HCA vs MXL: Correlation
Measured on weekly returns over the past three years, HCA Healthcare (HCA) and MaxLinear, Inc (MXL) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HCA and MXL?
Over the past 3 years, HCA and MXL moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.32) than the 3-year average (-0.21). Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -583.9 %².
Within HCA's tracked universe of 32 assets, MXL comes in at #27 by 3-year correlation. The last year tells two different stories: MXL led by 274.7 percentage points, +4.2% for HCA against +278.9% for MXL. Note the risk asymmetry: MXL runs 3.9 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.
HCA vs MXL: side by side
| HCA (HCA Healthcare) | MXL (MaxLinear, Inc) | |
|---|---|---|
| 1-year return | +4.2% | +278.9% |
| 5-year return | +72.5% | +19.8% |
| Volatility (ann.) | 26.9% | 105.2% |
| Beta vs S&P 500 | 0.42 | 2.50 |
| Max drawdown (3Y) | -33.6% | -63.9% |
| Market cap | $90.8B | $5.8B |
| P/E (trailing) | 14.1 | – |
| Dividend yield | 0.70% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | HCA | MXL |
|---|---|---|
| 2022 | -5.6% | -55.0% |
| 2023 | +13.8% | -30.0% |
| 2024 | +11.8% | -16.8% |
| 2025 | +56.7% | -11.9% |
| 2026 | -9.9% | +263.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCA and MXL good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HCA and MXL?
As of 2026-08-27, the correlation of weekly returns between HCA and MXL is -0.21 over 3 years, -0.32 over 1 year and -0.05 over 5 years.
Is MXL a good diversifier for HCA?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/hca-vs-mxl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hca-vs-mxl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HCA correlations · MXL correlations
