CI vs ELV: Correlation
Measured on weekly returns over the past three years, Cigna (CI) and Elevance Health (ELV) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CI and ELV?
On 3 years of weekly data the CI/ELV correlation comes out at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 329.2 %².
Within CI's tracked universe of 30 assets, ELV comes in at #5 by 3-year correlation. The last year tells two different stories: ELV led by 36.9 percentage points, -5.4% for CI against +31.5% for ELV. On a rolling one-year basis the correlation drifted between 0.25 and 0.73, 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 ELV: side by side
| CI (Cigna) | ELV (Elevance Health) | |
|---|---|---|
| 1-year return | -5.4% | +31.5% |
| 5-year return | +46.7% | +15.7% |
| Volatility (ann.) | 26.7% | 28.0% |
| Beta vs S&P 500 | 0.22 | 0.37 |
| Max drawdown (3Y) | -32.1% | -50.4% |
| Market cap | $73.4B | $86.6B |
| P/E (trailing) | 11.6 | 17.8 |
| Dividend yield | 2.19% | 1.70% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | CI | ELV |
|---|---|---|
| 2022 | +46.7% | +11.8% |
| 2023 | -8.0% | -6.9% |
| 2024 | -6.3% | -20.7% |
| 2025 | +1.7% | -3.1% |
| 2026 | +2.0% | +15.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CI and ELV good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CI and ELV?
As of 2026-08-27, the correlation of weekly returns between CI and ELV is 0.44 over 3 years, 0.50 over 1 year and 0.54 over 5 years.
Is ELV a good diversifier for CI?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 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/ci-vs-elv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ci-vs-elv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CI correlations · ELV correlations
