CNC vs SOC: Correlation
How closely do Centene Corporation (CNC) and Sable Offshore Corp. (SOC) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNC and SOC?
Across a 3-year window, the weekly returns of CNC and SOC correlate at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Stretching to 5 years gives -0.17, with an annualized covariance of -908.7 %².
Within CNC's tracked universe of 30 assets, SOC comes in at #20 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CNC outperformed by 210.1 percentage points (+126.5% for CNC against -83.6% for SOC). Note the risk asymmetry: SOC runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SOC: side by side
| CNC (Centene Corporation) | SOC (Sable Offshore Corp.) | |
|---|---|---|
| 1-year return | +126.5% | -83.6% |
| 5-year return | +3.3% | -51.7% |
| Volatility (ann.) | 45.4% | 101.7% |
| Beta vs S&P 500 | 0.36 | 0.03 |
| Max drawdown (3Y) | -68.6% | -90.7% |
| Market cap | $32.3B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CNC | SOC |
|---|---|---|
| 2022 | -0.5% | +3.4% |
| 2023 | -9.5% | +13.3% |
| 2024 | -18.4% | +101.1% |
| 2025 | -32.1% | -60.6% |
| 2026 | +58.8% | -48.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNC and SOC good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between CNC and SOC?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.23 over the last year and -0.17 over 5 years.
Is SOC a good diversifier for CNC?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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-soc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnc-vs-soc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNC correlations · SOC correlations
