CAH vs RNR: Correlation
Cardinal Health (CAH) and RenaissanceRe Holdings Ltd. (RNR) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAH and RNR?
Across a 3-year window, the weekly returns of CAH and RNR correlate at 0.35, moderate. The link has tightened recently: the 1-year correlation (0.47) runs above the 3-year figure (0.35). Stretching to 5 years gives 0.34, with an annualized covariance of 179.5 %².
Among the 32 assets we track against CAH, RNR ranks #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CAH outperformed by 23.4 percentage points (+59.2% for CAH against +35.8% for RNR).
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 RNR: side by side
| CAH (Cardinal Health) | RNR (RenaissanceRe Holdings Ltd.) | |
|---|---|---|
| 1-year return | +59.2% | +35.8% |
| 5-year return | +409.0% | +120.0% |
| Volatility (ann.) | 24.2% | 21.1% |
| Beta vs S&P 500 | 0.31 | 0.09 |
| Max drawdown (3Y) | -20.4% | -23.1% |
| Market cap | $54.7B | $13.7B |
| P/E (trailing) | 33.0 | 5.7 |
| Dividend yield | 0.86% | 0.49% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CAH | RNR |
|---|---|---|
| 2022 | +54.1% | +9.9% |
| 2023 | +34.1% | +7.2% |
| 2024 | +19.0% | +27.8% |
| 2025 | +76.3% | +13.6% |
| 2026 | +15.2% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAH and RNR good diversifiers for each other?
Reasonably. At 0.35, CAH and RNR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CAH and RNR?
The CAH/RNR correlation stands at 0.35 on a 3-year window (1 year: 0.47, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is RNR a good diversifier for CAH?
Reasonably. At 0.35, CAH and RNR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cah-vs-rnr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cah-vs-rnr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CAH correlations · RNR correlations
