CCL vs KEY: Correlation
Carnival Corporation (CCL) and KeyCorp (KEY) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCL and KEY?
Across a 3-year window, the weekly returns of CCL and KEY correlate at 0.64, strong. The past 12 months show a weaker link (0.53) than the 3-year average (0.64). Stretching to 5 years gives 0.54, with an annualized covariance of 951.3 %².
Within CCL's tracked universe of 40 assets, KEY comes in at #7 by 3-year correlation. The last year tells two different stories: KEY led by 40.0 percentage points, -21.6% for CCL against +18.4% for KEY. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.30 to 0.81.
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 KEY: side by side
| CCL (Carnival Corporation) | KEY (KeyCorp) | |
|---|---|---|
| 1-year return | -21.6% | +18.4% |
| 5-year return | +7.3% | +38.0% |
| Volatility (ann.) | 46.5% | 32.1% |
| Beta vs S&P 500 | 1.72 | 1.25 |
| Max drawdown (3Y) | -42.3% | -32.2% |
| Market cap | $34.2B | $23.5B |
| P/E (trailing) | 11.5 | 13.0 |
| Dividend yield | 1.17% | 3.71% |
| Sector / category | Consumer Discretionary | Financials |
Year-by-year returns
| Year | CCL | KEY |
|---|---|---|
| 2022 | -59.9% | -21.7% |
| 2023 | +130.0% | -11.5% |
| 2024 | +34.4% | +25.3% |
| 2025 | +22.6% | +26.2% |
| 2026 | -17.0% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCL and KEY good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CCL and KEY?
The CCL/KEY correlation stands at 0.64 on a 3-year window (1 year: 0.53, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is KEY a good diversifier for CCL?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 mean?
A reading of 0.64 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/ccl-vs-key.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccl-vs-key/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCL correlations · KEY correlations
