CDW vs PM: Correlation
How closely do CDW Corporation (CDW) and Philip Morris International (PM) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDW and PM?
Over the past 3 years, CDW and PM moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.33 lands near the 3-year figure. Over 5 years the correlation is -0.03, and the annualized covariance of weekly returns is -178.2 %².
Within CDW's tracked universe of 40 assets, PM comes in at #35 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PM ahead by 28.2 points (-8.0% versus +20.2%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.34 to 0.34.
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 PM: side by side
| CDW (CDW Corporation) | PM (Philip Morris International) | |
|---|---|---|
| 1-year return | -8.0% | +20.2% |
| 5-year return | -20.5% | +133.5% |
| Volatility (ann.) | 34.2% | 23.1% |
| Beta vs S&P 500 | 1.01 | -0.01 |
| Max drawdown (3Y) | -60.4% | -20.6% |
| Market cap | $18.6B | $296.9B |
| P/E (trailing) | 17.0 | 26.7 |
| Dividend yield | 1.78% | 3.03% |
| Sector / category | Information Technology | Consumer Staples |
Year-by-year returns
| Year | CDW | PM |
|---|---|---|
| 2022 | -11.7% | +12.3% |
| 2023 | +28.8% | -1.9% |
| 2024 | -22.6% | +34.3% |
| 2025 | -20.6% | +38.0% |
| 2026 | +11.1% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDW and PM good diversifiers for each other?
Yes. With a correlation of -0.23, CDW and PM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CDW and PM?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.33 over the last year and -0.03 over 5 years.
Is PM a good diversifier for CDW?
Yes. With a correlation of -0.23, CDW and PM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 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-pm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cdw-vs-pm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CDW correlations · PM correlations
