CMRE vs ZIM: Correlation
Costamare Inc. (CMRE) and ZIM Integrated Shipping Services Ltd. (ZIM) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMRE and ZIM?
Over the past 3 years, CMRE and ZIM moved with a correlation of 0.50, which is moderate. The link has loosened recently: the 1-year correlation (0.38) runs below the 3-year figure (0.50). Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 1293.1 %².
Within CMRE's tracked universe of 16 assets, ZIM comes in at #7 by 3-year correlation. The last year tells two different stories: ZIM led by 70.3 percentage points, +32.8% for CMRE against +103.1% for ZIM. Note the risk asymmetry: ZIM runs 2.1 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.
CMRE vs ZIM: side by side
| CMRE (Costamare Inc.) | ZIM (ZIM Integrated Shipping Services Ltd.) | |
|---|---|---|
| 1-year return | +32.8% | +103.1% |
| 5-year return | +30.5% | +125.1% |
| Volatility (ann.) | 35.3% | 73.9% |
| Beta vs S&P 500 | 0.73 | 1.32 |
| Max drawdown (3Y) | -57.8% | -46.2% |
| Market cap | $1.9B | $3.4B |
| P/E (trailing) | 5.6 | 24.1 |
| Dividend yield | 3.17% | 4.31% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMRE | ZIM |
|---|---|---|
| 2022 | -22.8% | -52.7% |
| 2023 | +16.2% | -21.1% |
| 2024 | +26.9% | +176.9% |
| 2025 | +26.5% | +25.6% |
| 2026 | -1.3% | +35.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMRE and ZIM good diversifiers for each other?
Only partially. A correlation of 0.50 means CMRE and ZIM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CMRE and ZIM?
The CMRE/ZIM correlation stands at 0.50 on a 3-year window (1 year: 0.38, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is ZIM a good diversifier for CMRE?
Only partially. A correlation of 0.50 means CMRE and ZIM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 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-zim.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cmre-vs-zim/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CMRE correlations · ZIM correlations
