% | +90.5% |
| 2025 | -32.1% | +6.1% |
| 2026 | +58.8% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNC and PNTG good diversifiers for each other?
Reasonably. At 0.30, CNC and PNTG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CNC and PNTG?
As of 2026-08-27, the correlation of weekly returns between CNC and PNTG is 0.30 over 3 years, 0.26 over 1 year and 0.19 over 5 years.
Is PNTG a good diversifier for CNC?
Reasonably. At 0.30, CNC and PNTG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnc-vs-pntg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cnc-vs-pntg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNC correlations · PNTG correlations
