BMY vs CAH: Correlation
Measured on weekly returns over the past three years, Bristol Myers Squibb (BMY) and Cardinal Health (CAH) 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 BMY and CAH?
On 3 years of weekly data the BMY/CAH correlation comes out at 0.35, moderate. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. The 5-year figure is 0.38, and annualized covariance runs at 232.5 %².
Within BMY's tracked universe of 31 assets, CAH comes in at #19 by 3-year correlation. The trailing year gives CAH the advantage: +47.3% versus +59.2%, a 11.9-point spread. On a rolling one-year basis the correlation drifted between 0.16 and 0.56, a moderate band.
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.
BMY vs CAH: side by side
| BMY (Bristol Myers Squibb) | CAH (Cardinal Health) | |
|---|---|---|
| 1-year return | +47.3% | +59.2% |
| 5-year return | +22.3% | +409.0% |
| Volatility (ann.) | 27.8% | 24.2% |
| Beta vs S&P 500 | 0.20 | 0.31 |
| Max drawdown (3Y) | -34.1% | -20.4% |
| Market cap | $136.8B | $54.7B |
| P/E (trailing) | 14.9 | 33.0 |
| Dividend yield | 3.71% | 0.86% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | BMY | CAH |
|---|---|---|
| 2022 | +19.0% | +54.1% |
| 2023 | -26.1% | +34.1% |
| 2024 | +15.8% | +19.0% |
| 2025 | +0.1% | +76.3% |
| 2026 | +28.3% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMY and CAH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BMY and CAH?
The BMY/CAH correlation stands at 0.35 on a 3-year window (1 year: 0.32, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is CAH a good diversifier for BMY?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
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
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bmy-vs-cah/)
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Related comparisons
Hubs: BMY correlations · CAH correlations
