ICLR vs. CI

Last updated Jun 6, 2026

ICLR (ICON Public Limited Company) and CI (Cigna Corporation) are both stocks. Both are in the Healthcare sector — ICLR in Diagnostics & Research, CI in Healthcare Plans. Over the past 10 years, ICLR returned 8.12%/yr vs 9.53%/yr for CI. At a 0.18 correlation, their price movements are largely independent.

Performance

ICLR vs. CI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ICON Public Limited Company (ICLR) and Cigna Corporation (CI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICLR achieves a -17.98% return, which is significantly lower than CI's 6.37% return. Over the past 10 years, ICLR has underperformed CI with an annualized return of 8.12%, while CI has yielded a comparatively higher 9.53% annualized return.

ICLR

• 1D: -2.19%
• 1M: 20.40%
• YTD: -17.98%
• 6M: -19.59%
• 1Y: 10.85%
• 3Y*: -12.60%
• 5Y*: -7.48%
• 10Y*: 8.12%

CI

• 1D: 3.14%
• 1M: 3.25%
• YTD: 6.37%
• 6M: 10.29%
• 1Y: -4.86%
• 3Y*: 5.21%
• 5Y*: 4.73%
• 10Y*: 9.53%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ICLR vs. CI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICLR ICON Public Limited Company	-17.98%	-13.11%	-25.92%	45.72%	-37.28%	58.84%	13.21%	33.29%	15.21%	49.14%
CI Cigna Corporation	6.37%	1.72%	-6.27%	-7.97%	46.68%	12.29%	1.83%	7.70%	-6.46%	52.29%

Correlation

The correlation between ICLR and CI is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since May 18, 1998	0.18

Fundamentals

EPS ICLR : $4.36 CI : $23.59
PE Ratio ICLR : 34.24 CI : 12.27
PEG Ratio ICLR : 0.90 CI : 0.71
PS Ratio ICLR : 0.95 CI : 0.28
Total Revenue (TTM) ICLR : $8.25B CI : $277.94B
Gross Profit (TTM) ICLR : $2.18B CI : $19.38B
EBITDA (TTM) ICLR : $823.57M CI : $10.03B

Return for Risk

ICLR vs. CI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ICLR

ICLR Risk / Return Rank: 48
ICLR Sharpe Ratio Rank: 47
ICLR Sortino Ratio Rank: 48
ICLR Omega Ratio Rank: 53
ICLR Calmar Ratio Rank: 46
ICLR Martin Ratio Rank: 46

CI

CI Risk / Return Rank: 34
CI Sharpe Ratio Rank: 35
CI Sortino Ratio Rank: 31
CI Omega Ratio Rank: 31
CI Calmar Ratio Rank: 35
CI Martin Ratio Rank: 36

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ICLR vs. CI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ICON Public Limited Company (ICLR) and Cigna Corporation (CI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ICLR	CI	Difference
Sharpe ratio: Return per unit of total volatility	0.16	-0.15	+0.30
Sortino ratio: Return per unit of downside risk	0.72	0.03	+0.69
Omega ratio: Gain probability vs. loss probability	1.12	1.00	+0.12
Calmar ratio: Return relative to maximum drawdown	0.18	-0.18	+0.36
Martin ratio: Return relative to average drawdown	0.40	-0.34	+0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICLR vs. CI - Sharpe Ratio Comparison

The current ICLR Sharpe Ratio is 0.16, which is higher than the CI Sharpe Ratio of -0.15. The chart below compares the historical Sharpe Ratios of ICLR and CI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ICLR	CI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	-0.15	+0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	0.17	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	0.31	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.34	-0.07

Drawdowns

ICLR vs. CI - Drawdown Comparison

The maximum ICLR drawdown since its inception was -76.87%, smaller than the maximum CI drawdown of -84.34%. Use the drawdown chart below to compare losses from any high point for ICLR and CI.

Drawdown Indicators

	ICLR	CI	Difference
Max Drawdown Largest peak-to-trough decline	-76.87%	-84.34%	+7.47%
Max Drawdown (1Y) Largest decline over 1 year	-60.54%	-26.54%	-34.00%
Max Drawdown (3Y) Largest decline over 3 years	-76.87%	-32.10%	-44.77%
Max Drawdown (5Y) Largest decline over 5 years	-76.87%	-32.10%	-44.77%
Max Drawdown (10Y) Largest decline over 10 years	-76.87%	-42.47%	-34.40%
Current Drawdown Current decline from peak	-56.83%	-18.21%	-38.62%
Average Drawdown Average peak-to-trough decline	-23.51%	-18.82%	-4.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.00%	14.51%	+12.49%

Volatility

ICLR vs. CI - Volatility Comparison

ICON Public Limited Company (ICLR) has a higher volatility of 18.56% compared to Cigna Corporation (CI) at 9.35%. This indicates that ICLR's price experiences larger fluctuations and is considered to be riskier than CI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICLR	CI	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.56%	9.35%	+9.21%
Volatility (6M) Calculated over the trailing 6-month period	66.63%	18.86%	+47.77%
Volatility (1Y) Calculated over the trailing 1-year period	69.88%	33.18%	+36.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.08%	28.43%	+16.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.82%	30.75%	+7.07%

Dividends

ICLR vs. CI - Dividend Comparison

ICLR has not paid dividends to shareholders, while CI's dividend yield for the trailing twelve months is around 2.12%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CI Cigna Corporation	2.12%	2.19%	2.03%	1.64%	1.35%	1.74%	0.02%	0.02%	0.02%	0.02%	0.03%	0.03%
ICLR ICON Public Limited Company	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

ICLR vs. CI - Profitability Comparison

The chart below illustrates the profitability comparison between ICON Public Limited Company and Cigna Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ICLR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ICON Public Limited Company reported a gross profit of 599.39M and revenue of 2.19B. Therefore, the gross margin over that period was 27.4%.

CI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cigna Corporation reported a gross profit of 0.00 and revenue of 68.49B. Therefore, the gross margin over that period was 0.0%.

ICLR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ICON Public Limited Company reported an operating income of 324.79M and revenue of 2.19B, resulting in an operating margin of 14.8%.

CI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cigna Corporation reported an operating income of 2.36B and revenue of 68.49B, resulting in an operating margin of 3.4%.

ICLR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ICON Public Limited Company reported a net income of -110.14M and revenue of 2.19B, resulting in a net margin of -5.0%.

CI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cigna Corporation reported a net income of 1.65B and revenue of 68.49B, resulting in a net margin of 2.4%.

Frequently Asked Questions

Can I hold both ICLR and CI in my portfolio?

ICLR and CI have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICLR or CI?

ICLR has higher volatility (18.56%) compared to CI (9.35%). In terms of maximum drawdown, ICLR dropped -76.87% vs CI's -84.34%.

Which has better risk-adjusted returns?

ICLR currently has the higher Sharpe Ratio (0.16 vs -0.15), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.