CAH vs JNJ: Correlation
How closely do Cardinal Health (CAH) and Johnson & Johnson (JNJ) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAH and JNJ?
Across a 3-year window, the weekly returns of CAH and JNJ correlate at 0.33, moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 149.2 %².
By 3-year correlation, JNJ places #17 of the 32 assets tracked against CAH. Over the last 12 months CAH came out ahead by 5.5 percentage points (+59.2% against +53.7%). This link changes with the market regime, having swung between -0.04 and 0.50 on a rolling one-year basis.
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 JNJ: side by side
| CAH (Cardinal Health) | JNJ (Johnson & Johnson) | |
|---|---|---|
| 1-year return | +59.2% | +53.7% |
| 5-year return | +409.0% | +76.0% |
| Volatility (ann.) | 24.2% | 18.5% |
| Beta vs S&P 500 | 0.31 | 0.05 |
| Max drawdown (3Y) | -20.4% | -14.4% |
| Market cap | $54.7B | $640.5B |
| P/E (trailing) | 33.0 | 30.9 |
| Dividend yield | 0.86% | 1.94% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | CAH | JNJ |
|---|---|---|
| 2022 | +54.1% | +6.0% |
| 2023 | +34.1% | -8.6% |
| 2024 | +19.0% | -4.8% |
| 2025 | +76.3% | +47.5% |
| 2026 | +15.2% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAH and JNJ good diversifiers for each other?
Reasonably. At 0.33, CAH and JNJ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CAH and JNJ?
As of 2026-08-27, the correlation of weekly returns between CAH and JNJ is 0.33 over 3 years, 0.42 over 1 year and 0.35 over 5 years.
Is JNJ a good diversifier for CAH?
Reasonably. At 0.33, CAH and JNJ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
A reading of 0.33 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-jnj.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cah-vs-jnj/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CAH correlations · JNJ correlations
