MANH vs PPCB: Correlation
Manhattan Associates, Inc. (MANH) and Propanc Biopharma, Inc. (PPCB) show a negative relationship: their 3-year correlation of weekly returns is -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MANH and PPCB?
Across a 3-year window, the weekly returns of MANH and PPCB correlate at -0.39, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.15) than the 3-year average (-0.39). Stretching to 5 years gives -0.32, with an annualized covariance of -15740585.0 %².
Among the 13 assets we track against MANH, PPCB sits near the bottom by co-movement, at rank #11. The last year tells two different stories: MANH led by 99.2 percentage points, +2.2% for MANH against -97.0% for PPCB. Note the risk asymmetry: PPCB runs 23074.2 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.
MANH vs PPCB: side by side
| MANH (Manhattan Associates, Inc.) | PPCB (Propanc Biopharma, Inc.) | |
|---|---|---|
| 1-year return | +2.2% | -97.0% |
| 5-year return | +35.7% | -99.9% |
| Volatility (ann.) | 41.7% | 962193.8% |
| Beta vs S&P 500 | 1.25 | -3746.20 |
| Max drawdown (3Y) | -61.0% | -99.8% |
| Market cap | $13.0B | – |
| P/E (trailing) | 63.9 | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MANH | PPCB |
|---|---|---|
| 2022 | -21.9% | -98.6% |
| 2023 | +77.4% | -98.0% |
| 2024 | +25.5% | -98.3% |
| 2025 | -35.9% | +134050.0% |
| 2026 | +29.1% | -83.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MANH and PPCB good diversifiers for each other?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MANH and PPCB?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with 0.15 over the last year and -0.32 over 5 years.
Is PPCB a good diversifier for MANH?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 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.
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Related comparisons
Hubs: MANH correlations · PPCB correlations
