CAH vs DTM: Correlation
How closely do Cardinal Health (CAH) and DT Midstream, Inc. (DTM) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAH and DTM?
Across a 3-year window, the weekly returns of CAH and DTM correlate at 0.36, moderate. Little has changed lately, as the 1-year reading of 0.28 lands near the 3-year figure. Stretching to 5 years gives 0.38, with an annualized covariance of 205.9 %².
Among the 32 assets we track against CAH, DTM ranks #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CAH outperformed by 26.3 percentage points (+59.2% for CAH against +32.9% for DTM).
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 DTM: side by side
| CAH (Cardinal Health) | DTM (DT Midstream, Inc.) | |
|---|---|---|
| 1-year return | +59.2% | +32.9% |
| 5-year return | +409.0% | +248.3% |
| Volatility (ann.) | 24.2% | 23.9% |
| Beta vs S&P 500 | 0.31 | 0.42 |
| Max drawdown (3Y) | -20.4% | -23.6% |
| Market cap | $54.7B | $13.4B |
| P/E (trailing) | 33.0 | 29.1 |
| Dividend yield | 0.86% | 2.57% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CAH | DTM |
|---|---|---|
| 2022 | +54.1% | +20.7% |
| 2023 | +34.1% | +4.7% |
| 2024 | +19.0% | +88.9% |
| 2025 | +76.3% | +24.1% |
| 2026 | +15.2% | +11.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAH and DTM good diversifiers for each other?
Reasonably. At 0.36, CAH and DTM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CAH and DTM?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.28 over the last year and 0.38 over 5 years.
Is DTM a good diversifier for CAH?
Reasonably. At 0.36, CAH and DTM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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.
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Related comparisons
Hubs: CAH correlations · DTM correlations
