CNM vs ORBS: Correlation
How closely do Core & Main, Inc. (CNM) and Eightco Holdings Inc. (ORBS) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNM and ORBS?
Across a 3-year window, the weekly returns of CNM and ORBS correlate at -0.35, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.64) runs below the 3-year figure (-0.35). Stretching to 5 years gives -0.27, with an annualized covariance of -7928.2 %².
ORBS is close to the least connected end of CNM's tracked universe, ranking #14 of 17. The trailing year gives CNM the advantage: -33.5% versus -44.9%, a 11.4-point spread. Note the risk asymmetry: ORBS runs 14.5 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.
CNM vs ORBS: side by side
| CNM (Core & Main, Inc.) | ORBS (Eightco Holdings Inc.) | |
|---|---|---|
| 1-year return | -33.5% | -44.9% |
| 5-year return | +63.1% | -100.0% |
| Volatility (ann.) | 39.7% | 575.8% |
| Beta vs S&P 500 | 1.19 | 3.91 |
| Max drawdown (3Y) | -38.7% | -98.7% |
| Market cap | $8.5B | $0.3B |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNM | ORBS |
|---|---|---|
| 2022 | -36.4% | – |
| 2023 | +109.3% | -94.6% |
| 2024 | +26.0% | -14.8% |
| 2025 | +2.1% | -21.0% |
| 2026 | -15.8% | -52.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNM and ORBS good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CNM and ORBS?
As of 2026-08-27, the correlation of weekly returns between CNM and ORBS is -0.35 over 3 years, -0.64 over 1 year and -0.27 over 5 years.
Is ORBS a good diversifier for CNM?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 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/cnm-vs-orbs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cnm-vs-orbs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNM correlations · ORBS correlations
