CHMI vs DRMA: Correlation
How closely do Cherry Hill Mortgage Investment Corporation (CHMI) and Dermata Therapeutics, Inc. (DRMA) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHMI and DRMA?
Across a 3-year window, the weekly returns of CHMI and DRMA correlate at 0.40, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Stretching to 5 years gives 0.18, with an annualized covariance of 1370.6 %².
Among the 13 assets we track against CHMI, DRMA ranks #6 by 3-year correlation. The last year tells two different stories: CHMI led by 91.5 percentage points, +19.1% for CHMI against -72.4% for DRMA. Note the risk asymmetry: DRMA runs 2.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CHMI vs DRMA: side by side
| CHMI (Cherry Hill Mortgage Investment Corporation) | DRMA (Dermata Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +19.1% | -72.4% |
| 5-year return | -27.0% | -100.0% |
| Volatility (ann.) | 38.1% | 90.1% |
| Beta vs S&P 500 | 0.85 | 1.23 |
| Max drawdown (3Y) | -32.7% | -99.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | 13.9 | – |
| Dividend yield | 13.65% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHMI | DRMA |
|---|---|---|
| 2022 | -17.2% | -76.5% |
| 2023 | -18.9% | -90.7% |
| 2024 | -21.9% | -85.2% |
| 2025 | +14.9% | -82.8% |
| 2026 | +24.3% | -37.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHMI and DRMA good diversifiers for each other?
Reasonably. At 0.40, CHMI and DRMA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CHMI and DRMA?
The CHMI/DRMA correlation stands at 0.40 on a 3-year window (1 year: 0.45, 5 years: 0.18), computed from weekly returns as of 2026-08-27.
Is DRMA a good diversifier for CHMI?
Reasonably. At 0.40, CHMI and DRMA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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.
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Related comparisons
Hubs: CHMI correlations · DRMA correlations
