OMF vs SLM: Correlation
How closely do OneMain Holdings, Inc. (OMF) and SLM Corporation (SLM) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OMF and SLM?
Across a 3-year window, the weekly returns of OMF and SLM correlate at 0.61, strong. The link has loosened recently: the 1-year correlation (0.48) runs below the 3-year figure (0.61). Stretching to 5 years gives 0.63, with an annualized covariance of 642.4 %².
Within OMF's tracked universe of 27 assets, SLM comes in at #10 by 3-year correlation. The last year tells two different stories: OMF led by 25.6 percentage points, +11.8% for OMF against -13.8% for SLM.
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.
OMF vs SLM: side by side
| OMF (OneMain Holdings, Inc.) | SLM (SLM Corporation) | |
|---|---|---|
| 1-year return | +11.8% | -13.8% |
| 5-year return | +68.1% | +62.3% |
| Volatility (ann.) | 31.8% | 33.1% |
| Beta vs S&P 500 | 1.27 | 0.96 |
| Max drawdown (3Y) | -29.9% | -45.1% |
| Market cap | $7.3B | $5.0B |
| P/E (trailing) | 9.5 | 7.5 |
| Dividend yield | 6.64% | 1.94% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OMF | SLM |
|---|---|---|
| 2022 | -27.2% | -13.5% |
| 2023 | +63.0% | +18.7% |
| 2024 | +15.1% | +47.3% |
| 2025 | +39.8% | -0.2% |
| 2026 | -0.2% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OMF and SLM good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between OMF and SLM?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.48 over the last year and 0.63 over 5 years.
Is SLM a good diversifier for OMF?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
A reading of 0.61 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/omf-vs-slm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/omf-vs-slm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OMF correlations · SLM correlations
