CCL vs HLT: Correlation
How closely do Carnival Corporation (CCL) and Hilton Worldwide (HLT) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCL and HLT?
Across a 3-year window, the weekly returns of CCL and HLT correlate at 0.57, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.57 over 3. Stretching to 5 years gives 0.63, with an annualized covariance of 547.7 %².
By 3-year correlation, HLT places #17 of the 40 assets tracked against CCL. The last year tells two different stories: HLT led by 39.7 percentage points, -21.6% for CCL against +18.1% for HLT. Across three years, the rolling one-year figure varied moderately, from 0.42 to 0.74. Risk is not evenly split, since CCL 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.
CCL vs HLT: side by side
| CCL (Carnival Corporation) | HLT (Hilton Worldwide) | |
|---|---|---|
| 1-year return | -21.6% | +18.1% |
| 5-year return | +7.3% | +162.7% |
| Volatility (ann.) | 46.5% | 20.7% |
| Beta vs S&P 500 | 1.72 | 0.85 |
| Max drawdown (3Y) | -42.3% | -26.4% |
| Market cap | $34.2B | $73.3B |
| P/E (trailing) | 11.5 | 47.8 |
| Dividend yield | 1.17% | 0.18% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | CCL | HLT |
|---|---|---|
| 2022 | -59.9% | -18.7% |
| 2023 | +130.0% | +44.7% |
| 2024 | +34.4% | +36.1% |
| 2025 | +22.6% | +16.5% |
| 2026 | -17.0% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCL and HLT good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CCL and HLT?
As of 2026-08-27, the correlation of weekly returns between CCL and HLT is 0.57 over 3 years, 0.48 over 1 year and 0.63 over 5 years.
Is HLT a good diversifier for CCL?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ccl-vs-hlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ccl-vs-hlt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCL correlations · HLT correlations
