CAH vs HGTY: Correlation
How closely do Cardinal Health (CAH) and Hagerty, Inc. (HGTY) 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 HGTY?
Over the past 3 years, CAH and HGTY moved with a correlation of 0.36, which is moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. Over 5 years the correlation is 0.21, and the annualized covariance of weekly returns is 258.6 %².
Among the 32 assets we track against CAH, HGTY ranks #13 by 3-year correlation. The last year tells two different stories: CAH led by 39.6 percentage points, +59.2% for CAH against +19.6% for HGTY.
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 HGTY: side by side
| CAH (Cardinal Health) | HGTY (Hagerty, Inc.) | |
|---|---|---|
| 1-year return | +59.2% | +19.6% |
| 5-year return | +409.0% | +32.9% |
| Volatility (ann.) | 24.2% | 29.7% |
| Beta vs S&P 500 | 0.31 | 0.63 |
| Max drawdown (3Y) | -20.4% | -31.1% |
| Market cap | $54.7B | $4.6B |
| P/E (trailing) | 33.0 | 102.5 |
| Dividend yield | 0.86% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CAH | HGTY |
|---|---|---|
| 2022 | +54.1% | -40.7% |
| 2023 | +34.1% | -7.3% |
| 2024 | +19.0% | +23.7% |
| 2025 | +76.3% | +39.3% |
| 2026 | +15.2% | -0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAH and HGTY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CAH and HGTY?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.42 over the last year and 0.21 over 5 years.
Is HGTY a good diversifier for CAH?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: CAH correlations · HGTY correlations
