LH vs PAM: Correlation
Labcorp (LH) and Pampa Energia S.A. (PAM) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LH and PAM?
Across a 3-year window, the weekly returns of LH and PAM correlate at -0.19, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.36) than the 3-year average (-0.19). Stretching to 5 years gives 0.03, with an annualized covariance of -188.1 %².
PAM is close to the least connected end of LH's tracked universe, ranking #31 of 34. Twelve-month performance is nearly a tie, at +21.8% for LH and +22.4% for PAM. One caveat on sizing: PAM is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LH vs PAM: side by side
| LH (Labcorp) | PAM (Pampa Energia S.A.) | |
|---|---|---|
| 1-year return | +21.8% | +22.4% |
| 5-year return | +36.0% | +339.3% |
| Volatility (ann.) | 21.4% | 45.3% |
| Beta vs S&P 500 | 0.33 | 0.38 |
| Max drawdown (3Y) | -17.4% | -40.4% |
| Market cap | $27.3B | $4.3B |
| P/E (trailing) | 27.8 | 7.3 |
| Dividend yield | 0.86% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | LH | PAM |
|---|---|---|
| 2022 | -24.4% | +51.3% |
| 2023 | +13.8% | +55.0% |
| 2024 | +2.2% | +77.6% |
| 2025 | +10.6% | +0.6% |
| 2026 | +34.8% | -8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LH and PAM good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LH and PAM?
As of 2026-08-27, the correlation of weekly returns between LH and PAM is -0.19 over 3 years, -0.36 over 1 year and 0.03 over 5 years.
Is PAM a good diversifier for LH?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/lh-vs-pam.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lh-vs-pam/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LH correlations · PAM correlations
