CHR vs GMED: Correlation
Cheer Holding, Inc. - Class A (CHR) and Globus Medical, Inc. (GMED) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHR and GMED?
Across a 3-year window, the weekly returns of CHR and GMED correlate at -0.31, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.41) sits close to the 3-year figure. Stretching to 5 years gives -0.17, with an annualized covariance of -1143.3 %².
Out of 20 assets tracked against CHR, GMED lands near the bottom at #19. Their recent paths diverged sharply: over the last 12 months GMED outperformed by 133.1 percentage points (-98.9% for CHR against +34.2% for GMED). Note the risk asymmetry: CHR runs 2.1 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.
CHR vs GMED: side by side
| CHR (Cheer Holding, Inc. - Class A) | GMED (Globus Medical, Inc.) | |
|---|---|---|
| 1-year return | -98.9% | +34.2% |
| 5-year return | -100.0% | +0.4% |
| Volatility (ann.) | 89.2% | 41.6% |
| Beta vs S&P 500 | 0.17 | 0.74 |
| Max drawdown (3Y) | -99.8% | -44.4% |
| Market cap | – | $11.1B |
| P/E (trailing) | – | 21.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHR | GMED |
|---|---|---|
| 2022 | +23.7% | +2.9% |
| 2023 | -78.5% | -28.2% |
| 2024 | -20.7% | +55.2% |
| 2025 | -99.0% | +5.6% |
| 2026 | -52.6% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHR and GMED good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CHR and GMED?
The CHR/GMED correlation stands at -0.31 on a 3-year window (1 year: -0.41, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is GMED a good diversifier for CHR?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 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/chr-vs-gmed.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chr-vs-gmed/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CHR correlations · GMED correlations
