ENR vs PACS: Correlation
Measured on weekly returns over the past three years, Energizer Holdings, Inc. (ENR) and PACS Group, Inc. (PACS) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENR and PACS?
On 3 years of weekly data the ENR/PACS correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.43) than the 3-year average (-0.28). The 5-year figure is n/a, and annualized covariance runs at -1502.8 %².
PACS is close to the least connected end of ENR's tracked universe, ranking #13 of 13. Correlation aside, the last 12 months split them widely, with PACS ahead by 289.4 points (-16.4% versus +273.0%). One caveat on sizing: PACS is 2.9 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.
ENR vs PACS: side by side
| ENR (Energizer Holdings, Inc.) | PACS (PACS Group, Inc.) | |
|---|---|---|
| 1-year return | -16.4% | +273.0% |
| 5-year return | -30.7% | n/a |
| Volatility (ann.) | 41.2% | 120.5% |
| Beta vs S&P 500 | 0.78 | 0.06 |
| Max drawdown (3Y) | -56.1% | -82.0% |
| Market cap | $1.5B | $7.0B |
| P/E (trailing) | 18.4 | 25.9 |
| Dividend yield | 5.46% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENR | PACS |
|---|---|---|
| 2022 | -13.2% | – |
| 2023 | -2.2% | – |
| 2024 | +14.4% | – |
| 2025 | -40.1% | +192.8% |
| 2026 | +16.3% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENR and PACS good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between ENR and PACS?
The ENR/PACS correlation stands at -0.28 on a 3-year window (1 year: -0.43, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PACS a good diversifier for ENR?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
A reading of -0.28 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/enr-vs-pacs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/enr-vs-pacs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ENR correlations · PACS correlations
