EGHT vs RNST: Correlation
How closely do 8x8 Inc (EGHT) and Renasant Corporation (RNST) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EGHT and RNST?
On 3 years of weekly data the EGHT/RNST correlation comes out at 0.58, moderate. The link has loosened recently: the 1-year correlation (0.45) runs below the 3-year figure (0.58). The 5-year figure is 0.50, and annualized covariance runs at 1408.9 %².
In EGHT's tracked universe of 15 assets, RNST sits right near the top at #1. Neither side won the trailing year by much: +5.2% against +7.1%. One caveat on sizing: EGHT is 2.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EGHT vs RNST: side by side
| EGHT (8x8 Inc) | RNST (Renasant Corporation) | |
|---|---|---|
| 1-year return | +5.2% | +7.1% |
| 5-year return | -91.6% | +34.8% |
| Volatility (ann.) | 80.2% | 30.4% |
| Beta vs S&P 500 | 2.07 | 0.95 |
| Max drawdown (3Y) | -59.5% | -29.3% |
| Market cap | $0.3B | $3.8B |
| P/E (trailing) | 67.0 | 12.1 |
| Dividend yield | 0.00% | 2.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EGHT | RNST |
|---|---|---|
| 2022 | -74.2% | +1.7% |
| 2023 | -12.5% | -7.7% |
| 2024 | -29.4% | +9.1% |
| 2025 | -26.2% | +1.0% |
| 2026 | +2.0% | +18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EGHT and RNST good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EGHT and RNST?
The EGHT/RNST correlation stands at 0.58 on a 3-year window (1 year: 0.45, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is RNST a good diversifier for EGHT?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
A reading of 0.58 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EGHT correlations · RNST correlations
