ABBV vs CVS: Correlation
How closely do AbbVie (ABBV) and CVS Health (CVS) trade together? Their weekly returns over three years give a correlation of 0.28, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABBV and CVS?
On 3 years of weekly data the ABBV/CVS correlation comes out at 0.28, weak. The relationship has been stable: the 1-year correlation (0.29) sits close to the 3-year figure. The 5-year figure is 0.33, and annualized covariance runs at 255.0 %².
Among the 34 assets we track against ABBV, CVS ranks #20 by 3-year correlation. On 12-month performance CVS holds a 5.4-point edge, +27.9% against +33.3%. Across three years, the rolling one-year figure varied moderately, from 0.04 to 0.50.
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.
ABBV vs CVS: side by side
| ABBV (AbbVie) | CVS (CVS Health) | |
|---|---|---|
| 1-year return | +27.9% | +33.3% |
| 5-year return | +157.2% | +29.6% |
| Volatility (ann.) | 26.4% | 34.4% |
| Beta vs S&P 500 | 0.08 | 0.40 |
| Max drawdown (3Y) | -20.7% | -44.0% |
| Market cap | $456.2B | $118.8B |
| P/E (trailing) | 74.0 | 24.8 |
| Dividend yield | 2.60% | 2.82% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | ABBV | CVS |
|---|---|---|
| 2022 | +24.0% | -7.6% |
| 2023 | -0.2% | -12.5% |
| 2024 | +18.9% | -40.8% |
| 2025 | +33.1% | +84.3% |
| 2026 | +15.7% | +19.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABBV and CVS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ABBV and CVS?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with 0.29 over the last year and 0.33 over 5 years.
Is CVS a good diversifier for ABBV?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 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/abbv-vs-cvs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/abbv-vs-cvs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ABBV correlations · CVS correlations
