ALOT vs ICCM: Correlation
Measured on weekly returns over the past three years, AstroNova, Inc. (ALOT) and IceCure Medical Ltd. (ICCM) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALOT and ICCM?
Across a 3-year window, the weekly returns of ALOT and ICCM correlate at 0.41, moderate. The past 12 months show a tighter link (0.62) than the 3-year average (0.41). Stretching to 5 years gives 0.34, with an annualized covariance of 2808.8 %².
Among the 20 assets we track against ALOT, ICCM ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ALOT outperformed by 258.8 percentage points (+166.5% for ALOT against -92.3% for ICCM). One caveat on sizing: ICCM is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALOT vs ICCM: side by side
| ALOT (AstroNova, Inc.) | ICCM (IceCure Medical Ltd.) | |
|---|---|---|
| 1-year return | +166.5% | -92.3% |
| 5-year return | +89.7% | -99.3% |
| Volatility (ann.) | 57.8% | 117.6% |
| Beta vs S&P 500 | 0.80 | 0.41 |
| Max drawdown (3Y) | -61.3% | -95.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALOT | ICCM |
|---|---|---|
| 2022 | -5.0% | -49.2% |
| 2023 | +26.8% | -31.0% |
| 2024 | -26.1% | +2.8% |
| 2025 | -28.0% | -44.5% |
| 2026 | +235.1% | -87.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALOT and ICCM good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALOT and ICCM?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.62 over the last year and 0.34 over 5 years.
Is ICCM a good diversifier for ALOT?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alot-vs-iccm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alot-vs-iccm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALOT correlations · ICCM correlations
