CCI vs SHMD: Correlation
Measured on weekly returns over the past three years, Crown Castle (CCI) and SCHMID Group N.V. - Class A (SHMD) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCI and SHMD?
On 3 years of weekly data the CCI/SHMD correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -526.7 %².
Out of 30 assets tracked against CCI, SHMD lands near the bottom at #30. Their recent paths diverged sharply: over the last 12 months SHMD outperformed by 50.3 percentage points (-21.5% for CCI against +28.8% for SHMD). Risk is not evenly split, since SHMD carries 3.4 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.
CCI vs SHMD: side by side
| CCI (Crown Castle) | SHMD (SCHMID Group N.V. - Class A) | |
|---|---|---|
| 1-year return | -21.5% | +28.8% |
| 5-year return | -50.4% | n/a |
| Volatility (ann.) | 28.4% | 96.9% |
| Beta vs S&P 500 | 0.22 | 0.77 |
| Max drawdown (3Y) | -33.0% | -69.6% |
| Market cap | $32.8B | $0.2B |
| P/E (trailing) | 30.9 | – |
| Dividend yield | 5.63% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CCI | SHMD |
|---|---|---|
| 2022 | -32.6% | – |
| 2023 | -10.2% | – |
| 2024 | -16.4% | – |
| 2025 | +3.0% | +101.1% |
| 2026 | -13.5% | -45.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCI and SHMD good diversifiers for each other?
Yes. With a correlation of -0.20, CCI and SHMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CCI and SHMD?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.24 over the last year and n/a over 5 years.
Is SHMD a good diversifier for CCI?
Yes. With a correlation of -0.20, CCI and SHMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 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/cci-vs-shmd.json
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Related comparisons
Hubs: CCI correlations · SHMD correlations
