HCSG vs PEGA: Correlation
Measured on weekly returns over the past three years, Healthcare Services Group, Inc. (HCSG) and Pegasystems Inc. (PEGA) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HCSG and PEGA?
Across a 3-year window, the weekly returns of HCSG and PEGA correlate at 0.49, moderate. The link has loosened recently: the 1-year correlation (0.24) runs below the 3-year figure (0.49). Stretching to 5 years gives 0.38, with an annualized covariance of 1087.7 %².
PEGA is one of the assets that tracks HCSG most closely: it ranks #2 out of the 14 assets we track against HCSG. The last year tells two different stories: HCSG led by 79.0 percentage points, +47.2% for HCSG against -31.8% for PEGA.
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.
HCSG vs PEGA: side by side
| HCSG (Healthcare Services Group, Inc.) | PEGA (Pegasystems Inc.) | |
|---|---|---|
| 1-year return | +47.2% | -31.8% |
| 5-year return | -6.5% | -47.4% |
| Volatility (ann.) | 44.6% | 50.2% |
| Beta vs S&P 500 | 0.90 | 1.28 |
| Max drawdown (3Y) | -27.4% | -60.9% |
| Market cap | $1.6B | $5.9B |
| P/E (trailing) | 13.4 | 20.4 |
| Dividend yield | 0.00% | 0.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HCSG | PEGA |
|---|---|---|
| 2022 | -28.7% | -69.3% |
| 2023 | -13.6% | +43.1% |
| 2024 | +12.1% | +91.0% |
| 2025 | +64.5% | +28.4% |
| 2026 | +20.0% | -39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCSG and PEGA good diversifiers for each other?
Reasonably. At 0.49, HCSG and PEGA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HCSG and PEGA?
As of 2026-08-27, the correlation of weekly returns between HCSG and PEGA is 0.49 over 3 years, 0.24 over 1 year and 0.38 over 5 years.
Is PEGA a good diversifier for HCSG?
Reasonably. At 0.49, HCSG and PEGA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/hcsg-vs-pega.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hcsg-vs-pega/)
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Related comparisons
Hubs: HCSG correlations · PEGA correlations
