CMRE vs INDV: Correlation
Measured on weekly returns over the past three years, Costamare Inc. (CMRE) and Indivior Pharmaceuticals, Inc. (INDV) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMRE and INDV?
On 3 years of weekly data the CMRE/INDV correlation comes out at 0.32, moderate. Recent behaviour matches the longer record: 0.29 over 1 year against 0.32 over 3. The 5-year figure is -0.03, and annualized covariance runs at 625.2 %².
Within CMRE's tracked universe of 16 assets, INDV comes in at #10 by 3-year correlation. Over the last 12 months INDV came out ahead by 12.1 percentage points (+32.8% against +44.9%). Risk is not evenly split, since INDV carries 1.6 times the volatility of the other side.
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.
CMRE vs INDV: side by side
| CMRE (Costamare Inc.) | INDV (Indivior Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +32.8% | +44.9% |
| 5-year return | +30.5% | +166.9% |
| Volatility (ann.) | 35.3% | 55.2% |
| Beta vs S&P 500 | 0.73 | 0.47 |
| Max drawdown (3Y) | -57.8% | -67.7% |
| Market cap | $1.9B | $4.2B |
| P/E (trailing) | 5.6 | 12.7 |
| Dividend yield | 3.17% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMRE | INDV |
|---|---|---|
| 2022 | -22.8% | +26.1% |
| 2023 | +16.2% | -29.8% |
| 2024 | +26.9% | -18.6% |
| 2025 | +26.5% | +188.7% |
| 2026 | -1.3% | -1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMRE and INDV good diversifiers for each other?
Reasonably. At 0.32, CMRE and INDV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CMRE and INDV?
As of 2026-08-27, the correlation of weekly returns between CMRE and INDV is 0.32 over 3 years, 0.29 over 1 year and -0.03 over 5 years.
Is INDV a good diversifier for CMRE?
Reasonably. At 0.32, CMRE and INDV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 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/cmre-vs-indv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmre-vs-indv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CMRE correlations · INDV correlations
