CDW vs CNXN: Correlation
Measured on weekly returns over the past three years, CDW Corporation (CDW) and PC Connection, Inc. (CNXN) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDW and CNXN?
Across a 3-year window, the weekly returns of CDW and CNXN correlate at 0.52, moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.52 over 3. Stretching to 5 years gives 0.46, with an annualized covariance of 488.1 %².
CNXN is one of the assets that tracks CDW most closely: it ranks #2 out of the 40 assets we track against CDW. The last year tells two different stories: CNXN led by 34.2 percentage points, -8.0% for CDW against +26.2% for CNXN.
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.
CDW vs CNXN: side by side
| CDW (CDW Corporation) | CNXN (PC Connection, Inc.) | |
|---|---|---|
| 1-year return | -8.0% | +26.2% |
| 5-year return | -20.5% | +75.2% |
| Volatility (ann.) | 34.2% | 27.3% |
| Beta vs S&P 500 | 1.01 | 0.86 |
| Max drawdown (3Y) | -60.4% | -26.3% |
| Market cap | $18.6B | $2.0B |
| P/E (trailing) | 17.0 | 21.0 |
| Dividend yield | 1.78% | 0.88% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CDW | CNXN |
|---|---|---|
| 2022 | -11.7% | +9.4% |
| 2023 | +28.8% | +44.3% |
| 2024 | -22.6% | +3.7% |
| 2025 | -20.6% | -15.8% |
| 2026 | +11.1% | +40.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDW and CNXN good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CDW and CNXN?
As of 2026-08-27, the correlation of weekly returns between CDW and CNXN is 0.52 over 3 years, 0.53 over 1 year and 0.46 over 5 years.
Is CNXN a good diversifier for CDW?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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
$ curl https://www.pairbook.io/api/v1/pairs/cdw-vs-cnxn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cdw-vs-cnxn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CDW correlations · CNXN correlations
