CAH vs MCK: Correlation
Cardinal Health (CAH) and McKesson Corporation (MCK) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAH and MCK?
Over the past 3 years, CAH and MCK moved with a correlation of 0.48, which is moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 291.5 %².
In CAH's tracked universe of 32 assets, MCK sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months CAH outperformed by 28.4 percentage points (+59.2% for CAH against +30.8% for MCK). Across three years, the rolling one-year figure varied moderately, from 0.29 to 0.73.
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 MCK: side by side
| CAH (Cardinal Health) | MCK (McKesson Corporation) | |
|---|---|---|
| 1-year return | +59.2% | +30.8% |
| 5-year return | +409.0% | +354.8% |
| Volatility (ann.) | 24.2% | 25.1% |
| Beta vs S&P 500 | 0.31 | 0.16 |
| Max drawdown (3Y) | -20.4% | -27.2% |
| Market cap | $54.7B | $103.8B |
| P/E (trailing) | 33.0 | 24.0 |
| Dividend yield | 0.86% | 0.37% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | CAH | MCK |
|---|---|---|
| 2022 | +54.1% | +51.8% |
| 2023 | +34.1% | +24.1% |
| 2024 | +19.0% | +23.7% |
| 2025 | +76.3% | +44.5% |
| 2026 | +15.2% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAH and MCK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CAH and MCK?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.58 over the last year and 0.57 over 5 years.
Is MCK a good diversifier for CAH?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 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-mck.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cah-vs-mck/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CAH correlations · MCK correlations
