CHMG vs TMP: Correlation
Measured on weekly returns over the past three years, Chemung Financial Corp (CHMG) and Tompkins Financial Corporation (TMP) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHMG and TMP?
Over the past 3 years, CHMG and TMP moved with a correlation of 0.70, which is strong. The relationship has been stable: the 1-year correlation (0.65) sits close to the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 593.3 %².
Within CHMG's tracked universe of 10 assets, TMP comes in at #5 by 3-year correlation. The trailing year gives CHMG the advantage: +55.6% versus +41.8%, a 13.8-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.
CHMG vs TMP: side by side
| CHMG (Chemung Financial Corp) | TMP (Tompkins Financial Corporation) | |
|---|---|---|
| 1-year return | +55.6% | +41.8% |
| 5-year return | +104.0% | +49.6% |
| Volatility (ann.) | 26.7% | 31.6% |
| Beta vs S&P 500 | 0.46 | 0.72 |
| Max drawdown (3Y) | -25.1% | -30.9% |
| Market cap | $0.4B | $1.4B |
| P/E (trailing) | 11.6 | 8.0 |
| Dividend yield | 1.68% | 2.68% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHMG | TMP |
|---|---|---|
| 2022 | +1.6% | -4.4% |
| 2023 | +11.7% | -19.2% |
| 2024 | +0.7% | +17.8% |
| 2025 | +17.3% | +11.1% |
| 2026 | +47.7% | +37.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHMG and TMP good diversifiers for each other?
Only partially. A correlation of 0.70 means CHMG and TMP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CHMG and TMP?
The CHMG/TMP correlation stands at 0.70 on a 3-year window (1 year: 0.65, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is TMP a good diversifier for CHMG?
Only partially. A correlation of 0.70 means CHMG and TMP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
A reading of 0.70 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/chmg-vs-tmp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chmg-vs-tmp/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHMG correlations · TMP correlations
