ADV vs MCK: Correlation
Advantage Solutions Inc. (ADV) and McKesson Corporation (MCK) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADV and MCK?
Over the past 3 years, ADV and MCK moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.21 over 3 years. Over 5 years the correlation is -0.03, and the annualized covariance of weekly returns is -425.2 %².
MCK is close to the least connected end of ADV's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months MCK outperformed by 58.1 percentage points (-27.3% for ADV against +30.8% for MCK). Note the risk asymmetry: ADV runs 3.3 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.
ADV vs MCK: side by side
| ADV (Advantage Solutions Inc.) | MCK (McKesson Corporation) | |
|---|---|---|
| 1-year return | -27.3% | +30.8% |
| 5-year return | -84.9% | +354.8% |
| Volatility (ann.) | 82.5% | 25.1% |
| Beta vs S&P 500 | 1.06 | 0.16 |
| Max drawdown (3Y) | -89.3% | -27.2% |
| Market cap | $0.4B | $103.8B |
| P/E (trailing) | – | 24.0 |
| Dividend yield | 0.00% | 0.37% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ADV | MCK |
|---|---|---|
| 2022 | -74.1% | +51.8% |
| 2023 | +74.0% | +24.1% |
| 2024 | -19.3% | +23.7% |
| 2025 | -69.9% | +44.5% |
| 2026 | +52.0% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADV and MCK good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ADV and MCK?
As of 2026-08-27, the correlation of weekly returns between ADV and MCK is -0.21 over 3 years, -0.35 over 1 year and -0.03 over 5 years.
Is MCK a good diversifier for ADV?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
A reading of -0.21 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/adv-vs-mck.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adv-vs-mck/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ADV correlations · MCK correlations
