CM vs RFAI: Correlation
Measured on weekly returns over the past three years, Canadian Imperial Bank of Commerce (CM) and RF Acquisition Corp II (RFAI) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CM and RFAI?
Over the past 3 years, CM and RFAI moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.34 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1322.7 %².
Out of 10 assets tracked against CM, RFAI lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with RFAI ahead by 334.7 points (+54.8% versus +389.5%). Note the risk asymmetry: RFAI runs 15.0 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.
CM vs RFAI: side by side
| CM (Canadian Imperial Bank of Commerce) | RFAI (RF Acquisition Corp II) | |
|---|---|---|
| 1-year return | +54.8% | +389.5% |
| 5-year return | +145.1% | n/a |
| Volatility (ann.) | 19.2% | 288.3% |
| Beta vs S&P 500 | 0.57 | -1.62 |
| Max drawdown (3Y) | -17.4% | -16.5% |
| Market cap | $104.3B | $0.4B |
| P/E (trailing) | 16.2 | 399.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CM | RFAI |
|---|---|---|
| 2022 | -26.8% | – |
| 2023 | +26.5% | – |
| 2024 | +37.8% | – |
| 2025 | +46.5% | +5.2% |
| 2026 | +28.6% | +383.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CM and RFAI good diversifiers for each other?
Yes. With a correlation of -0.25, CM and RFAI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CM and RFAI?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.34 over the last year and n/a over 5 years.
Is RFAI a good diversifier for CM?
Yes. With a correlation of -0.25, CM and RFAI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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/cm-vs-rfai.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cm-vs-rfai/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CM correlations · RFAI correlations
