CPHI vs ERIE: Correlation
How closely do China Pharma Holdings, Inc. (CPHI) and Erie Indemnity (ERIE) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPHI and ERIE?
Across a 3-year window, the weekly returns of CPHI and ERIE correlate at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.29) sits close to the 3-year figure. Stretching to 5 years gives -0.12, with an annualized covariance of -709.6 %².
Among the 16 assets we track against CPHI, ERIE ranks #11 by 3-year correlation. The trailing year gives ERIE the advantage: -36.7% versus -24.5%, a 12.2-point spread. One caveat on sizing: CPHI is 3.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CPHI vs ERIE: side by side
| CPHI (China Pharma Holdings, Inc.) | ERIE (Erie Indemnity) | |
|---|---|---|
| 1-year return | -36.7% | -24.5% |
| 5-year return | -99.7% | +61.3% |
| Volatility (ann.) | 112.2% | 30.3% |
| Beta vs S&P 500 | 0.27 | 0.37 |
| Max drawdown (3Y) | -95.0% | -60.9% |
| Market cap | – | $13.6B |
| P/E (trailing) | – | 23.4 |
| Dividend yield | 0.00% | 2.24% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | CPHI | ERIE |
|---|---|---|
| 2022 | -79.2% | +32.0% |
| 2023 | -88.0% | +37.3% |
| 2024 | -61.7% | +24.7% |
| 2025 | -47.4% | -29.4% |
| 2026 | -26.8% | -8.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPHI and ERIE good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CPHI and ERIE?
The CPHI/ERIE correlation stands at -0.21 on a 3-year window (1 year: -0.29, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is ERIE a good diversifier for CPHI?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cphi-vs-erie.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cphi-vs-erie/)
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Related comparisons
Hubs: CPHI correlations · ERIE correlations
