PNBK vs UNH: Correlation
How closely do Patriot National Bancorp Inc. (PNBK) and UnitedHealth Group (UNH) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNBK and UNH?
On 3 years of weekly data the PNBK/UNH correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.03) runs above the 3-year figure (-0.27). The 5-year figure is -0.24, and annualized covariance runs at -1201.8 %².
UNH is close to the least connected end of PNBK's tracked universe, ranking #12 of 15. Their recent paths diverged sharply: over the last 12 months UNH outperformed by 65.6 percentage points (-32.1% for PNBK against +33.5% for UNH). Note the risk asymmetry: PNBK runs 2.8 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.
PNBK vs UNH: side by side
| PNBK (Patriot National Bancorp Inc.) | UNH (UnitedHealth Group) | |
|---|---|---|
| 1-year return | -32.1% | +33.5% |
| 5-year return | -89.0% | +3.1% |
| Volatility (ann.) | 112.5% | 39.8% |
| Beta vs S&P 500 | 0.76 | 0.17 |
| Max drawdown (3Y) | -89.4% | -61.4% |
| Market cap | $0.1B | $354.6B |
| P/E (trailing) | – | 25.8 |
| Dividend yield | 0.00% | 2.23% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | PNBK | UNH |
|---|---|---|
| 2022 | -31.8% | +6.9% |
| 2023 | -63.9% | +0.8% |
| 2024 | -49.3% | -2.4% |
| 2025 | -6.2% | -33.1% |
| 2026 | -43.7% | +21.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNBK and UNH good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between PNBK and UNH?
As of 2026-08-27, the correlation of weekly returns between PNBK and UNH is -0.27 over 3 years, 0.03 over 1 year and -0.24 over 5 years.
Is UNH a good diversifier for PNBK?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 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/pnbk-vs-unh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pnbk-vs-unh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PNBK correlations · UNH correlations
