ELV vs MOH: Correlation
Measured on weekly returns over the past three years, Elevance Health (ELV) and Molina Healthcare Inc (MOH) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELV and MOH?
Over the past 3 years, ELV and MOH moved with a correlation of 0.53, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.53 over 3. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 669.3 %².
In ELV's tracked universe of 27 assets, MOH sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months ELV outperformed by 18.7 percentage points (+31.5% for ELV against +12.8% for MOH). Risk is not evenly split, since MOH carries 1.6 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.
ELV vs MOH: side by side
| ELV (Elevance Health) | MOH (Molina Healthcare Inc) | |
|---|---|---|
| 1-year return | +31.5% | +12.8% |
| 5-year return | +15.7% | -25.1% |
| Volatility (ann.) | 28.0% | 44.8% |
| Beta vs S&P 500 | 0.37 | -0.03 |
| Max drawdown (3Y) | -50.4% | -70.8% |
| Market cap | $86.6B | $10.4B |
| P/E (trailing) | 17.8 | 1242.2 |
| Dividend yield | 1.70% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ELV | MOH |
|---|---|---|
| 2022 | +11.8% | +3.8% |
| 2023 | -6.9% | +9.4% |
| 2024 | -20.7% | -19.4% |
| 2025 | -3.1% | -40.4% |
| 2026 | +15.0% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELV and MOH good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ELV and MOH?
The ELV/MOH correlation stands at 0.53 on a 3-year window (1 year: 0.46, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is MOH a good diversifier for ELV?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/elv-vs-moh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/elv-vs-moh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ELV correlations · MOH correlations
