CVS vs UNH: Correlation
CVS Health (CVS) and UnitedHealth Group (UNH) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVS and UNH?
On 3 years of weekly data the CVS/UNH correlation comes out at 0.44, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.63 versus 0.44 over 3 years. The 5-year figure is 0.47, and annualized covariance runs at 608.5 %².
Few assets follow CVS as closely as UNH, which ranks #2 of 32 tracked partners. Neither side won the trailing year by much: +33.3% against +33.5%. Across three years, the rolling one-year figure varied moderately, from 0.32 to 0.61.
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 UNH: side by side
| CVS (CVS Health) | UNH (UnitedHealth Group) | |
|---|---|---|
| 1-year return | +33.3% | +33.5% |
| 5-year return | +29.6% | +3.1% |
| Volatility (ann.) | 34.4% | 39.8% |
| Beta vs S&P 500 | 0.40 | 0.17 |
| Max drawdown (3Y) | -44.0% | -61.4% |
| Market cap | $118.8B | $354.6B |
| P/E (trailing) | 24.8 | 25.8 |
| Dividend yield | 2.82% | 2.23% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | CVS | UNH |
|---|---|---|
| 2022 | -7.6% | +6.9% |
| 2023 | -12.5% | +0.8% |
| 2024 | -40.8% | -2.4% |
| 2025 | +84.3% | -33.1% |
| 2026 | +19.8% | +21.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVS and UNH good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CVS and UNH?
As of 2026-08-27, the correlation of weekly returns between CVS and UNH is 0.44 over 3 years, 0.63 over 1 year and 0.47 over 5 years.
Is UNH a good diversifier for CVS?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 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-unh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cvs-vs-unh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CVS correlations · UNH correlations
