CCL vs RCL: Correlation
Measured on weekly returns over the past three years, Carnival Corporation (CCL) and Royal Caribbean Group (RCL) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCL and RCL?
Across a 3-year window, the weekly returns of CCL and RCL correlate at 0.82, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. Stretching to 5 years gives 0.84, with an annualized covariance of 1581.3 %².
In CCL's tracked universe of 40 assets, RCL sits right near the top at #2. Twelve-month performance is nearly a tie, at -21.6% for CCL and -19.3% for RCL. Stability stands out here, with the rolling one-year correlation confined to 0.75 through 0.88.
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 RCL: side by side
| CCL (Carnival Corporation) | RCL (Royal Caribbean Group) | |
|---|---|---|
| 1-year return | -21.6% | -19.3% |
| 5-year return | +7.3% | +257.6% |
| Volatility (ann.) | 46.5% | 41.3% |
| Beta vs S&P 500 | 1.72 | 1.46 |
| Max drawdown (3Y) | -42.3% | -35.0% |
| Market cap | $34.2B | $76.2B |
| P/E (trailing) | 11.5 | 17.9 |
| Dividend yield | 1.17% | 1.72% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | CCL | RCL |
|---|---|---|
| 2022 | -59.9% | -35.7% |
| 2023 | +130.0% | +162.0% |
| 2024 | +34.4% | +79.0% |
| 2025 | +22.6% | +22.5% |
| 2026 | -17.0% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCL and RCL good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between CCL and RCL?
The CCL/RCL correlation stands at 0.82 on a 3-year window (1 year: 0.77, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is RCL a good diversifier for CCL?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 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-rcl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccl-vs-rcl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CCL correlations · RCL correlations
