CPHI vs IBM: Correlation
Measured on weekly returns over the past three years, China Pharma Holdings, Inc. (CPHI) and IBM (IBM) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPHI and IBM?
Over the past 3 years, CPHI and IBM moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.39) runs below the 3-year figure (-0.23). Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -910.4 %².
Out of 16 assets tracked against CPHI, IBM lands near the bottom at #12. The last year tells two different stories: IBM led by 36.8 percentage points, -36.7% for CPHI against +0.1% for IBM. Note the risk asymmetry: CPHI runs 3.2 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.
CPHI vs IBM: side by side
| CPHI (China Pharma Holdings, Inc.) | IBM (IBM) | |
|---|---|---|
| 1-year return | -36.7% | +0.1% |
| 5-year return | -99.7% | +117.6% |
| Volatility (ann.) | 112.2% | 34.7% |
| Beta vs S&P 500 | 0.27 | 0.78 |
| Max drawdown (3Y) | -95.0% | -37.5% |
| Market cap | – | $225.0B |
| P/E (trailing) | – | 20.4 |
| Dividend yield | 0.00% | 2.93% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | CPHI | IBM |
|---|---|---|
| 2022 | -79.2% | +10.6% |
| 2023 | -88.0% | +21.8% |
| 2024 | -61.7% | +39.3% |
| 2025 | -47.4% | +38.2% |
| 2026 | -26.8% | -17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPHI and IBM good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between CPHI and IBM?
As of 2026-08-27, the correlation of weekly returns between CPHI and IBM is -0.23 over 3 years, -0.39 over 1 year and -0.16 over 5 years.
Is IBM a good diversifier for CPHI?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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-ibm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cphi-vs-ibm/)
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Related comparisons
Hubs: CPHI correlations · IBM correlations
