CRL vs DHR: Correlation
How closely do Charles River Laboratories (CRL) and Danaher Corporation (DHR) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRL and DHR?
Across a 3-year window, the weekly returns of CRL and DHR correlate at 0.56, moderate. The link has tightened recently: the 1-year correlation (0.74) runs above the 3-year figure (0.56). Stretching to 5 years gives 0.61, with an annualized covariance of 786.5 %².
Among the 33 assets we track against CRL, DHR ranks #9 by 3-year correlation. The last year tells two different stories: CRL led by 76.1 percentage points, +82.1% for CRL against +6.0% for DHR. The rolling one-year correlation moved between 0.29 and 0.75 over the past three years, a moderate range. Note the risk asymmetry: CRL runs 1.6 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.
CRL vs DHR: side by side
| CRL (Charles River Laboratories) | DHR (Danaher Corporation) | |
|---|---|---|
| 1-year return | +82.1% | +6.0% |
| 5-year return | -33.3% | -23.8% |
| Volatility (ann.) | 47.9% | 29.5% |
| Beta vs S&P 500 | 0.92 | 0.82 |
| Max drawdown (3Y) | -63.5% | -41.7% |
| Market cap | $14.3B | $151.6B |
| P/E (trailing) | – | 38.4 |
| Dividend yield | 0.00% | 0.67% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | CRL | DHR |
|---|---|---|
| 2022 | -42.2% | -19.0% |
| 2023 | +8.5% | -1.2% |
| 2024 | -21.9% | -0.3% |
| 2025 | +8.1% | +0.4% |
| 2026 | +48.6% | -5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRL and DHR good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CRL and DHR?
The CRL/DHR correlation stands at 0.56 on a 3-year window (1 year: 0.74, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is DHR a good diversifier for CRL?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CRL correlations · DHR correlations
