WAL vs. CVS

Last updated Apr 1, 2026

Compare and contrast key facts about Western Alliance Bancorporation (WAL) and CVS Health Corporation (CVS).

Performance

WAL vs. CVS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Western Alliance Bancorporation (WAL) and CVS Health Corporation (CVS). The values are adjusted to include any dividend payments, if applicable.

WAL vs. CVS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WAL Western Alliance Bancorporation	-15.33%	2.55%	29.67%	14.12%	-43.68%	81.72%	7.77%	45.90%	-30.25%	16.24%
CVS CVS Health Corporation	-8.76%	84.35%	-40.77%	-12.53%	-7.63%	54.87%	-5.14%	17.26%	-7.04%	-5.75%

Fundamentals

Market Cap WAL : $7.74B CVS : $91.71B
EPS WAL : $8.84 CVS : $1.39
PE Ratio WAL : 8.01 CVS : 51.67
PS Ratio WAL : 1.47 CVS : 0.23
PB Ratio WAL : 1.05 CVS : 1.22
Total Revenue (TTM) WAL : $5.29B CVS : $402.07B
Gross Profit (TTM) WAL : $3.24B CVS : $55.36B
EBITDA (TTM) WAL : $1.30B CVS : $8.69B

Returns By Period

In the year-to-date period, WAL achieves a -15.33% return, which is significantly lower than CVS's -8.76% return. Over the past 10 years, WAL has outperformed CVS with an annualized return of 9.14%, while CVS has yielded a comparatively lower -0.76% annualized return.

WAL

• 1D: 4.24%
• 1M: -11.79%
• YTD: -15.33%
• 6M: -17.49%
• 1Y: -6.00%
• 3Y*: 28.92%
• 5Y*: -3.59%
• 10Y*: 9.14%

CVS

• 1D: 2.40%
• 1M: -10.11%
• YTD: -8.76%
• 6M: -3.17%
• 1Y: 10.05%
• 3Y*: 2.77%
• 5Y*: 2.63%
• 10Y*: -0.76%

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

Return for Risk

WAL vs. CVS — Risk / Return Rank

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

WAL

WAL Risk / Return Rank: 35
WAL Sharpe Ratio Rank: 36
WAL Sortino Ratio Rank: 33
WAL Omega Ratio Rank: 33
WAL Calmar Ratio Rank: 37
WAL Martin Ratio Rank: 35

CVS

CVS Risk / Return Rank: 53
CVS Sharpe Ratio Rank: 55
CVS Sortino Ratio Rank: 46
CVS Omega Ratio Rank: 47
CVS Calmar Ratio Rank: 58
CVS Martin Ratio Rank: 59

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.

WAL vs. CVS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Western Alliance Bancorporation (WAL) and CVS Health Corporation (CVS). 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.

	WAL	CVS	Difference
Sharpe ratio Return per unit of total volatility	-0.14	0.33	-0.46
Sortino ratio Return per unit of downside risk	0.11	0.60	-0.49
Omega ratio Gain probability vs. loss probability	1.02	1.09	-0.07
Calmar ratio Return relative to maximum drawdown	-0.17	0.67	-0.84
Martin ratio Return relative to average drawdown	-0.45	1.66	-2.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WAL vs. CVS - Sharpe Ratio Comparison

The current WAL Sharpe Ratio is -0.14, which is lower than the CVS Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of WAL and CVS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WAL	CVS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.14	0.33	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.06	0.09	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	-0.03	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.31	-0.21

Correlation

The correlation between WAL and CVS is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

WAL vs. CVS - Dividend Comparison

WAL's dividend yield for the trailing twelve months is around 2.26%, less than CVS's 3.70% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WAL Western Alliance Bancorporation	2.26%	1.86%	1.78%	2.20%	2.38%	1.11%	1.67%	0.88%	0.00%	0.00%	0.00%	0.00%
CVS CVS Health Corporation	3.70%	3.35%	5.93%	3.06%	2.36%	1.94%	2.93%	2.69%	3.05%	2.76%	2.15%	1.43%

Drawdowns

WAL vs. CVS - Drawdown Comparison

The maximum WAL drawdown since its inception was -92.14%, which is greater than CVS's maximum drawdown of -64.07%. Use the drawdown chart below to compare losses from any high point for WAL and CVS.

Drawdown Indicators

	WAL	CVS	Difference
Max Drawdown Largest peak-to-trough decline	-92.14%	-64.07%	-28.07%
Max Drawdown (1Y) Largest decline over 1 year	-30.26%	-16.44%	-13.82%
Max Drawdown (5Y) Largest decline over 5 years	-84.79%	-56.79%	-28.00%
Max Drawdown (10Y) Largest decline over 10 years	-84.79%	-56.79%	-28.00%
Current Drawdown Current decline from peak	-36.37%	-25.47%	-10.90%
Average Drawdown Average peak-to-trough decline	-38.58%	-19.59%	-18.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.31%	6.66%	+4.65%

Volatility

WAL vs. CVS - Volatility Comparison

Western Alliance Bancorporation (WAL) has a higher volatility of 12.63% compared to CVS Health Corporation (CVS) at 5.98%. This indicates that WAL's price experiences larger fluctuations and is considered to be riskier than CVS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAL	CVS	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.63%	5.98%	+6.65%
Volatility (6M) Calculated over the trailing 6-month period	30.69%	23.03%	+7.66%
Volatility (1Y) Calculated over the trailing 1-year period	44.09%	30.81%	+13.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.39%	29.36%	+31.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.26%	28.93%	+23.33%

Financials

WAL vs. CVS - Profitability Comparison

The chart below illustrates the profitability comparison between Western Alliance Bancorporation and CVS Health Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

WAL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Western Alliance Bancorporation reported a gross profit of 882.30M and revenue of 1.41B. Therefore, the gross margin over that period was 62.7%.

CVS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, CVS Health Corporation reported a gross profit of 13.57B and revenue of 105.69B. Therefore, the gross margin over that period was 12.8%.

WAL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Western Alliance Bancorporation reported an operating income of 355.70M and revenue of 1.41B, resulting in an operating margin of 25.3%.

CVS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, CVS Health Corporation reported an operating income of 2.11B and revenue of 105.69B, resulting in an operating margin of 2.0%.

WAL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Western Alliance Bancorporation reported a net income of 286.10M and revenue of 1.41B, resulting in a net margin of 20.3%.

CVS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, CVS Health Corporation reported a net income of 2.94B and revenue of 105.69B, resulting in a net margin of 2.8%.