CM vs RF: Correlation
Canadian Imperial Bank of Commerce (CM) and Regions Financial Corporation (RF) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CM and RF?
Over the past 3 years, CM and RF moved with a correlation of 0.62, which is strong. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 351.0 %².
By 3-year correlation, RF places #5 of the 10 assets tracked against CM. Their recent paths diverged sharply: over the last 12 months CM outperformed by 39.4 percentage points (+54.8% for CM against +15.4% for RF). One caveat on sizing: RF is 1.5 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.
CM vs RF: side by side
| CM (Canadian Imperial Bank of Commerce) | RF (Regions Financial Corporation) | |
|---|---|---|
| 1-year return | +54.8% | +15.4% |
| 5-year return | +145.1% | +83.5% |
| Volatility (ann.) | 19.2% | 29.2% |
| Beta vs S&P 500 | 0.57 | 1.09 |
| Max drawdown (3Y) | -17.4% | -31.9% |
| Market cap | $104.3B | $25.9B |
| P/E (trailing) | 16.2 | 12.4 |
| Dividend yield | 0.00% | 3.45% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | CM | RF |
|---|---|---|
| 2022 | -26.8% | +2.3% |
| 2023 | +26.5% | -5.7% |
| 2024 | +37.8% | +27.0% |
| 2025 | +46.5% | +20.2% |
| 2026 | +28.6% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CM and RF good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CM and RF?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.59 over the last year and 0.61 over 5 years.
Is RF a good diversifier for CM?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
A reading of 0.62 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/cm-vs-rf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cm-vs-rf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CM correlations · RF correlations
