AFL vs CHE: Correlation
Measured on weekly returns over the past three years, Aflac (AFL) and Chemed Corp (CHE) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFL and CHE?
Across a 3-year window, the weekly returns of AFL and CHE correlate at 0.35, moderate. The link has loosened recently: the 1-year correlation (0.23) runs below the 3-year figure (0.35). Stretching to 5 years gives 0.28, with an annualized covariance of 174.0 %².
Within AFL's tracked universe of 32 assets, CHE comes in at #20 by 3-year correlation. Neither side won the trailing year by much: +10.8% against +14.9%.
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.
AFL vs CHE: side by side
| AFL (Aflac) | CHE (Chemed Corp) | |
|---|---|---|
| 1-year return | +10.8% | +14.9% |
| 5-year return | +131.3% | +12.2% |
| Volatility (ann.) | 19.2% | 26.0% |
| Beta vs S&P 500 | 0.36 | 0.21 |
| Max drawdown (3Y) | -13.6% | -42.9% |
| Market cap | $58.4B | $6.8B |
| P/E (trailing) | 12.6 | 27.6 |
| Dividend yield | 2.03% | 0.44% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AFL | CHE |
|---|---|---|
| 2022 | +26.4% | -3.2% |
| 2023 | +17.4% | +14.9% |
| 2024 | +28.1% | -9.1% |
| 2025 | +8.9% | -18.9% |
| 2026 | +7.4% | +22.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFL and CHE good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AFL and CHE?
The AFL/CHE correlation stands at 0.35 on a 3-year window (1 year: 0.23, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is CHE a good diversifier for AFL?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
A reading of 0.35 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/afl-vs-che.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/afl-vs-che/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AFL correlations · CHE correlations
