CPAY vs MOH: Correlation
Measured on weekly returns over the past three years, Corpay (CPAY) and Molina Healthcare Inc (MOH) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPAY and MOH?
Across a 3-year window, the weekly returns of CPAY and MOH correlate at -0.16, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.19) sits close to the 3-year figure. Stretching to 5 years gives -0.06, with an annualized covariance of -226.2 %².
Within CPAY's tracked universe of 32 assets, MOH comes in at #27 by 3-year correlation. The trailing year gives CPAY the advantage: +24.1% versus +12.8%, a 11.3-point spread.
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.
CPAY vs MOH: side by side
| CPAY (Corpay) | MOH (Molina Healthcare Inc) | |
|---|---|---|
| 1-year return | +24.1% | +12.8% |
| 5-year return | +55.2% | -25.1% |
| Volatility (ann.) | 31.7% | 44.8% |
| Beta vs S&P 500 | 1.22 | -0.03 |
| Max drawdown (3Y) | -34.5% | -70.8% |
| Market cap | $26.5B | $10.4B |
| P/E (trailing) | 24.7 | 1242.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CPAY | MOH |
|---|---|---|
| 2022 | -17.9% | +3.8% |
| 2023 | +53.9% | +9.4% |
| 2024 | +19.7% | -19.4% |
| 2025 | -11.1% | -40.4% |
| 2026 | +34.1% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPAY and MOH good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CPAY and MOH?
The CPAY/MOH correlation stands at -0.16 on a 3-year window (1 year: -0.19, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is MOH a good diversifier for CPAY?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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/cpay-vs-moh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cpay-vs-moh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CPAY correlations · MOH correlations
