CNMD vs CUBE: Correlation
CONMED Corporation (CNMD) and CubeSmart (CUBE) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNMD and CUBE?
On 3 years of weekly data the CNMD/CUBE correlation comes out at 0.51, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.51 over 3. The 5-year figure is 0.51, and annualized covariance runs at 445.1 %².
CUBE is one of the assets that tracks CNMD most closely: it ranks #2 out of the 11 assets we track against CNMD. Over the last 12 months CUBE came out ahead by 11.0 percentage points (-7.2% against +3.8%). Risk is not evenly split, since CNMD carries 1.7 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.
CNMD vs CUBE: side by side
| CNMD (CONMED Corporation) | CUBE (CubeSmart) | |
|---|---|---|
| 1-year return | -7.2% | +3.8% |
| 5-year return | -60.5% | -6.2% |
| Volatility (ann.) | 38.2% | 23.0% |
| Beta vs S&P 500 | 0.60 | 0.63 |
| Max drawdown (3Y) | -71.4% | -32.0% |
| Market cap | $1.5B | $9.0B |
| P/E (trailing) | 27.2 | 27.6 |
| Dividend yield | 0.40% | 5.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNMD | CUBE |
|---|---|---|
| 2022 | -37.0% | -26.3% |
| 2023 | +24.5% | +20.5% |
| 2024 | -36.8% | -4.5% |
| 2025 | -40.0% | -11.6% |
| 2026 | +23.9% | +15.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNMD and CUBE good diversifiers for each other?
Only partially. A correlation of 0.51 means CNMD and CUBE 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 CNMD and CUBE?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.52 over the last year and 0.51 over 5 years.
Is CUBE a good diversifier for CNMD?
Only partially. A correlation of 0.51 means CNMD and CUBE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
A reading of 0.51 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnmd-vs-cube.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cnmd-vs-cube/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNMD correlations · CUBE correlations
