CCL vs DRI: Correlation
How closely do Carnival Corporation (CCL) and Darden Restaurants (DRI) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCL and DRI?
Across a 3-year window, the weekly returns of CCL and DRI correlate at 0.40, moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. Stretching to 5 years gives 0.49, with an annualized covariance of 467.0 %².
By 3-year correlation, DRI places #28 of the 40 assets tracked against CCL. Correlation aside, the last 12 months split them widely, with DRI ahead by 27.2 points (-21.6% versus +5.6%). On a rolling one-year basis the correlation drifted between 0.28 and 0.56, a moderate band. Note the risk asymmetry: CCL runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 DRI: side by side
| CCL (Carnival Corporation) | DRI (Darden Restaurants) | |
|---|---|---|
| 1-year return | -21.6% | +5.6% |
| 5-year return | +7.3% | +66.1% |
| Volatility (ann.) | 46.5% | 25.2% |
| Beta vs S&P 500 | 1.72 | 0.52 |
| Max drawdown (3Y) | -42.3% | -23.9% |
| Market cap | $34.2B | $24.0B |
| P/E (trailing) | 11.5 | 21.0 |
| Dividend yield | 1.17% | 2.74% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | CCL | DRI |
|---|---|---|
| 2022 | -59.9% | -4.8% |
| 2023 | +130.0% | +22.8% |
| 2024 | +34.4% | +17.7% |
| 2025 | +22.6% | +1.6% |
| 2026 | -17.0% | +17.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCL and DRI good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CCL and DRI?
As of 2026-08-27, the correlation of weekly returns between CCL and DRI is 0.40 over 3 years, 0.42 over 1 year and 0.49 over 5 years.
Is DRI a good diversifier for CCL?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CCL correlations · DRI correlations
