GH vs NEO: Correlation
How closely do Guardant Health, Inc. (GH) and NeoGenomics, Inc. (NEO) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GH and NEO?
On 3 years of weekly data the GH/NEO correlation comes out at 0.43, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.43 over 3. The 5-year figure is 0.43, and annualized covariance runs at 1683.1 %².
Within GH's tracked universe of 12 assets, NEO comes in at #6 by 3-year correlation. Neither side won the trailing year by much: +165.4% against +163.3%.
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.
GH vs NEO: side by side
| GH (Guardant Health, Inc.) | NEO (NeoGenomics, Inc.) | |
|---|---|---|
| 1-year return | +165.4% | +163.3% |
| 5-year return | +33.5% | -62.1% |
| Volatility (ann.) | 64.9% | 59.7% |
| Beta vs S&P 500 | 1.44 | 1.17 |
| Max drawdown (3Y) | -59.8% | -76.7% |
| Market cap | $22.6B | $2.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GH | NEO |
|---|---|---|
| 2022 | -72.8% | -72.9% |
| 2023 | -0.6% | +75.1% |
| 2024 | +12.9% | +1.9% |
| 2025 | +234.3% | -28.6% |
| 2026 | +65.0% | +58.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GH and NEO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GH and NEO?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.49 over the last year and 0.43 over 5 years.
Is NEO a good diversifier for GH?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 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/gh-vs-neo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gh-vs-neo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GH correlations · NEO correlations
