CAH vs HIG: Correlation
Measured on weekly returns over the past three years, Cardinal Health (CAH) and Hartford (The) (HIG) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAH and HIG?
Over the past 3 years, CAH and HIG moved with a correlation of 0.38, which is moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.38 over 3. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 177.4 %².
By 3-year correlation, HIG places #9 of the 32 assets tracked against CAH. Their recent paths diverged sharply: over the last 12 months CAH outperformed by 53.8 percentage points (+59.2% for CAH against +5.4% for HIG). On a rolling one-year basis the correlation drifted between 0.27 and 0.62, 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.
CAH vs HIG: side by side
| CAH (Cardinal Health) | HIG (Hartford (The)) | |
|---|---|---|
| 1-year return | +59.2% | +5.4% |
| 5-year return | +409.0% | +127.4% |
| Volatility (ann.) | 24.2% | 19.5% |
| Beta vs S&P 500 | 0.31 | 0.39 |
| Max drawdown (3Y) | -20.4% | -13.7% |
| Market cap | $54.7B | $37.3B |
| P/E (trailing) | 33.0 | 9.7 |
| Dividend yield | 0.86% | 1.66% |
| Sector / category | Health Care | Financials |
Year-by-year returns
| Year | CAH | HIG |
|---|---|---|
| 2022 | +54.1% | +12.3% |
| 2023 | +34.1% | +8.5% |
| 2024 | +19.0% | +38.5% |
| 2025 | +76.3% | +28.1% |
| 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 HIG good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CAH and HIG?
The CAH/HIG correlation stands at 0.38 on a 3-year window (1 year: 0.36, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is HIG a good diversifier for CAH?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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
$ curl https://www.pairbook.io/api/v1/pairs/cah-vs-hig.json
Markdown for the live badge, attribution link included:
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CAH correlations · HIG correlations
