COR vs DOCN: Correlation
Cencora (COR) and DigitalOcean Holdings, Inc. (DOCN) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COR and DOCN?
On 3 years of weekly data the COR/DOCN correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.49) than the 3-year average (-0.29). The 5-year figure is -0.11, and annualized covariance runs at -412.4 %².
Among the 43 assets we track against COR, DOCN ranks #38 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DOCN outperformed by 264.6 percentage points (+11.4% for COR against +276.0% for DOCN). Note the risk asymmetry: DOCN runs 3.0 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.
COR vs DOCN: side by side
| COR (Cencora) | DOCN (DigitalOcean Holdings, Inc.) | |
|---|---|---|
| 1-year return | +11.4% | +276.0% |
| 5-year return | +188.6% | +95.5% |
| Volatility (ann.) | 21.9% | 64.8% |
| Beta vs S&P 500 | 0.08 | 1.71 |
| Max drawdown (3Y) | -32.4% | -44.9% |
| Market cap | $61.3B | $14.3B |
| P/E (trailing) | 24.3 | 52.4 |
| Dividend yield | 0.72% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | COR | DOCN |
|---|---|---|
| 2022 | +26.3% | -68.3% |
| 2023 | +25.3% | +44.1% |
| 2024 | +10.4% | -7.1% |
| 2025 | +51.5% | +41.2% |
| 2026 | -4.3% | +152.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COR and DOCN good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between COR and DOCN?
The COR/DOCN correlation stands at -0.29 on a 3-year window (1 year: -0.49, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is DOCN a good diversifier for COR?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/cor-vs-docn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cor-vs-docn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COR correlations · DOCN correlations
