CAH vs OGN: Correlation
Cardinal Health (CAH) and Organon & Co. (OGN) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAH and OGN?
On 3 years of weekly data the CAH/OGN correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. The 5-year figure is -0.07, and annualized covariance runs at -290.2 %².
Within CAH's tracked universe of 32 assets, OGN comes in at #24 by 3-year correlation. The trailing year gives CAH the advantage: +59.2% versus +50.8%, a 8.4-point spread. Risk is not evenly split, since OGN carries 2.2 times the volatility of the other side.
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 OGN: side by side
| CAH (Cardinal Health) | OGN (Organon & Co.) | |
|---|---|---|
| 1-year return | +59.2% | +50.8% |
| 5-year return | +409.0% | -50.3% |
| Volatility (ann.) | 24.2% | 53.4% |
| Beta vs S&P 500 | 0.31 | 0.88 |
| Max drawdown (3Y) | -20.4% | -74.1% |
| Market cap | $54.7B | $3.6B |
| P/E (trailing) | 33.0 | 17.6 |
| Dividend yield | 0.86% | 0.58% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CAH | OGN |
|---|---|---|
| 2022 | +54.1% | -4.9% |
| 2023 | +34.1% | -45.1% |
| 2024 | +19.0% | +9.9% |
| 2025 | +76.3% | -50.7% |
| 2026 | +15.2% | +93.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAH and OGN good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between CAH and OGN?
The CAH/OGN correlation stands at -0.22 on a 3-year window (1 year: -0.26, 5 years: -0.07), computed from weekly returns as of 2026-08-27.
Is OGN a good diversifier for CAH?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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-ogn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cah-vs-ogn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CAH correlations · OGN correlations
