CMRE vs MATX: Correlation
How closely do Costamare Inc. (CMRE) and Matson, Inc. (MATX) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMRE and MATX?
On 3 years of weekly data the CMRE/MATX correlation comes out at 0.54, moderate. The link has loosened recently: the 1-year correlation (0.41) runs below the 3-year figure (0.54). The 5-year figure is 0.51, and annualized covariance runs at 652.8 %².
Among the 16 assets we track against CMRE, MATX ranks #6 by 3-year correlation. The last year tells two different stories: MATX led by 80.0 percentage points, +32.8% for CMRE against +112.8% for MATX.
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 MATX: side by side
| CMRE (Costamare Inc.) | MATX (Matson, Inc.) | |
|---|---|---|
| 1-year return | +32.8% | +112.8% |
| 5-year return | +30.5% | +195.6% |
| Volatility (ann.) | 35.3% | 34.6% |
| Beta vs S&P 500 | 0.73 | 0.80 |
| Max drawdown (3Y) | -57.8% | -46.9% |
| Market cap | $1.9B | $6.6B |
| P/E (trailing) | 5.6 | 14.9 |
| Dividend yield | 3.17% | 0.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMRE | MATX |
|---|---|---|
| 2022 | -22.8% | -29.5% |
| 2023 | +16.2% | +78.2% |
| 2024 | +26.9% | +24.3% |
| 2025 | +26.5% | -7.2% |
| 2026 | -1.3% | +80.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMRE and MATX good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CMRE and MATX?
As of 2026-08-27, the correlation of weekly returns between CMRE and MATX is 0.54 over 3 years, 0.41 over 1 year and 0.51 over 5 years.
Is MATX a good diversifier for CMRE?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CMRE correlations · MATX correlations
