CAH vs CHNR: Correlation
Cardinal Health (CAH) and China Natural Resources, Inc. (CHNR) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAH and CHNR?
Across a 3-year window, the weekly returns of CAH and CHNR correlate at -0.24, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.49) runs below the 3-year figure (-0.24). Stretching to 5 years gives -0.08, with an annualized covariance of -491.5 %².
Among the 32 assets we track against CAH, CHNR sits near the bottom by co-movement, at rank #30. The last year tells two different stories: CAH led by 51.0 percentage points, +59.2% for CAH against +8.2% for CHNR. Risk is not evenly split, since CHNR carries 3.4 times the volatility of the other side.
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.
CAH vs CHNR: side by side
| CAH (Cardinal Health) | CHNR (China Natural Resources, Inc.) | |
|---|---|---|
| 1-year return | +59.2% | +8.2% |
| 5-year return | +409.0% | -91.7% |
| Volatility (ann.) | 24.2% | 83.4% |
| Beta vs S&P 500 | 0.31 | 0.65 |
| Max drawdown (3Y) | -20.4% | -88.4% |
| Market cap | $54.7B | – |
| P/E (trailing) | 33.0 | – |
| Dividend yield | 0.86% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CAH | CHNR |
|---|---|---|
| 2022 | +54.1% | -34.5% |
| 2023 | +34.1% | -16.3% |
| 2024 | +19.0% | -57.2% |
| 2025 | +76.3% | -33.8% |
| 2026 | +15.2% | +13.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAH and CHNR good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CAH and CHNR?
The CAH/CHNR correlation stands at -0.24 on a 3-year window (1 year: -0.49, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is CHNR a good diversifier for CAH?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CAH correlations · CHNR correlations
