MD vs SHEN: Correlation
Pediatrix Medical Group, Inc. (MD) and Shenandoah Telecommunications Co (SHEN) 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 MD and SHEN?
On 3 years of weekly data the MD/SHEN correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.08) runs above the 3-year figure (-0.19). The 5-year figure is 0.05, and annualized covariance runs at -366.9 %².
Among the 11 assets we track against MD, SHEN sits near the bottom by co-movement, at rank #8. The last year tells two different stories: MD led by 64.5 percentage points, +56.0% for MD against -8.5% for SHEN.
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.
MD vs SHEN: side by side
| MD (Pediatrix Medical Group, Inc.) | SHEN (Shenandoah Telecommunications Co) | |
|---|---|---|
| 1-year return | +56.0% | -8.5% |
| 5-year return | -23.8% | -57.4% |
| Volatility (ann.) | 46.2% | 41.9% |
| Beta vs S&P 500 | 0.33 | 0.25 |
| Max drawdown (3Y) | -52.8% | -59.2% |
| Market cap | $2.2B | $0.7B |
| P/E (trailing) | 12.9 | – |
| Dividend yield | 0.00% | 0.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MD | SHEN |
|---|---|---|
| 2022 | -45.4% | -37.5% |
| 2023 | -37.4% | +36.6% |
| 2024 | +41.1% | -41.3% |
| 2025 | +63.0% | -7.4% |
| 2026 | +25.3% | +5.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MD and SHEN good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between MD and SHEN?
The MD/SHEN correlation stands at -0.19 on a 3-year window (1 year: -0.08, 5 years: 0.05), computed from weekly returns as of 2026-08-27.
Is SHEN a good diversifier for MD?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/md-vs-shen.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/md-vs-shen/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MD correlations · SHEN correlations
