CLMB vs EDSA: Correlation
Measured on weekly returns over the past three years, Climb Global Solutions, Inc. (CLMB) and Edesa Biotech, Inc. (EDSA) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLMB and EDSA?
Over the past 3 years, CLMB and EDSA moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.46) runs below the 3-year figure (-0.26). Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -2264.7 %².
Out of 10 assets tracked against CLMB, EDSA lands near the bottom at #8. The last year tells two different stories: EDSA led by 98.4 percentage points, -6.7% for CLMB against +91.7% for EDSA. One caveat on sizing: EDSA is 4.2 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.
CLMB vs EDSA: side by side
| CLMB (Climb Global Solutions, Inc.) | EDSA (Edesa Biotech, Inc.) | |
|---|---|---|
| 1-year return | -6.7% | +91.7% |
| 5-year return | +361.0% | -87.4% |
| Volatility (ann.) | 45.3% | 190.4% |
| Beta vs S&P 500 | 1.04 | -0.03 |
| Max drawdown (3Y) | -53.4% | -87.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 0.33% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLMB | EDSA |
|---|---|---|
| 2022 | -8.3% | -61.6% |
| 2023 | +76.6% | -69.8% |
| 2024 | +133.3% | -63.2% |
| 2025 | -18.4% | -15.5% |
| 2026 | +13.0% | +223.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLMB and EDSA good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between CLMB and EDSA?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.46 over the last year and -0.18 over 5 years.
Is EDSA a good diversifier for CLMB?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/clmb-vs-edsa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clmb-vs-edsa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CLMB correlations · EDSA correlations
