CCL vs CFG: Correlation
Carnival Corporation (CCL) and Citizens Financial Group (CFG) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCL and CFG?
Across a 3-year window, the weekly returns of CCL and CFG correlate at 0.62, strong. The link has loosened recently: the 1-year correlation (0.50) runs below the 3-year figure (0.62). Stretching to 5 years gives 0.54, with an annualized covariance of 888.4 %².
Within CCL's tracked universe of 40 assets, CFG comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CFG outperformed by 60.9 percentage points (-21.6% for CCL against +39.3% for CFG). The rolling one-year correlation moved between 0.35 and 0.78 over the past three years, a moderate range. One caveat on sizing: CCL is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CCL vs CFG: side by side
| CCL (Carnival Corporation) | CFG (Citizens Financial Group) | |
|---|---|---|
| 1-year return | -21.6% | +39.3% |
| 5-year return | +7.3% | +98.3% |
| Volatility (ann.) | 46.5% | 31.0% |
| Beta vs S&P 500 | 1.72 | 1.16 |
| Max drawdown (3Y) | -42.3% | -29.1% |
| Market cap | $34.2B | $29.6B |
| P/E (trailing) | 11.5 | 15.4 |
| Dividend yield | 1.17% | 2.55% |
| Sector / category | Consumer Discretionary | Financials |
Year-by-year returns
| Year | CCL | CFG |
|---|---|---|
| 2022 | -59.9% | -13.4% |
| 2023 | +130.0% | -11.0% |
| 2024 | +34.4% | +38.0% |
| 2025 | +22.6% | +38.6% |
| 2026 | -17.0% | +22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCL and CFG good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CCL and CFG?
The CCL/CFG correlation stands at 0.62 on a 3-year window (1 year: 0.50, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is CFG a good diversifier for CCL?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 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/ccl-vs-cfg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ccl-vs-cfg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCL correlations · CFG correlations
