HSTM vs PGNY: Correlation
Measured on weekly returns over the past three years, HealthStream, Inc. (HSTM) and Progyny, Inc. (PGNY) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSTM and PGNY?
On 3 years of weekly data the HSTM/PGNY correlation comes out at 0.41, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. The 5-year figure is 0.40, and annualized covariance runs at 544.7 %².
Within HSTM's tracked universe of 13 assets, PGNY comes in at #6 by 3-year correlation. Over the last 12 months PGNY came out ahead by 10.1 percentage points (+2.2% against +12.3%). Risk is not evenly split, since PGNY carries 1.8 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.
HSTM vs PGNY: side by side
| HSTM (HealthStream, Inc.) | PGNY (Progyny, Inc.) | |
|---|---|---|
| 1-year return | +2.2% | +12.3% |
| 5-year return | -1.6% | -53.1% |
| Volatility (ann.) | 27.4% | 48.9% |
| Beta vs S&P 500 | 0.54 | 0.64 |
| Max drawdown (3Y) | -41.4% | -67.2% |
| Market cap | $0.8B | $2.0B |
| P/E (trailing) | 40.0 | 28.1 |
| Dividend yield | 0.46% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HSTM | PGNY |
|---|---|---|
| 2022 | -5.8% | -38.1% |
| 2023 | +9.3% | +19.4% |
| 2024 | +18.1% | -53.6% |
| 2025 | -27.1% | +48.9% |
| 2026 | +25.5% | +0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSTM and PGNY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HSTM and PGNY?
As of 2026-08-27, the correlation of weekly returns between HSTM and PGNY is 0.41 over 3 years, 0.49 over 1 year and 0.40 over 5 years.
Is PGNY a good diversifier for HSTM?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: HSTM correlations · PGNY correlations
