CAH vs FLS: Correlation
Cardinal Health (CAH) and Flowserve Corporation (FLS) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAH and FLS?
Across a 3-year window, the weekly returns of CAH and FLS correlate at 0.35, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.45 versus 0.35 over 3 years. Stretching to 5 years gives 0.38, with an annualized covariance of 317.2 %².
Among the 32 assets we track against CAH, FLS ranks #15 by 3-year correlation. The trailing year gives CAH the advantage: +59.2% versus +51.4%, a 7.8-point spread. Risk is not evenly split, since FLS carries 1.5 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 FLS: side by side
| CAH (Cardinal Health) | FLS (Flowserve Corporation) | |
|---|---|---|
| 1-year return | +59.2% | +51.4% |
| 5-year return | +409.0% | +131.6% |
| Volatility (ann.) | 24.2% | 37.2% |
| Beta vs S&P 500 | 0.31 | 1.43 |
| Max drawdown (3Y) | -20.4% | -38.8% |
| Market cap | $54.7B | $10.4B |
| P/E (trailing) | 33.0 | 28.8 |
| Dividend yield | 0.86% | 1.04% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CAH | FLS |
|---|---|---|
| 2022 | +54.1% | +3.1% |
| 2023 | +34.1% | +37.3% |
| 2024 | +19.0% | +41.9% |
| 2025 | +76.3% | +22.5% |
| 2026 | +15.2% | +18.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAH and FLS good diversifiers for each other?
Reasonably. At 0.35, CAH and FLS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CAH and FLS?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.45 over the last year and 0.38 over 5 years.
Is FLS a good diversifier for CAH?
Reasonably. At 0.35, CAH and FLS keep a meaningful degree of independence, and combining them has historically reduced portfolio 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.
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Related comparisons
Hubs: CAH correlations · FLS correlations
