CDW vs USA: Correlation
CDW Corporation (CDW) and Liberty All-Star Equity Fund (USA) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDW and USA?
On 3 years of weekly data the CDW/USA correlation comes out at 0.46, moderate. The link has loosened recently: the 1-year correlation (0.34) runs below the 3-year figure (0.46). The 5-year figure is 0.48, and annualized covariance runs at 240.3 %².
Within CDW's tracked universe of 40 assets, USA comes in at #15 by 3-year correlation. On 12-month performance USA holds a 9.6-point edge, -8.0% against +1.6%. One caveat on sizing: CDW is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 USA: side by side
| CDW (CDW Corporation) | USA (Liberty All-Star Equity Fund) | |
|---|---|---|
| 1-year return | -8.0% | +1.6% |
| 5-year return | -20.5% | +18.1% |
| Volatility (ann.) | 34.2% | 15.2% |
| Beta vs S&P 500 | 1.01 | 0.89 |
| Max drawdown (3Y) | -60.4% | -17.7% |
| Market cap | $18.6B | – |
| P/E (trailing) | 17.0 | 10.7 |
| Dividend yield | 1.78% | 11.19% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CDW | USA |
|---|---|---|
| 2022 | -11.7% | -25.2% |
| 2023 | +28.8% | +23.2% |
| 2024 | -22.6% | +20.8% |
| 2025 | -20.6% | +0.1% |
| 2026 | +11.1% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDW and USA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CDW and USA?
The CDW/USA correlation stands at 0.46 on a 3-year window (1 year: 0.34, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is USA a good diversifier for CDW?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CDW correlations · USA correlations
