CHMI vs PMEC: Correlation
How closely do Cherry Hill Mortgage Investment Corporation (CHMI) and Primech Holdings Ltd. (PMEC) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHMI and PMEC?
On 3 years of weekly data the CHMI/PMEC correlation comes out at 0.26, weak. The relationship has been stable: the 1-year correlation (0.30) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 1022.5 %².
PMEC is close to the least connected end of CHMI's tracked universe, ranking #9 of 13. The last year tells two different stories: CHMI led by 83.6 percentage points, +19.1% for CHMI against -64.5% for PMEC. Risk is not evenly split, since PMEC carries 2.7 times the volatility of the other side.
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 PMEC: side by side
| CHMI (Cherry Hill Mortgage Investment Corporation) | PMEC (Primech Holdings Ltd.) | |
|---|---|---|
| 1-year return | +19.1% | -64.5% |
| 5-year return | -27.0% | n/a |
| Volatility (ann.) | 38.1% | 103.1% |
| Beta vs S&P 500 | 0.85 | 0.88 |
| Max drawdown (3Y) | -32.7% | -89.9% |
| 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 | PMEC |
|---|---|---|
| 2022 | -17.2% | – |
| 2023 | -18.9% | – |
| 2024 | -21.9% | -71.9% |
| 2025 | +14.9% | +51.1% |
| 2026 | +24.3% | -48.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHMI and PMEC good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CHMI and PMEC?
As of 2026-08-27, the correlation of weekly returns between CHMI and PMEC is 0.26 over 3 years, 0.30 over 1 year and n/a over 5 years.
Is PMEC a good diversifier for CHMI?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
A reading of 0.26 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/chmi-vs-pmec.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chmi-vs-pmec/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHMI correlations · PMEC correlations
