EVH vs PLNT: Correlation
Evolent Health, Inc (EVH) and Planet Fitness, Inc. (PLNT) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVH and PLNT?
On 3 years of weekly data the EVH/PLNT correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. The 5-year figure is -0.07, and annualized covariance runs at -653.2 %².
Out of 13 assets tracked against EVH, PLNT lands near the bottom at #11. Neither side won the trailing year by much: -52.3% against -51.1%. Risk is not evenly split, since EVH carries 1.9 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.
EVH vs PLNT: side by side
| EVH (Evolent Health, Inc) | PLNT (Planet Fitness, Inc.) | |
|---|---|---|
| 1-year return | -52.3% | -51.1% |
| 5-year return | -81.3% | -36.6% |
| Volatility (ann.) | 72.4% | 39.0% |
| Beta vs S&P 500 | 0.65 | 0.42 |
| Max drawdown (3Y) | -93.8% | -61.2% |
| Market cap | $0.5B | $3.9B |
| P/E (trailing) | – | 17.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVH | PLNT |
|---|---|---|
| 2022 | +1.5% | -13.0% |
| 2023 | +17.6% | -7.4% |
| 2024 | -65.9% | +35.4% |
| 2025 | -64.4% | +9.7% |
| 2026 | +14.8% | -52.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVH and PLNT good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EVH and PLNT?
As of 2026-08-27, the correlation of weekly returns between EVH and PLNT is -0.23 over 3 years, -0.33 over 1 year and -0.07 over 5 years.
Is PLNT a good diversifier for EVH?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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-plnt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/evh-vs-plnt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EVH correlations · PLNT correlations
