CDW vs HDSN: Correlation
Measured on weekly returns over the past three years, CDW Corporation (CDW) and Hudson Technologies, Inc. (HDSN) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDW and HDSN?
Over the past 3 years, CDW and HDSN moved with a correlation of 0.42, which is moderate. The past 12 months show a tighter link (0.57) than the 3-year average (0.42). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 594.6 %².
By 3-year correlation, HDSN places #24 of the 40 assets tracked against CDW. Correlation aside, the last 12 months split them widely, with CDW ahead by 38.5 points (-8.0% versus -46.5%).
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 HDSN: side by side
| CDW (CDW Corporation) | HDSN (Hudson Technologies, Inc.) | |
|---|---|---|
| 1-year return | -8.0% | -46.5% |
| 5-year return | -20.5% | +68.6% |
| Volatility (ann.) | 34.2% | 41.6% |
| Beta vs S&P 500 | 1.01 | 0.74 |
| Max drawdown (3Y) | -60.4% | -67.6% |
| Market cap | $18.6B | $0.2B |
| P/E (trailing) | 17.0 | 24.9 |
| Dividend yield | 1.78% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CDW | HDSN |
|---|---|---|
| 2022 | -11.7% | +127.9% |
| 2023 | +28.8% | +33.3% |
| 2024 | -22.6% | -58.6% |
| 2025 | -20.6% | +22.8% |
| 2026 | +11.1% | -20.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDW and HDSN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CDW and HDSN?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.57 over the last year and 0.38 over 5 years.
Is HDSN a good diversifier for CDW?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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/cdw-vs-hdsn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cdw-vs-hdsn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CDW correlations · HDSN correlations
