CI vs CVS: Correlation
How closely do Cigna (CI) and CVS Health (CVS) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CI and CVS?
Over the past 3 years, CI and CVS moved with a correlation of 0.44, which is moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 400.6 %².
By 3-year correlation, CVS places #4 of the 30 assets tracked against CI. The last year tells two different stories: CVS led by 38.7 percentage points, -5.4% for CI against +33.3% for CVS. On a rolling one-year basis the correlation drifted between 0.34 and 0.62, a moderate band.
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.
CI vs CVS: side by side
| CI (Cigna) | CVS (CVS Health) | |
|---|---|---|
| 1-year return | -5.4% | +33.3% |
| 5-year return | +46.7% | +29.6% |
| Volatility (ann.) | 26.7% | 34.4% |
| Beta vs S&P 500 | 0.22 | 0.40 |
| Max drawdown (3Y) | -32.1% | -44.0% |
| Market cap | $73.4B | $118.8B |
| P/E (trailing) | 11.6 | 24.8 |
| Dividend yield | 2.19% | 2.82% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | CI | CVS |
|---|---|---|
| 2022 | +46.7% | -7.6% |
| 2023 | -8.0% | -12.5% |
| 2024 | -6.3% | -40.8% |
| 2025 | +1.7% | +84.3% |
| 2026 | +2.0% | +19.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CI and CVS good diversifiers for each other?
Reasonably. At 0.44, CI and CVS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CI and CVS?
As of 2026-08-27, the correlation of weekly returns between CI and CVS is 0.44 over 3 years, 0.45 over 1 year and 0.47 over 5 years.
Is CVS a good diversifier for CI?
Reasonably. At 0.44, CI and CVS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/ci-vs-cvs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ci-vs-cvs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CI correlations · CVS correlations
