CD vs MBI: Correlation
How closely do Chaince Digital Holdings Inc. - American (CD) and MBIA Inc. (MBI) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CD and MBI?
On 3 years of weekly data the CD/MBI correlation comes out at 0.46, moderate. The link has loosened recently: the 1-year correlation (0.19) runs below the 3-year figure (0.46). The 5-year figure is 0.32, and annualized covariance runs at 6036.9 %².
By 3-year correlation, MBI places #5 of the 15 assets tracked against CD. Neither side won the trailing year by much: -39.8% against -41.0%. Note the risk asymmetry: CD runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CD vs MBI: side by side
| CD (Chaince Digital Holdings Inc. - American) | MBI (MBIA Inc.) | |
|---|---|---|
| 1-year return | -39.8% | -41.0% |
| 5-year return | +1.2% | -0.5% |
| Volatility (ann.) | 189.9% | 68.8% |
| Beta vs S&P 500 | 1.02 | 0.81 |
| Max drawdown (3Y) | -92.6% | -51.9% |
| Market cap | $0.4B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CD | MBI |
|---|---|---|
| 2022 | -64.8% | -18.6% |
| 2023 | +109.5% | +9.2% |
| 2024 | +162.7% | +5.6% |
| 2025 | -27.2% | +10.8% |
| 2026 | -31.2% | -33.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CD and MBI good diversifiers for each other?
Reasonably. At 0.46, CD and MBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CD and MBI?
As of 2026-08-27, the correlation of weekly returns between CD and MBI is 0.46 over 3 years, 0.19 over 1 year and 0.32 over 5 years.
Is MBI a good diversifier for CD?
Reasonably. At 0.46, CD and MBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 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
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Related comparisons
Hubs: CD correlations · MBI correlations
