CHE vs NMAD: Correlation
How closely do Chemed Corp (CHE) and Nomad Power Solutions, Inc. (NMAD) trade together? Their weekly returns over three years give a correlation of -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHE and NMAD?
Across a 3-year window, the weekly returns of CHE and NMAD correlate at -0.36, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.08) runs above the 3-year figure (-0.36). Stretching to 5 years gives -0.25, with an annualized covariance of -1842.7 %².
Among the 16 assets we track against CHE, NMAD sits near the bottom by co-movement, at rank #16. On 12-month performance NMAD holds a 14.3-point edge, +14.9% against +29.2%. One caveat on sizing: NMAD is 7.6 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.
CHE vs NMAD: side by side
| CHE (Chemed Corp) | NMAD (Nomad Power Solutions, Inc.) | |
|---|---|---|
| 1-year return | +14.9% | +29.2% |
| 5-year return | +12.2% | -80.2% |
| Volatility (ann.) | 26.0% | 197.9% |
| Beta vs S&P 500 | 0.21 | 0.82 |
| Max drawdown (3Y) | -42.9% | -80.8% |
| Market cap | $6.8B | $0.1B |
| P/E (trailing) | 27.6 | – |
| Dividend yield | 0.44% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHE | NMAD |
|---|---|---|
| 2022 | -3.2% | -57.1% |
| 2023 | +14.9% | -53.9% |
| 2024 | -9.1% | -13.6% |
| 2025 | -18.9% | +93.6% |
| 2026 | +22.1% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHE and NMAD good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between CHE and NMAD?
As of 2026-08-27, the correlation of weekly returns between CHE and NMAD is -0.36 over 3 years, -0.08 over 1 year and -0.25 over 5 years.
Is NMAD a good diversifier for CHE?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 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/che-vs-nmad.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/che-vs-nmad/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHE correlations · NMAD correlations
