NEPH vs PAHC: Correlation
Measured on weekly returns over the past three years, Nephros, Inc. (NEPH) and Phibro Animal Health Corporation (PAHC) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEPH and PAHC?
Across a 3-year window, the weekly returns of NEPH and PAHC correlate at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.44 versus -0.23 over 3 years. Stretching to 5 years gives -0.14, with an annualized covariance of -831.4 %².
Out of 16 assets tracked against NEPH, PAHC lands near the bottom at #15. The trailing year gives PAHC the advantage: +6.4% versus +14.3%, a 7.9-point spread.
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.
NEPH vs PAHC: side by side
| NEPH (Nephros, Inc.) | PAHC (Phibro Animal Health Corporation) | |
|---|---|---|
| 1-year return | +6.4% | +14.3% |
| 5-year return | -48.4% | +73.3% |
| Volatility (ann.) | 66.5% | 53.5% |
| Beta vs S&P 500 | 0.07 | 0.79 |
| Max drawdown (3Y) | -65.2% | -52.1% |
| Market cap | – | $1.5B |
| P/E (trailing) | 25.4 | 15.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEPH | PAHC |
|---|---|---|
| 2022 | -80.3% | -32.3% |
| 2023 | +198.3% | -10.4% |
| 2024 | -57.5% | +86.3% |
| 2025 | +232.0% | +80.8% |
| 2026 | -11.7% | -2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEPH and PAHC good diversifiers for each other?
Yes. With a correlation of -0.23, NEPH and PAHC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NEPH and PAHC?
As of 2026-08-27, the correlation of weekly returns between NEPH and PAHC is -0.23 over 3 years, -0.44 over 1 year and -0.14 over 5 years.
Is PAHC a good diversifier for NEPH?
Yes. With a correlation of -0.23, NEPH and PAHC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/neph-vs-pahc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/neph-vs-pahc/)
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Related comparisons
Hubs: NEPH correlations · PAHC correlations
