CB vs CODA: Correlation
Measured on weekly returns over the past three years, Chubb Limited (CB) and Coda Octopus Group, Inc. (CODA) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CB and CODA?
Across a 3-year window, the weekly returns of CB and CODA correlate at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.21 over 3. Stretching to 5 years gives -0.04, with an annualized covariance of -156.7 %².
Within CB's tracked universe of 37 assets, CODA comes in at #27 by 3-year correlation. Over the last 12 months CODA came out ahead by 11.3 percentage points (+24.7% against +36.0%). One caveat on sizing: CODA is 2.4 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.
CB vs CODA: side by side
| CB (Chubb Limited) | CODA (Coda Octopus Group, Inc.) | |
|---|---|---|
| 1-year return | +24.7% | +36.0% |
| 5-year return | +96.8% | +13.9% |
| Volatility (ann.) | 17.7% | 42.9% |
| Beta vs S&P 500 | 0.17 | 0.67 |
| Max drawdown (3Y) | -14.4% | -44.9% |
| Market cap | $130.5B | $0.1B |
| P/E (trailing) | 12.2 | 23.2 |
| Dividend yield | 1.14% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CB | CODA |
|---|---|---|
| 2022 | +16.0% | -14.2% |
| 2023 | +4.2% | -12.2% |
| 2024 | +23.9% | +30.1% |
| 2025 | +13.7% | +18.8% |
| 2026 | +9.1% | +12.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CB and CODA good diversifiers for each other?
Yes. With a correlation of -0.21, CB and CODA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CB and CODA?
As of 2026-08-27, the correlation of weekly returns between CB and CODA is -0.21 over 3 years, -0.20 over 1 year and -0.04 over 5 years.
Is CODA a good diversifier for CB?
Yes. With a correlation of -0.21, CB and CODA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cb-vs-coda.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cb-vs-coda/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CB correlations · CODA correlations
