CHCO vs UTMD: Correlation
City Holding Company (CHCO) and Utah Medical Products, Inc. (UTMD) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHCO and UTMD?
On 3 years of weekly data the CHCO/UTMD correlation comes out at 0.55, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.44 versus 0.55 over 3 years. The 5-year figure is 0.33, and annualized covariance runs at 249.5 %².
Among the 16 assets we track against CHCO, UTMD ranks #10 by 3-year correlation. The trailing year gives UTMD the advantage: +13.3% versus +19.8%, a 6.5-point spread.
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.
CHCO vs UTMD: side by side
| CHCO (City Holding Company) | UTMD (Utah Medical Products, Inc.) | |
|---|---|---|
| 1-year return | +13.3% | +19.8% |
| 5-year return | +113.1% | -11.0% |
| Volatility (ann.) | 20.7% | 22.1% |
| Beta vs S&P 500 | 0.45 | 0.50 |
| Max drawdown (3Y) | -18.4% | -42.5% |
| Market cap | $2.0B | $0.2B |
| P/E (trailing) | 15.7 | 21.6 |
| Dividend yield | 2.41% | 1.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHCO | UTMD |
|---|---|---|
| 2022 | +17.3% | +1.9% |
| 2023 | +22.0% | -15.1% |
| 2024 | +10.4% | -25.7% |
| 2025 | +3.4% | -7.0% |
| 2026 | +22.6% | +29.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHCO and UTMD good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CHCO and UTMD?
As of 2026-08-27, the correlation of weekly returns between CHCO and UTMD is 0.55 over 3 years, 0.44 over 1 year and 0.33 over 5 years.
Is UTMD a good diversifier for CHCO?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
A reading of 0.55 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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Hubs: CHCO correlations · UTMD correlations
