CNC vs PRGS: Correlation
Centene Corporation (CNC) and Progress Software Corporation (PRGS) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNC and PRGS?
On 3 years of weekly data the CNC/PRGS correlation comes out at 0.28, weak. Little has changed lately, as the 1-year reading of 0.26 lands near the 3-year figure. The 5-year figure is 0.25, and annualized covariance runs at 493.6 %².
By 3-year correlation, PRGS places #14 of the 30 assets tracked against CNC. Their recent paths diverged sharply: over the last 12 months CNC outperformed by 130.0 percentage points (+126.5% for CNC against -3.5% for PRGS).
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 PRGS: side by side
| CNC (Centene Corporation) | PRGS (Progress Software Corporation) | |
|---|---|---|
| 1-year return | +126.5% | -3.5% |
| 5-year return | +3.3% | +1.2% |
| Volatility (ann.) | 45.4% | 38.3% |
| Beta vs S&P 500 | 0.36 | 0.62 |
| Max drawdown (3Y) | -68.6% | -64.1% |
| Market cap | $32.3B | $1.9B |
| P/E (trailing) | – | 22.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CNC | PRGS |
|---|---|---|
| 2022 | -0.5% | +6.0% |
| 2023 | -9.5% | +8.9% |
| 2024 | -18.4% | +21.2% |
| 2025 | -32.1% | -34.1% |
| 2026 | +58.8% | +5.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNC and PRGS good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CNC and PRGS?
The CNC/PRGS correlation stands at 0.28 on a 3-year window (1 year: 0.26, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is PRGS a good diversifier for CNC?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 mean?
A reading of 0.28 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-prgs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnc-vs-prgs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNC correlations · PRGS correlations
