CVS vs DVA: Correlation
Measured on weekly returns over the past three years, CVS Health (CVS) and DaVita (DVA) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVS and DVA?
On 3 years of weekly data the CVS/DVA correlation comes out at 0.27, weak. The link has tightened recently: the 1-year correlation (0.54) runs above the 3-year figure (0.27). The 5-year figure is 0.25, and annualized covariance runs at 377.2 %².
Within CVS's tracked universe of 32 assets, DVA comes in at #19 by 3-year correlation. Their 12-month results are close: +33.3% for CVS against +30.0% for DVA. On a rolling one-year basis the correlation drifted between 0.09 and 0.54, 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.
CVS vs DVA: side by side
| CVS (CVS Health) | DVA (DaVita) | |
|---|---|---|
| 1-year return | +33.3% | +30.0% |
| 5-year return | +29.6% | +36.4% |
| Volatility (ann.) | 34.4% | 40.9% |
| Beta vs S&P 500 | 0.40 | 0.38 |
| Max drawdown (3Y) | -44.0% | -41.4% |
| Market cap | $118.8B | $11.4B |
| P/E (trailing) | 24.8 | 15.3 |
| Dividend yield | 2.82% | 0.00% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | CVS | DVA |
|---|---|---|
| 2022 | -7.6% | -34.4% |
| 2023 | -12.5% | +40.3% |
| 2024 | -40.8% | +42.8% |
| 2025 | +84.3% | -24.0% |
| 2026 | +19.8% | +57.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVS and DVA good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CVS and DVA?
The CVS/DVA correlation stands at 0.27 on a 3-year window (1 year: 0.54, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is DVA a good diversifier for CVS?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
On the −1 to +1 scale, 0.27 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/cvs-vs-dva.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvs-vs-dva/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CVS correlations · DVA correlations
