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Relative Intelligence · Health Care Distribution

How Cencora (COR) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on COR alone. It places COR (Cencora, Inc.) against 16 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where COR stands in the market, and of the alternatives worth a closer look.

Period covered: COR's full trading record, from April 1995 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against COR →Chart COR vs. 16 alternatives →
On this page12 sections

Key findings

How much would $10,000 in COR have grown?

This chart tracks a hypothetical $10,000 investment in COR over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of COR over the same span and COR's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 83 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of COR; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M$10M199720022007201220172022$10,000$100,000$1M$10M19972004201120182025
  • AAPL$21M+205,249% total · +30.1% a year
  • AMZN$11M+114,749% total · +27.5% a year
  • UNH$772,802+7,628% total · +16.2% a year
  • WST$660,969+6,510% total · +15.5% a year
  • MU$629,766+6,198% total · +15.4% a year
  • COR$574,137+5,641% total · +15.0% a year
  • LLY$396,376+3,864% total · +13.5% a year
  • MCK$208,304+1,983% total · +11.0% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • CAH$113,257+1,033% total · +8.7% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 444 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of COR; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000$60,000202120222023202420252026$0$20,000$40,000$60,000202120222023202420252026
  • LLY$52,411+424% total · +39.3% a year
  • CAH$49,682+397% total · +37.8% a year
  • MCK$43,941+339% total · +34.5% a year
  • DXJ$32,976+230% total · +27.0% a year
  • ABBV$29,134+191% total · +23.8% a year
  • COR$26,420+164% total · +21.4% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • HCA$18,335+83.3% total · +12.9% a year
  • WST$8,848−11.5% total · −2.4% a year
  • LFST$8,296−17.0% total · −3.7% a year
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COR at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The company

Market value
$66B
Industry
Medical - Distribution
Price history from
April 1995

Returns

Past 1 year
+5.7%total return
Past 3 years
+86.5%+23.1% a year
Past 5 years
+195%+24.2% a year
Past 10 years
+406%+17.6% a year
Best calendar year
+233%2000
Worst calendar year
−53.3%1999
Losing years
5 of 29full calendar years

Risk

Volatility
22.8%typical yearly swing, 5 years
Sharpe ratio
1.07return per unit of risk, 5 years
Worst decline ever
−70.9%Jan 1999 to Dec 1999
From its all-time high
−7.8%below the peak

COR against the whole market

Where COR ranks among every stock and fund, and what across the market has done better.

How does COR rank among all stocks?

This section ranks COR on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how COR stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureCORRankStanding
1-year return+5.7%1,751 of 3,287bottom 48%
3-year return+86.5%1,053 of 3,017top 35%
5-year return+195%328 of 2,893top 11%
10-year return+406%412 of 2,202top 19%
Volatility, 5 years22.8%196 of 2,893top 7%
Sharpe ratio, 5 years1.0763 of 2,893top 2%
Worst decline, past 10 years−32.4%38 of 2,187top 2%

What has beaten COR on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). COR sits where the dashed lines cross. Anything in the green box above and to the left earned more than COR with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to COR. 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

15.0%17.5%20.0%22.5%25.0%27.5%30.0%32.5%35.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than CORCOR: +24.2% a year, volatility 22.8%SPY (S&P 500): +12.7% a year, volatility 17.1%CAH: +42.1% a year, volatility 24.7%LLY: +40.7% a year, volatility 32.8%MCK: +38.7% a year, volatility 25.0%HCA: +14.1% a year, volatility 30.1%ABBV: +26.1% a year, volatility 23.4%DXJ: +26.6% a year, volatility 19.1%MPC: +51.2% a year, volatility 33.4%AAPL: +18.5% a year, volatility 28.0%QQQ: +14.5% a year, volatility 23.0%MUFG: +33.2% a year, volatility 29.4%WELL: +26.0% a year, volatility 23.8%EPU: +29.5% a year, volatility 24.9%PGR: +21.3% a year, volatility 25.6%CORSPY (S&P 500)CAHLLYMCKHCAABBVDXJMPCAAPLQQQMUFGEPUPGR15.0%20.0%25.0%30.0%35.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than CORCOR: +24.2% a year, volatility 22.8%SPY (S&P 500): +12.7% a year, volatility 17.1%CAH: +42.1% a year, volatility 24.7%LLY: +40.7% a year, volatility 32.8%MCK: +38.7% a year, volatility 25.0%HCA: +14.1% a year, volatility 30.1%ABBV: +26.1% a year, volatility 23.4%DXJ: +26.6% a year, volatility 19.1%MPC: +51.2% a year, volatility 33.4%AAPL: +18.5% a year, volatility 28.0%QQQ: +14.5% a year, volatility 23.0%MUFG: +33.2% a year, volatility 29.4%WELL: +26.0% a year, volatility 23.8%EPU: +29.5% a year, volatility 24.9%PGR: +21.3% a year, volatility 25.6%CORSPY (S&P 500)CAHLLYMCKHCAABBVDXJMPCAAPLQQQMUFGEPUPGR
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market

Is there a better investment than COR?

Investments that beat COR over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat COR over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes. It checks COR's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than COR follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than COR's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× COR's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than COR's.

Screen the whole market against COR for any period in BetterThanSPYOpen these 14 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with COR?lower diversifies moreExpenseper year
CORCencora, Inc. · this page
+24.2%22.8%1.07−32.4%+406%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.380.09%
Popular alternativesbest 4 shownThe investments people most often weigh against COR. 4 of 15 passed at least one test.
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, similar volatilityHigher return in most periods+42.1%24.7%1.55−46.1%+349%0.65—
LLYEli Lilly and Company · Pharmaceuticals
Higher return in most periodsSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%0.23—
MCKMcKesson Corporation · Health Care Distribution
Higher return, similar volatilityHigher return in most periods+38.7%25.0%1.44−38.1%+586%0.74—
HCAHCA Healthcare, Inc. · Health Care Facilities
Higher return in most periods+14.1%30.1%0.59−54.7%+513%0.62—
Same and neighboring categories, and shared themesbest 1 shownEverything else in Health Care Distribution and the categories next to it (Medical Devices, Managed Health Care, Health Care Services, Pharmaceuticals), plus COR's specific themes. 1 of 53 passed at least one test.
ABBVAbbVie Inc. · Pharmaceuticals
Higher return in most periods+26.1%23.4%1.11−45.1%+603%0.24—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 68 of 3,565 passed at least one test.
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return, lower volatilityHigher return in most periods+26.6%19.1%1.34−39.1%+428%0.420.48%
MPCMarathon Petroleum Corporation · Oil & Gas
On the frontierHigher return in most periods+51.2%33.4%1.41−79.7%+1,387%0.32—
AAPLApple Inc. · Computer Hardware
Higher return in most periods+18.5%28.0%0.75−38.5%+1,168%0.12—
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Higher return in most periods+14.5%23.0%0.71−35.1%+553%0.150.18%
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Higher return in most periods+33.2%29.4%1.13−54.9%+483%0.38—
WELLWelltower Inc. · Healthcare REITs
Higher return in most periods+26.0%23.8%1.09−63.3%+379%0.42—
EPUiShares MSCI Peru and Global Exposure ETF · International
Higher return, similar volatilityHigher return in most periods+29.5%24.9%1.17−51.0%+275%0.370.59%
PGRThe Progressive Corporation · Property & Casualty Insurance
Smaller losses in recent crashes+21.3%25.6%0.89−30.3%+816%0.42—
What these numbers mean for COR
Annual return
COR returned 24.2% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $29,500. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
COR's volatility over the past 5 years was 22.8%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, COR's return lands within 22.8% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
COR's Sharpe ratio over the past 5 years was 1.07, against 0.79 for the S&P 500, so COR earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
COR's worst fall from a peak to a low over the past 10 years was 32.4%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 32.4% fall takes a 48.0% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, COR's monthly returns had a correlation of 0.38 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against COR instead: the lower it is, the more that option would diversify a COR holding. Guide: Correlation and diversification →
Show all 1 stock or fund worth at least $500 million that earned more than COR with less volatility

Out of 3,633 tested over 5 years. Best first; funds that hold the same thing are listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with CORExpense
1
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.420.48%

COR against its popular alternatives

The investments people most often weigh against COR, compared period by period and year by year.

How do COR's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at COR, which divides the map into what did better or worse on each measure.

Green points earned more than COR with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

10.0%20.0%30.0%40.0%50.0%60.0%70.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityCOR: 24.2% a year, volatility 22.8%SPY (S&P 500): 12.7% a year, volatility 17.1%HCA: 14.1% a year, volatility 30.1%WST: −1.0% a year, volatility 40.7%LFST: 0.7% a year, volatility 63.0%UNH: 1.1% a year, volatility 32.1%OPCH: 4.4% a year, volatility 41.0%PFE: −1.7% a year, volatility 25.4%CHE: 3.4% a year, volatility 25.3%SYY: 3.5% a year, volatility 23.6%CVS: 5.3% a year, volatility 30.4%HSIC: 1.5% a year, volatility 25.4%PRVA: −1.5% a year, volatility 46.8%OSIS: 15.5% a year, volatility 34.0%MCK: 38.7% a year, volatility 25.0%LLY: 40.7% a year, volatility 32.8%CAH: 42.1% a year, volatility 24.7%CORSPY (S&P 500)HCAWSTLFSTUNHOPCHPFECHESYYCVSPRVAOSISMCKLLYCAH10.0%20.0%30.0%40.0%50.0%60.0%70.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityCOR: 24.2% a year, volatility 22.8%SPY (S&P 500): 12.7% a year, volatility 17.1%HCA: 14.1% a year, volatility 30.1%WST: −1.0% a year, volatility 40.7%LFST: 0.7% a year, volatility 63.0%UNH: 1.1% a year, volatility 32.1%OPCH: 4.4% a year, volatility 41.0%PFE: −1.7% a year, volatility 25.4%CHE: 3.4% a year, volatility 25.3%SYY: 3.5% a year, volatility 23.6%CVS: 5.3% a year, volatility 30.4%HSIC: 1.5% a year, volatility 25.4%PRVA: −1.5% a year, volatility 46.8%OSIS: 15.5% a year, volatility 34.0%MCK: 38.7% a year, volatility 25.0%LLY: 40.7% a year, volatility 32.8%CAH: 42.1% a year, volatility 24.7%CORSPY (S&P 500)WSTLFSTUNHOPCHPFECHESYYCVSPRVAOSISMCKLLYCAH
All figures
InvestmentAnnual returnVolatility
CAH Cardinal Health, Inc.+42.1%24.7%
LLY Eli Lilly and Company+40.7%32.8%
MCK McKesson Corporation+38.7%25.0%
COR This pageCencora, Inc.+24.2%22.8%
OSIS OSI Systems, Inc.+15.5%34.0%
HCA HCA Healthcare, Inc.+14.1%30.1%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
CVS CVS Health Corp.+5.3%30.4%
OPCH Option Care Health, Inc.+4.4%41.0%
SYY Sysco Corporation+3.5%23.6%
CHE Chemed Corporation+3.4%25.3%
HSIC Henry Schein, Inc.+1.5%25.4%
UNH UnitedHealth Group Incorporated+1.1%32.1%
LFST LifeStance Health Group, Inc.+0.7%63.0%
WST West Pharmaceutical Services, Inc.−1.0%40.7%
PRVA Privia Health Group, Inc.−1.5%46.8%
PFE Pfizer Inc.−1.7%25.4%
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Has COR consistently beaten its popular alternatives?

This section compares COR with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than COR helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than COR over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
COR Cencora, Inc. (this page)—+8.5%+13.1%+6.7%+1.9%+5.7%+86.5%+195%+406%22.8%1.07−32.4%—$66B—
MCK QualifiedMcKesson Corporation5/5 short3/3 longAll-weather+16.2%+24.0%+20.2%+25.5%+31.3%+131%+413%+586%25.0%1.44−38.1%—$120B—
LLY QualifiedEli Lilly and Company4/5 short3/3 longAll-weather+10.2%+12.1%+40.0%+19.4%+59.7%+124%+451%+1,807%32.8%1.21−34.5%—$1.2T—
CAH QualifiedCardinal Health, Inc.5/5 short2/3 long+14.3%+14.3%+22.5%+26.1%+65.3%+191%+479%+349%24.7%1.55−46.1%—$60B—
HCA QualifiedHCA Healthcare, Inc.3/5 short2/3 long+9.3%+26.0%−2.2%−0.5%+8.3%+97.6%+93.6%+513%30.1%0.59−54.7%—$101B—
WST Medical - Instruments & SuppliesWest Pharmaceutical Services, Inc.3/5 short1/3 long+7.5%+10.4%+40.0%+41.0%+41.9%+7.8%−5.0%+455%40.7%0.19−59.3%—$27B—
LFST Medical - Care FacilitiesLifeStance Health Group, Inc.3/5 short1/3 long−3.6%+7.8%+76.6%+75.6%+137%+128%+3.6%—63.0%0.33−86.9%—$4.7B—
UNH Medical - Healthcare PlansUnitedHealth Group Incorporated4/5 short0/3 long+11.0%+0.1%+31.2%+27.1%+18.1%−15.3%+5.5%+241%32.1%0.20−61.4%—$376B—
OPCH Medical - Care FacilitiesOption Care Health, Inc.4/5 short0/3 long+30.9%+44.2%+9.0%−2.7%+10.5%−2.8%+24.1%+165%41.0%0.31−66.7%—$4.7B—
PFE Drug Manufacturers - GeneralPfizer Inc.4/5 short0/3 long+8.5%+23.8%+13.2%+25.7%+30.5%+19.2%−8.3%+55.0%25.4%0.06−58.9%—$172B—
BTSG Medical - Healthcare Information ServicesBrightSpring Health Services, Inc. Common Stock4/5 short0/3 long+11.7%−11.5%+30.6%+62.6%+105%—————−35.6%—$12B—
CHE Medical - Care FacilitiesChemed Corporation3/5 short0/3 long+3.3%+0.6%+34.1%+22.3%+16.6%+2.0%+18.1%+273%25.3%0.26−42.9%—$6.7B—
SYY Food DistributionSysco Corporation3/5 short0/3 long+6.4%+3.3%+10.2%+16.6%+6.7%+37.6%+18.7%+126%23.6%0.27−63.4%—$41B—
CVS Medical - Healthcare PlansCVS Health Corp.3/5 short0/3 long+8.2%−11.4%+25.6%+21.0%+18.5%+52.5%+29.2%+47.0%30.4%0.32−56.8%—$121B—
HSIC Medical - DistributionHenry Schein, Inc.2/5 short0/3 long−0.6%−1.8%+7.0%+10.2%+32.5%+24.0%+7.9%+41.3%25.4%0.19−41.4%—$9.4B—
PRVA Medical - Healthcare Information ServicesPrivia Health Group, Inc.1/5 short0/3 long+17.3%−12.7%−4.8%−2.3%−13.1%+0.3%−7.4%—46.8%0.20−67.3%—$2.9B—
OSIS Hardware, Equipment & PartsOSI Systems, Inc.0/5 short0/3 long−2.8%−7.4%−37.0%−23.8%−23.3%+69.6%+106%+194%34.0%0.59−53.6%—$3.1B—
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How did COR do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where COR ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with COR and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of COR; gray means the two finished within a fraction of a point. The rank row places COR among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of COR20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
COR This pageCencora, Inc.—+51.5%+10.4%+25.3%+26.3%+38.0%+17.0%+18.2%−16.6%+20.6%−23.3%+16.9%+29.9%+65.3%+17.9%+10.3%+32.4%+48.0%−19.8%+3.3%+8.9%+41.4%+2.5%+5.6%−14.5%+25.8%+233%−53.3%+11.7%+20.8%
Rank among alternativesTop quarter in 9 of 296 of 176 of 166 of 164 of 169 of 146 of 148 of 1412 of 144 of 1412 of 145 of 147 of 144 of 1411 of 147 of 133 of 134 of 133 of 139 of 137 of 133 of 138 of 1312 of 138 of 133 of 131 of 1311 of 139 of 137 of 12
SPY S&P 500State Street SPDR S&P 500 ETF14 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
MCK McKesson Corporation14 of 29+44.5%+23.7%+24.1%+51.8%+44.2%+27.1%+26.7%−28.4%+12.0%−28.3%−4.5%+29.3%+67.7%+25.6%+11.8%+13.8%+62.9%−40.4%+29.7%−1.2%+64.9%−1.4%+19.9%−27.2%+4.9%+61.2%−71.3%+46.9%+96.3%
LLY Eli Lilly and Company16 of 29+40.3%+33.3%+60.9%+34.3%+66.1%+31.0%+16.2%+40.5%+17.8%−10.4%+25.4%+39.8%+7.3%+24.2%+25.2%+3.6%−6.2%−21.3%+5.7%−5.2%+2.6%−17.6%+13.1%−17.6%−14.4%+41.9%−24.3%+29.1%+93.6%
CAH Cardinal Health, Inc.9 of 29+76.3%+19.0%+34.1%+54.1%−0.4%+10.1%+18.0%−24.5%−12.7%−17.5%+12.6%+23.0%+66.0%+3.8%+8.1%+21.4%−4.4%−39.6%−9.8%−5.8%+18.7%−4.7%+3.5%−8.3%−2.5%+108%−36.8%+51.7%+29.1%
HCA HCA Healthcare, Inc.8 of 14+56.7%+11.8%+13.8%−5.6%+57.6%+11.6%+20.2%+43.4%+18.7%+9.4%−7.8%+53.8%+58.1%+70.9%———————————————
WST West Pharmaceutical Services, Inc.15 of 29−15.7%−6.8%+50.0%−49.7%+65.9%+89.0%+54.1%−0.1%+17.0%+41.9%+14.0%+9.5%+81.3%+46.6%−6.4%+7.0%+5.5%−5.7%−19.8%+108%+1.8%+51.2%+43.6%−5.2%+11.6%−18.4%−11.6%+22.4%+7.4%
LFST LifeStance Health Group, Inc.1 of 4−4.5%−5.9%+58.5%−48.1%—————————————————————————
UNH UnitedHealth Group Incorporated14 of 29−33.1%−2.4%+0.8%+6.9%+45.2%+21.3%+20.0%+14.5%+39.8%+38.4%+18.3%+36.5%+41.0%+8.6%+42.2%+19.9%+14.8%−54.3%+8.3%−13.5%+41.2%+51.4%+39.4%+18.1%+15.3%+131%+23.5%−13.4%+10.3%
OPCH Option Care Health, Inc.9 of 29+37.3%−31.1%+12.0%+5.8%+81.8%+4.8%+4.5%+22.7%+180%−40.6%−75.0%−5.5%−31.3%+97.3%+4.4%−37.4%+277%−71.3%+123%−54.1%+18.6%−9.5%+21.2%−67.4%+1,934%−64.1%−27.8%−28.9%−5.0%
PFE Pfizer Inc.11 of 29+0.6%−2.2%−41.3%−10.4%+66.7%+3.4%−6.7%+25.1%+16.1%+4.4%+7.3%+5.4%+26.5%+20.6%+28.8%+0.6%+8.1%−16.9%−8.2%+15.3%−10.6%−22.3%+17.7%−22.2%−12.5%+43.0%−21.5%+68.8%+82.0%
BTSG BrightSpring Health Services, Inc. Common Stock1 of 1+120%————————————————————————————
CHE Chemed Corporation15 of 29−18.9%−9.1%+14.9%−3.2%−0.4%+21.6%+55.6%+17.0%+52.3%+7.9%+42.8%+39.1%+12.9%+35.4%−18.6%+33.6%+21.7%−28.4%+51.8%−25.1%+48.9%+46.9%+32.1%+5.7%+2.2%+18.9%−8.2%−14.1%+20.0%
SYY Sysco Corporation10 of 29−1.0%+7.4%−1.7%−0.3%+8.3%−10.4%+39.6%+5.5%+12.5%+38.8%+5.8%+13.4%+18.9%+11.9%+3.5%+8.0%+26.7%−23.5%−13.2%+21.0%−17.3%+3.7%+26.8%+15.6%−11.7%+53.5%+45.6%+22.1%+41.8%
CVS CVS Health Corp.14 of 29+84.3%−40.8%−12.6%−7.6%+54.9%−5.1%+17.3%−7.0%−5.8%−17.8%+2.9%+36.5%+50.4%+20.3%+19.0%+9.1%+13.2%−27.2%+29.4%+17.7%+17.8%+25.7%+45.7%−14.9%−50.4%+51.1%−27.1%+72.6%+55.5%
HSIC Henry Schein, Inc.8 of 29+9.2%−8.6%−5.2%+3.0%+16.0%+0.2%+8.3%+12.3%−7.9%−4.1%+16.2%+19.1%+42.1%+24.8%+5.0%+16.7%+43.4%−40.2%+25.4%+12.3%+25.4%+3.0%+50.2%+21.5%+6.9%+160%−70.2%+27.8%+1.8%
PRVA Privia Health Group, Inc.0 of 4+21.3%−15.1%+1.4%−12.2%—————————————————————————
OSIS OSI Systems, Inc.17 of 28+52.3%+29.7%+62.3%−14.7%0.0%−7.5%+37.4%+13.9%−15.4%−14.1%+25.3%+33.3%−17.1%+31.3%+34.2%+33.3%+97.0%−47.7%+26.5%+13.8%−19.0%+18.2%+13.1%−6.9%+198%+11.5%−36.3%−29.5%—
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Risk and diversification

How COR has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were COR's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents COR's five deepest drawdowns since it began trading in 1995, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means COR fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringCOR fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
No named crash−70.9%+18.1%Jan 1999Dec 199911 monthsSep 20009 months
2008 financial crisis−49.1%−47.5%Apr 2007Nov 200819 monthsJan 201014 months
Dot-com bust−43.2%−16.9%Jun 2002Mar 20039 monthsDec 20052.8 years
No named crash−40.8%−14.2%Jul 1998Sep 19982 monthsJan 19994 months
2015 China and oil sell-off−38.8%+4.0%Jul 2015Nov 201616 monthsJun 20203.6 years

How did COR do in stock market crashes?

This section measures how far COR, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than COR.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
COR This pageCencora, Inc.—−2.3%−17.8%−23.8%−24.2%−7.1%−21.4%−14.5%−2.8%−41.9%−29.7%
SPY S&P 500State Street SPDR S&P 500 ETF4 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
MCK McKesson Corporation4 of 10−0.9%−10.5%−32.1%−20.7%−6.5%−30.8%−14.2%−3.5%−57.7%−39.4%
LLY Eli Lilly and Company7 of 10−0.6%−11.7%−16.9%−10.2%−8.6%−19.6%−10.9%0.0%−50.0%−54.3%
CAH Cardinal Health, Inc.3 of 10−3.5%−21.0%−32.1%−25.5%−4.6%−15.9%−17.5%−1.8%−57.9%−36.1%
HCA HCA Healthcare, Inc.2 of 7−2.2%−39.5%−54.4%−20.6%−3.8%−31.3%−49.0%———
WST West Pharmaceutical Services, Inc.3 of 10−1.6%−44.2%−26.2%−24.9%−8.5%−14.6%−23.1%−1.5%−45.1%−41.9%
LFST LifeStance Health Group, Inc.1 of 2−1.6%−52.4%————————
UNH UnitedHealth Group Incorporated5 of 10−1.8%−16.9%−35.9%−18.6%−6.7%−12.4%−20.7%−0.8%−72.4%−19.8%
OPCH Option Care Health, Inc.2 of 10−5.0%−20.0%−65.7%−17.2%−3.6%−56.6%−25.9%−6.0%−85.8%−88.7%
PFE Pfizer Inc.4 of 10−1.8%−24.6%−21.8%−12.3%−8.1%−18.2%−16.1%−1.8%−49.8%−46.0%
CHE Chemed Corporation5 of 10−1.1%−16.7%−30.6%−17.8%−4.1%−18.5%−22.3%−3.2%−50.3%−31.1%
SYY Sysco Corporation4 of 10−2.3%−20.8%−59.5%−17.8%−6.8%−6.4%−17.9%−1.5%−43.1%−27.2%
CVS CVS Health Corp.3 of 10−4.4%−19.9%−27.3%−22.1%−9.2%−16.9%−14.2%−1.1%−45.3%−62.4%
HSIC Henry Schein, Inc.5 of 10−1.0%−28.5%−41.4%−17.7%−4.7%−12.8%−18.3%−3.0%−47.8%−25.6%
PRVA Privia Health Group, Inc.0 of 2−8.9%−34.1%————————
OSIS OSI Systems, Inc.2 of 10−3.7%−30.4%−40.4%−13.7%−3.7%−45.7%−28.9%−2.5%−61.4%−88.4%
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How closely does COR move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares COR with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than COR's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
COR This pageCencora, Inc.80%58%1.390.56
LLY Eli Lilly and Company101%6%15.730.37
MCK McKesson Corporation72%27%2.710.56
CHE Chemed Corporation70%50%1.410.50
CAH Cardinal Health, Inc.71%51%1.400.75
WST West Pharmaceutical Services, Inc.107%99%1.091.08
UNH UnitedHealth Group Incorporated81%82%0.980.70
HCA HCA Healthcare, Inc.135%140%0.971.37
OSIS OSI Systems, Inc.88%99%0.890.97
SYY Sysco Corporation76%100%0.761.02
OPCH Option Care Health, Inc.75%102%0.730.89
PFE Pfizer Inc.52%81%0.650.54
CVS CVS Health Corp.59%99%0.600.70
HSIC Henry Schein, Inc.72%124%0.590.85
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What diversifies COR?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with COR's. Because such investments tend not to fall at the same time, pairing COR with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which COR lost money. The last two columns show a portfolio that is 80% COR and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe2018201620082002199980/20 mix volatility80/20 mix annual return
COR Cencora, Inc. (this page)1.00+195%1.07−16.6%−23.3%−19.8%−14.5%−53.3%24.0%+21.4%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.42+225%1.34−19.8%+1.1%−20.8%——20.4%+23.0%
SMH TechnologyVanEck Semiconductor ETF0.06+323%0.97−9.1%+35.6%−44.7%−47.0%—20.8%+26.1%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.48+85.0%0.96−9.5%+6.3%———20.4%+20.3%
GLD CommoditiesSPDR Gold Shares0.38+126%0.96−1.9%+8.0%+4.9%——20.8%+21.3%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.20+136%0.93−0.9%+7.4%———20.4%+22.2%
XLE EnergyState Street Energy Select Sector SPDR ETF0.42+177%0.93−18.2%+28.0%−39.0%−14.8%+18.1%21.9%+22.4%
FDVV Dividend & IncomeFidelity High Dividend ETF0.49+85.9%0.92−1.2%————20.8%+20.4%
VLUE Broad MarketiShares MSCI USA Value Factor ETF0.32+109%0.90−11.1%+15.3%———20.9%+21.3%

Stocks

InvestmentCorrelation5Y returnSharpe2018201620082002199980/20 mix volatility80/20 mix annual return
COR Cencora, Inc. (this page)1.00+195%1.07−16.6%−23.3%−19.8%−14.5%−53.3%24.0%+21.4%
CLS Hardware, Equipment & PartsCelestica Inc.0.15+3,143%1.47−16.3%+7.4%−20.5%−65.1%+350%23.9%+39.1%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.18+1,636%1.46+0.8%+18.3%−15.2%−9.4%−58.7%22.6%+34.8%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.32+690%1.41−8.2%+0.7%———22.1%+27.5%
HWM Aerospace & DefenseHowmet Aerospace Inc.0.43+594%1.36−37.5%−11.5%−67.4%−33.1%+133%23.1%+27.5%
ATI Manufacturing - Metal FabricationATI Inc.0.26+1,008%1.34−9.8%+43.9%−70.0%−60.8%—23.5%+30.9%
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Common questions

What was COR's worst drawdown?

COR's deepest decline since it began trading in 1995 was 70.9%, from January to December 1999. It took nine months from the low to climb back to its old high.

What were COR's best and worst years?

Over 29 full calendar years, COR's best year was 2000, when it returned 233%. Its worst was 1999, with a return of -53.3%.

Is there a better investment than COR?

Among COR's popular alternatives, CAH and MCK earned more than COR over the past 5 years with similar volatility: CAH returned 42.1% a year at 24.7% volatility, against 24.2% a year at 22.8%. Looking beyond its popular alternatives, ABBV (pharmaceuticals) was ahead of COR in most short and long periods.

Is COR more volatile than the S&P 500?

Yes. COR's volatility over the past 5 years was 22.8%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, COR's return lands within 22.8% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is COR's Sharpe ratio?

COR's Sharpe ratio over the past 5 years was 1.07, against 0.79 for the S&P 500, so COR earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is COR with the S&P 500?

Over the past 5 years, COR's monthly returns had a correlation of 0.38 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against COR instead: the lower it is, the more that option would diversify a COR holding.

What are the best alternatives to COR?

Of the 16 popular alternatives we compared, four outperformed COR in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: MCK, LLY and CAH.

Did COR outperform the S&P 500?

COR finished ahead of the S&P 500 (SPY) in 15 of 29 full calendar years. In 2025, it returned +51.5%, against +17.7% for the index.

How did COR do in stock market crashes?

COR fell less than the S&P 500 (SPY) in six of the ten major crashes it has traded through, and further in four. The clearest case was the dot-com bust, when COR fell 29.7% and the S&P 500 fell 47.5%.

What diversifies COR?

These had a low correlation with COR over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.42), SMH (correlation 0.06) and DBEF (correlation 0.48); among large stocks, CLS (correlation 0.15), FIX (correlation 0.18) and MPC (correlation 0.32). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to COR

Other stocks and ETFs