CVS vs NATH: Correlation
CVS Health (CVS) and Nathan's Famous, Inc. (NATH) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVS and NATH?
Over the past 3 years, CVS and NATH moved with a correlation of 0.38, which is moderate. The past 12 months show a weaker link (0.23) than the 3-year average (0.38). Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 332.9 %².
Among the 32 assets we track against CVS, NATH ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CVS outperformed by 38.8 percentage points (+33.3% for CVS against -5.5% for NATH).
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 NATH: side by side
| CVS (CVS Health) | NATH (Nathan's Famous, Inc.) | |
|---|---|---|
| 1-year return | +33.3% | -5.5% |
| 5-year return | +29.6% | +68.7% |
| Volatility (ann.) | 34.4% | 25.3% |
| Beta vs S&P 500 | 0.40 | 0.50 |
| Max drawdown (3Y) | -44.0% | -19.5% |
| Market cap | $118.8B | $0.4B |
| P/E (trailing) | 24.8 | 20.2 |
| Dividend yield | 2.82% | 2.05% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CVS | NATH |
|---|---|---|
| 2022 | -7.6% | +18.7% |
| 2023 | -12.5% | +19.2% |
| 2024 | -40.8% | +3.5% |
| 2025 | +84.3% | +24.6% |
| 2026 | +19.8% | +5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVS and NATH good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CVS and NATH?
As of 2026-08-27, the correlation of weekly returns between CVS and NATH is 0.38 over 3 years, 0.23 over 1 year and 0.36 over 5 years.
Is NATH a good diversifier for CVS?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cvs-vs-nath.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvs-vs-nath/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CVS correlations · NATH correlations
