CDW vs IBM: Correlation
CDW Corporation (CDW) and IBM (IBM) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDW and IBM?
Over the past 3 years, CDW and IBM moved with a correlation of 0.43, which is moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 508.1 %².
Within CDW's tracked universe of 40 assets, IBM comes in at #19 by 3-year correlation. Over the last 12 months IBM came out ahead by 8.1 percentage points (-8.0% against +0.1%). Across three years, the rolling one-year figure varied moderately, from 0.29 to 0.59.
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 IBM: side by side
| CDW (CDW Corporation) | IBM (IBM) | |
|---|---|---|
| 1-year return | -8.0% | +0.1% |
| 5-year return | -20.5% | +117.6% |
| Volatility (ann.) | 34.2% | 34.7% |
| Beta vs S&P 500 | 1.01 | 0.78 |
| Max drawdown (3Y) | -60.4% | -37.5% |
| Market cap | $18.6B | $225.0B |
| P/E (trailing) | 17.0 | 20.4 |
| Dividend yield | 1.78% | 2.93% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | CDW | IBM |
|---|---|---|
| 2022 | -11.7% | +10.6% |
| 2023 | +28.8% | +21.8% |
| 2024 | -22.6% | +39.3% |
| 2025 | -20.6% | +38.2% |
| 2026 | +11.1% | -17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDW and IBM good diversifiers for each other?
Reasonably. At 0.43, CDW and IBM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CDW and IBM?
As of 2026-08-27, the correlation of weekly returns between CDW and IBM is 0.43 over 3 years, 0.45 over 1 year and 0.41 over 5 years.
Is IBM a good diversifier for CDW?
Reasonably. At 0.43, CDW and IBM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 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
$ curl https://www.pairbook.io/api/v1/pairs/cdw-vs-ibm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cdw-vs-ibm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CDW correlations · IBM correlations
