CAH vs L: Correlation
How closely do Cardinal Health (CAH) and Loews Corporation (L) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAH and L?
On 3 years of weekly data the CAH/L correlation comes out at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. The 5-year figure is 0.48, and annualized covariance runs at 187.6 %².
L is one of the assets that tracks CAH most closely: it ranks #3 out of the 32 assets we track against CAH. The last year tells two different stories: CAH led by 45.0 percentage points, +59.2% for CAH against +14.2% for L. Stability stands out here, with the rolling one-year correlation confined to 0.35 through 0.56.
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 L: side by side
| CAH (Cardinal Health) | L (Loews Corporation) | |
|---|---|---|
| 1-year return | +59.2% | +14.2% |
| 5-year return | +409.0% | +100.1% |
| Volatility (ann.) | 24.2% | 16.6% |
| Beta vs S&P 500 | 0.31 | 0.33 |
| Max drawdown (3Y) | -20.4% | -12.2% |
| Market cap | $54.7B | $22.5B |
| P/E (trailing) | 33.0 | 13.5 |
| Dividend yield | 0.86% | 0.23% |
| Sector / category | Health Care | Financials |
Year-by-year returns
| Year | CAH | L |
|---|---|---|
| 2022 | +54.1% | +1.4% |
| 2023 | +34.1% | +19.8% |
| 2024 | +19.0% | +22.1% |
| 2025 | +76.3% | +24.7% |
| 2026 | +15.2% | +4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAH and L good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CAH and L?
As of 2026-08-27, the correlation of weekly returns between CAH and L is 0.47 over 3 years, 0.50 over 1 year and 0.48 over 5 years.
Is L a good diversifier for CAH?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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-l.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cah-vs-l/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CAH correlations · L correlations
