CI vs NVS: Correlation
Cigna (CI) and Novartis AG (NVS) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CI and NVS?
Across a 3-year window, the weekly returns of CI and NVS correlate at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Stretching to 5 years gives 0.40, with an annualized covariance of 211.5 %².
By 3-year correlation, NVS places #11 of the 30 assets tracked against CI. Their recent paths diverged sharply: over the last 12 months NVS outperformed by 31.0 percentage points (-5.4% for CI against +25.6% for NVS).
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 NVS: side by side
| CI (Cigna) | NVS (Novartis AG) | |
|---|---|---|
| 1-year return | -5.4% | +25.6% |
| 5-year return | +46.7% | +103.5% |
| Volatility (ann.) | 26.7% | 19.6% |
| Beta vs S&P 500 | 0.22 | 0.25 |
| Max drawdown (3Y) | -32.1% | -20.0% |
| Market cap | $73.4B | $293.9B |
| P/E (trailing) | 11.6 | 23.4 |
| Dividend yield | 2.19% | 2.96% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CI | NVS |
|---|---|---|
| 2022 | +46.7% | +8.1% |
| 2023 | -8.0% | +16.1% |
| 2024 | -6.3% | +0.0% |
| 2025 | +1.7% | +47.0% |
| 2026 | +2.0% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CI and NVS good diversifiers for each other?
Reasonably. At 0.40, CI and NVS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CI and NVS?
The CI/NVS correlation stands at 0.40 on a 3-year window (1 year: 0.50, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is NVS a good diversifier for CI?
Reasonably. At 0.40, CI and NVS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ci-vs-nvs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ci-vs-nvs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CI correlations · NVS correlations
