EVH vs MOH: Correlation
Evolent Health, Inc (EVH) and Molina Healthcare Inc (MOH) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVH and MOH?
Over the past 3 years, EVH and MOH moved with a correlation of 0.36, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.50 versus 0.36 over 3 years. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 1165.8 %².
Within EVH's tracked universe of 13 assets, MOH comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MOH ahead by 65.1 points (-52.3% versus +12.8%). Note the risk asymmetry: EVH runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EVH vs MOH: side by side
| EVH (Evolent Health, Inc) | MOH (Molina Healthcare Inc) | |
|---|---|---|
| 1-year return | -52.3% | +12.8% |
| 5-year return | -81.3% | -25.1% |
| Volatility (ann.) | 72.4% | 44.8% |
| Beta vs S&P 500 | 0.65 | -0.03 |
| Max drawdown (3Y) | -93.8% | -70.8% |
| Market cap | $0.5B | $10.4B |
| P/E (trailing) | – | 1242.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVH | MOH |
|---|---|---|
| 2022 | +1.5% | +3.8% |
| 2023 | +17.6% | +9.4% |
| 2024 | -65.9% | -19.4% |
| 2025 | -64.4% | -40.4% |
| 2026 | +14.8% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVH and MOH good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EVH and MOH?
As of 2026-08-27, the correlation of weekly returns between EVH and MOH is 0.36 over 3 years, 0.50 over 1 year and 0.35 over 5 years.
Is MOH a good diversifier for EVH?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/evh-vs-moh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evh-vs-moh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVH correlations · MOH correlations
