CDNA vs LAD: Correlation
How closely do CareDx, Inc. (CDNA) and Lithia Motors, Inc. (LAD) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDNA and LAD?
Across a 3-year window, the weekly returns of CDNA and LAD correlate at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.28 lands near the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 1128.1 %².
By 3-year correlation, LAD places #4 of the 10 assets tracked against CDNA. The last year tells two different stories: CDNA led by 284.0 percentage points, +294.0% for CDNA against +10.0% for LAD. One caveat on sizing: CDNA is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CDNA vs LAD: side by side
| CDNA (CareDx, Inc.) | LAD (Lithia Motors, Inc.) | |
|---|---|---|
| 1-year return | +294.0% | +10.0% |
| 5-year return | -35.0% | +17.3% |
| Volatility (ann.) | 83.5% | 35.4% |
| Beta vs S&P 500 | 1.46 | 1.11 |
| Max drawdown (3Y) | -66.0% | -37.8% |
| Market cap | $2.7B | $8.2B |
| P/E (trailing) | 24.5 | 12.3 |
| Dividend yield | 0.00% | 0.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDNA | LAD |
|---|---|---|
| 2022 | -74.9% | -30.6% |
| 2023 | +5.2% | +62.0% |
| 2024 | +78.4% | +9.3% |
| 2025 | -12.0% | -6.3% |
| 2026 | +177.9% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDNA and LAD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CDNA and LAD?
As of 2026-08-27, the correlation of weekly returns between CDNA and LAD is 0.38 over 3 years, 0.28 over 1 year and 0.35 over 5 years.
Is LAD a good diversifier for CDNA?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 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/cdna-vs-lad.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cdna-vs-lad/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CDNA correlations · LAD correlations
