CRVL vs NUTX: Correlation
CorVel Corp. (CRVL) and Nutex Health Inc. (NUTX) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRVL and NUTX?
Over the past 3 years, CRVL and NUTX moved with a correlation of 0.37, which is moderate. The relationship has been stable: the 1-year correlation (0.41) sits close to the 3-year figure. Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 1533.2 %².
Within CRVL's tracked universe of 16 assets, NUTX comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NUTX outperformed by 139.0 percentage points (-23.0% for CRVL against +116.0% for NUTX). Risk is not evenly split, since NUTX carries 3.5 times the volatility of the other side.
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.
CRVL vs NUTX: side by side
| CRVL (CorVel Corp.) | NUTX (Nutex Health Inc.) | |
|---|---|---|
| 1-year return | -23.0% | +116.0% |
| 5-year return | +27.9% | -96.8% |
| Volatility (ann.) | 34.0% | 120.6% |
| Beta vs S&P 500 | 0.68 | 2.13 |
| Max drawdown (3Y) | -64.2% | -90.7% |
| Market cap | $3.5B | $1.3B |
| P/E (trailing) | 31.3 | 7.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRVL | NUTX |
|---|---|---|
| 2022 | -30.1% | – |
| 2023 | +70.1% | -90.5% |
| 2024 | +35.0% | +17.4% |
| 2025 | -39.2% | +419.5% |
| 2026 | +2.6% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRVL and NUTX good diversifiers for each other?
Reasonably. At 0.37, CRVL and NUTX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CRVL and NUTX?
As of 2026-08-27, the correlation of weekly returns between CRVL and NUTX is 0.37 over 3 years, 0.41 over 1 year and 0.24 over 5 years.
Is NUTX a good diversifier for CRVL?
Reasonably. At 0.37, CRVL and NUTX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 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/crvl-vs-nutx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crvl-vs-nutx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRVL correlations · NUTX correlations
