CHR vs MRK: Correlation
How closely do Cheer Holding, Inc. - Class A (CHR) and Merck & Co. (MRK) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHR and MRK?
Over the past 3 years, CHR and MRK moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -485.2 %².
By 3-year correlation, MRK places #9 of the 20 assets tracked against CHR. Correlation aside, the last 12 months split them widely, with MRK ahead by 182.7 points (-98.9% versus +83.8%). One caveat on sizing: CHR is 3.2 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.
CHR vs MRK: side by side
| CHR (Cheer Holding, Inc. - Class A) | MRK (Merck & Co.) | |
|---|---|---|
| 1-year return | -98.9% | +83.8% |
| 5-year return | -100.0% | +128.5% |
| Volatility (ann.) | 89.2% | 27.9% |
| Beta vs S&P 500 | 0.17 | 0.28 |
| Max drawdown (3Y) | -99.8% | -43.4% |
| Market cap | – | $368.9B |
| P/E (trailing) | – | 121.6 |
| Dividend yield | 0.00% | 2.17% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | CHR | MRK |
|---|---|---|
| 2022 | +23.7% | +49.4% |
| 2023 | -78.5% | +1.0% |
| 2024 | -20.7% | -6.3% |
| 2025 | -99.0% | +9.8% |
| 2026 | -52.6% | +44.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHR and MRK good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CHR and MRK?
As of 2026-08-27, the correlation of weekly returns between CHR and MRK is -0.19 over 3 years, -0.26 over 1 year and -0.13 over 5 years.
Is MRK a good diversifier for CHR?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 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-mrk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chr-vs-mrk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHR correlations · MRK correlations
