CDW vs SNX: Correlation
How closely do CDW Corporation (CDW) and TD SYNNEX Corporation (SNX) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDW and SNX?
On 3 years of weekly data the CDW/SNX correlation comes out at 0.54, moderate. The past 12 months show a weaker link (0.44) than the 3-year average (0.54). The 5-year figure is 0.59, and annualized covariance runs at 575.9 %².
Few assets follow CDW as closely as SNX, which ranks #1 of 40 tracked partners. The last year tells two different stories: SNX led by 84.2 percentage points, -8.0% for CDW against +76.2% for SNX.
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 SNX: side by side
| CDW (CDW Corporation) | SNX (TD SYNNEX Corporation) | |
|---|---|---|
| 1-year return | -8.0% | +76.2% |
| 5-year return | -20.5% | +114.5% |
| Volatility (ann.) | 34.2% | 31.3% |
| Beta vs S&P 500 | 1.01 | 1.15 |
| Max drawdown (3Y) | -60.4% | -33.8% |
| Market cap | $18.6B | – |
| P/E (trailing) | 17.0 | 18.6 |
| Dividend yield | 1.78% | 0.74% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CDW | SNX |
|---|---|---|
| 2022 | -11.7% | -16.1% |
| 2023 | +28.8% | +15.3% |
| 2024 | -22.6% | +10.5% |
| 2025 | -20.6% | +29.8% |
| 2026 | +11.1% | +74.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDW and SNX good diversifiers for each other?
To a limited degree. At 0.54 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 SNX?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.44 over the last year and 0.59 over 5 years.
Is SNX a good diversifier for CDW?
To a limited degree. At 0.54 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 0.54 mean?
On the −1 to +1 scale, 0.54 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-snx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cdw-vs-snx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CDW correlations · SNX correlations
