BEAT vs CMBT: Correlation
How closely do Heartbeam, Inc. (BEAT) and CMB.TECH NV (CMBT) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BEAT and CMBT?
Over the past 3 years, BEAT and CMBT moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.30) sits close to the 3-year figure. Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -1196.5 %².
Within BEAT's tracked universe of 16 assets, CMBT comes in at #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CMBT ahead by 202.8 points (-58.8% versus +144.0%). Risk is not evenly split, since BEAT carries 4.0 times the volatility of the other side.
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.
BEAT vs CMBT: side by side
| BEAT (Heartbeam, Inc.) | CMBT (CMB.TECH NV) | |
|---|---|---|
| 1-year return | -58.8% | +144.0% |
| 5-year return | -89.6% | +306.2% |
| Volatility (ann.) | 152.8% | 38.0% |
| Beta vs S&P 500 | 0.65 | 0.67 |
| Max drawdown (3Y) | -86.1% | -57.2% |
| Market cap | – | $5.3B |
| P/E (trailing) | – | 10.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BEAT | CMBT |
|---|---|---|
| 2022 | +58.4% | +93.2% |
| 2023 | -51.8% | +26.3% |
| 2024 | -2.1% | -22.7% |
| 2025 | +4.3% | -2.8% |
| 2026 | -79.8% | +100.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BEAT and CMBT good diversifiers for each other?
Yes. With a correlation of -0.21, BEAT and CMBT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BEAT and CMBT?
The BEAT/CMBT correlation stands at -0.21 on a 3-year window (1 year: -0.30, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is CMBT a good diversifier for BEAT?
Yes. With a correlation of -0.21, BEAT and CMBT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
A reading of -0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/beat-vs-cmbt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/beat-vs-cmbt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BEAT correlations · CMBT correlations
