CD vs PULM: Correlation
How closely do Chaince Digital Holdings Inc. - American (CD) and Pulmatrix, Inc. (PULM) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CD and PULM?
Across a 3-year window, the weekly returns of CD and PULM correlate at 0.53, moderate. The past 12 months show a weaker link (0.09) than the 3-year average (0.53). Stretching to 5 years gives 0.44, with an annualized covariance of 14479.2 %².
Few assets follow CD as closely as PULM, which ranks #3 of 15 tracked partners. Their recent paths diverged sharply: over the last 12 months CD outperformed by 28.9 percentage points (-39.8% for CD against -68.7% for PULM).
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 PULM: side by side
| CD (Chaince Digital Holdings Inc. - American) | PULM (Pulmatrix, Inc.) | |
|---|---|---|
| 1-year return | -39.8% | -68.7% |
| 5-year return | +1.2% | -90.6% |
| Volatility (ann.) | 189.9% | 144.8% |
| Beta vs S&P 500 | 1.02 | -0.18 |
| Max drawdown (3Y) | -92.6% | -88.1% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CD | PULM |
|---|---|---|
| 2022 | -64.8% | -55.7% |
| 2023 | +109.5% | -52.1% |
| 2024 | +162.7% | +275.3% |
| 2025 | -27.2% | -68.1% |
| 2026 | -31.2% | -31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CD and PULM good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CD and PULM?
As of 2026-08-27, the correlation of weekly returns between CD and PULM is 0.53 over 3 years, 0.09 over 1 year and 0.44 over 5 years.
Is PULM a good diversifier for CD?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
A reading of 0.53 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/cd-vs-pulm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cd-vs-pulm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CD correlations · PULM correlations
