CCL vs RF: Correlation
Measured on weekly returns over the past three years, Carnival Corporation (CCL) and Regions Financial Corporation (RF) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCL and RF?
Across a 3-year window, the weekly returns of CCL and RF correlate at 0.62, strong. The link has loosened recently: the 1-year correlation (0.49) runs below the 3-year figure (0.62). Stretching to 5 years gives 0.55, with an annualized covariance of 839.2 %².
By 3-year correlation, RF places #14 of the 40 assets tracked against CCL. The last year tells two different stories: RF led by 37.0 percentage points, -21.6% for CCL against +15.4% for RF. The rolling one-year correlation moved between 0.42 and 0.78 over the past three years, a moderate range. Note the risk asymmetry: CCL runs 1.6 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 RF: side by side
| CCL (Carnival Corporation) | RF (Regions Financial Corporation) | |
|---|---|---|
| 1-year return | -21.6% | +15.4% |
| 5-year return | +7.3% | +83.5% |
| Volatility (ann.) | 46.5% | 29.2% |
| Beta vs S&P 500 | 1.72 | 1.09 |
| Max drawdown (3Y) | -42.3% | -31.9% |
| Market cap | $34.2B | $25.9B |
| P/E (trailing) | 11.5 | 12.4 |
| Dividend yield | 1.17% | 3.45% |
| Sector / category | Consumer Discretionary | Financials |
Year-by-year returns
| Year | CCL | RF |
|---|---|---|
| 2022 | -59.9% | +2.3% |
| 2023 | +130.0% | -5.7% |
| 2024 | +34.4% | +27.0% |
| 2025 | +22.6% | +20.2% |
| 2026 | -17.0% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCL and RF 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 RF?
As of 2026-08-27, the correlation of weekly returns between CCL and RF is 0.62 over 3 years, 0.49 over 1 year and 0.55 over 5 years.
Is RF 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-rf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ccl-vs-rf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CCL correlations · RF correlations
