CRVL vs KELYB: Correlation
CorVel Corp. (CRVL) and Kelly Services, Inc. (KELYB) 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 CRVL and KELYB?
Across a 3-year window, the weekly returns of CRVL and KELYB correlate at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.39) than the 3-year average (-0.29). Stretching to 5 years gives -0.16, with an annualized covariance of -595.2 %².
Among the 16 assets we track against CRVL, KELYB sits near the bottom by co-movement, at rank #16. Correlation aside, the last 12 months split them widely, with KELYB ahead by 85.8 points (-23.0% versus +62.8%). Note the risk asymmetry: KELYB runs 1.8 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.
CRVL vs KELYB: side by side
| CRVL (CorVel Corp.) | KELYB (Kelly Services, Inc.) | |
|---|---|---|
| 1-year return | -23.0% | +62.8% |
| 5-year return | +27.9% | +26.3% |
| Volatility (ann.) | 34.0% | 60.8% |
| Beta vs S&P 500 | 0.68 | 0.40 |
| Max drawdown (3Y) | -64.2% | -66.9% |
| Market cap | $3.5B | $0.8B |
| P/E (trailing) | 31.3 | – |
| Dividend yield | 0.00% | 1.38% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRVL | KELYB |
|---|---|---|
| 2022 | -30.1% | +3.1% |
| 2023 | +70.1% | +27.5% |
| 2024 | +35.0% | -34.7% |
| 2025 | -39.2% | -35.9% |
| 2026 | +2.6% | +170.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRVL and KELYB 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 CRVL and KELYB?
As of 2026-08-27, the correlation of weekly returns between CRVL and KELYB is -0.29 over 3 years, -0.39 over 1 year and -0.16 over 5 years.
Is KELYB a good diversifier for CRVL?
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/crvl-vs-kelyb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crvl-vs-kelyb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRVL correlations · KELYB correlations
