DGX vs MSAI: Correlation
Quest Diagnostics (DGX) and MultiSensor AI Holdings, Inc. (MSAI) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGX and MSAI?
On 3 years of weekly data the DGX/MSAI correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.19 over 3. The 5-year figure is -0.15, and annualized covariance runs at -444.7 %².
By 3-year correlation, MSAI places #25 of the 32 assets tracked against DGX. Correlation aside, the last 12 months split them widely, with DGX ahead by 120.0 points (+38.5% versus -81.5%). Risk is not evenly split, since MSAI carries 6.4 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.
DGX vs MSAI: side by side
| DGX (Quest Diagnostics) | MSAI (MultiSensor AI Holdings, Inc.) | |
|---|---|---|
| 1-year return | +38.5% | -81.5% |
| 5-year return | +78.8% | -98.6% |
| Volatility (ann.) | 19.1% | 122.9% |
| Beta vs S&P 500 | 0.09 | 1.24 |
| Max drawdown (3Y) | -12.4% | -99.1% |
| Market cap | $27.0B | – |
| P/E (trailing) | 26.0 | – |
| Dividend yield | 1.36% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | DGX | MSAI |
|---|---|---|
| 2022 | -7.8% | +4.0% |
| 2023 | -10.1% | -67.2% |
| 2024 | +11.8% | -45.1% |
| 2025 | +17.2% | -84.3% |
| 2026 | +42.8% | -52.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGX and MSAI good diversifiers for each other?
Yes. With a correlation of -0.19, DGX and MSAI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DGX and MSAI?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.27 over the last year and -0.15 over 5 years.
Is MSAI a good diversifier for DGX?
Yes. With a correlation of -0.19, DGX and MSAI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/dgx-vs-msai.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgx-vs-msai/)
No key needed, free to use. Full endpoint list in the API documentation.
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Hubs: DGX correlations · MSAI correlations
