WBA vs. CVS

Last updated Jun 3, 2026

WBA (Walgreens Boots Alliance, Inc.) and CVS (CVS Health Corporation) are both stocks. Both are in the Healthcare sector — WBA in Pharmaceutical Retailers, CVS in Healthcare Plans. At a 0.45 correlation, their price movements are largely independent.

Performance

WBA vs. CVS - Performance Comparison

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

Returns By Period

WBA

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CVS

• 1D: -1.24%
• 1M: 9.03%
• YTD: 14.70%
• 6M: 17.27%
• 1Y: 45.87%
• 3Y*: 12.84%
• 5Y*: 3.94%
• 10Y*: 2.37%

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

WBA vs. CVS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WBA Walgreens Boots Alliance, Inc.	0.00%	28.40%	-61.34%	-25.09%	-25.06%	35.78%	-29.38%	-10.99%	-3.65%	-10.51%
CVS CVS Health Corporation	14.70%	84.35%	-40.77%	-12.53%	-7.63%	54.87%	-5.14%	17.26%	-7.04%	-5.75%

Correlation

The correlation between WBA and CVS is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jul 2, 1985	0.45

Over the past year, the correlation between WBA and CVS has dropped to 0.11 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.

Fundamentals

Total Revenue (TTM) WBA : $154.58B CVS : $407.91B
Gross Profit (TTM) WBA : $26.47B CVS : $56.59B
EBITDA (TTM) WBA : -$2.92B CVS : $9.99B

Return for Risk

WBA vs. CVS — Risk / Return Rank

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

CVS

CVS Risk / Return Rank: 78
CVS Sharpe Ratio Rank: 81
CVS Sortino Ratio Rank: 73
CVS Omega Ratio Rank: 78
CVS Calmar Ratio Rank: 80
CVS Martin Ratio Rank: 81

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.

WBA vs. CVS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Walgreens Boots Alliance, Inc. (WBA) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	WBA	CVS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.50	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.13	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.33	—

Drawdowns

Drawdown Indicators

	WBA	CVS	Difference
Max Drawdown Largest peak-to-trough decline	—	-64.07%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-16.44%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-43.98%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-56.79%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-56.79%	—
Current Drawdown Current decline from peak	—	-8.78%	—
Average Drawdown Average peak-to-trough decline	—	-19.56%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.36%	—

Volatility

Volatility by Period

	WBA	CVS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.91%	—
Volatility (6M) Calculated over the trailing 6-month period	—	26.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	30.74%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	29.90%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	29.28%	—

Dividends

WBA vs. CVS - Dividend Comparison

WBA has not paid dividends to shareholders, while CVS's dividend yield for the trailing twelve months is around 2.97%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CVS CVS Health Corporation	2.97%	3.35%	5.93%	3.06%	2.36%	1.94%	2.93%	2.69%	3.05%	2.76%	2.15%	1.43%
WBA Walgreens Boots Alliance, Inc.	0.00%	0.00%	10.72%	7.35%	5.13%	3.62%	4.64%	3.04%	2.46%	2.13%	1.78%	1.64%

Financials

Frequently Asked Questions

Can I hold both WBA and CVS in my portfolio?

WBA and CVS have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.