CDIO vs CMT: Correlation
Cardio Diagnostics Holdings Inc. (CDIO) and Core Molding Technologies Inc (CMT) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDIO and CMT?
On 3 years of weekly data the CDIO/CMT correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.12 versus -0.24 over 3 years. The 5-year figure is -0.12, and annualized covariance runs at -2051.4 %².
CMT is close to the least connected end of CDIO's tracked universe, ranking #8 of 11. Correlation aside, the last 12 months split them widely, with CMT ahead by 80.6 points (-50.1% versus +30.5%). Note the risk asymmetry: CDIO runs 5.3 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.
CDIO vs CMT: side by side
| CDIO (Cardio Diagnostics Holdings Inc.) | CMT (Core Molding Technologies Inc) | |
|---|---|---|
| 1-year return | -50.1% | +30.5% |
| 5-year return | -99.4% | +80.4% |
| Volatility (ann.) | 214.2% | 40.3% |
| Beta vs S&P 500 | 3.57 | 0.39 |
| Max drawdown (3Y) | -98.9% | -56.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 29.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDIO | CMT |
|---|---|---|
| 2022 | – | +52.6% |
| 2023 | +134.9% | +42.6% |
| 2024 | -63.2% | -10.7% |
| 2025 | -90.1% | +21.2% |
| 2026 | -31.0% | +24.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDIO and CMT good diversifiers for each other?
Yes. With a correlation of -0.24, CDIO and CMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CDIO and CMT?
The CDIO/CMT correlation stands at -0.24 on a 3-year window (1 year: -0.12, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is CMT a good diversifier for CDIO?
Yes. With a correlation of -0.24, CDIO and CMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cdio-vs-cmt/)
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Related comparisons
Hubs: CDIO correlations · CMT correlations
