CPHI vs ISRG: Correlation
How closely do China Pharma Holdings, Inc. (CPHI) and Intuitive Surgical (ISRG) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPHI and ISRG?
Across a 3-year window, the weekly returns of CPHI and ISRG correlate at -0.19, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.31) than the 3-year average (-0.19). Stretching to 5 years gives -0.03, with an annualized covariance of -657.9 %².
Among the 16 assets we track against CPHI, ISRG ranks #9 by 3-year correlation. On 12-month performance ISRG holds a 14.6-point edge, -36.7% against -22.1%. One caveat on sizing: CPHI is 3.6 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 ISRG: side by side
| CPHI (China Pharma Holdings, Inc.) | ISRG (Intuitive Surgical) | |
|---|---|---|
| 1-year return | -36.7% | -22.1% |
| 5-year return | -99.7% | +4.0% |
| Volatility (ann.) | 112.2% | 31.1% |
| Beta vs S&P 500 | 0.27 | 1.20 |
| Max drawdown (3Y) | -95.0% | -45.6% |
| Market cap | – | $131.5B |
| P/E (trailing) | – | 42.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | CPHI | ISRG |
|---|---|---|
| 2022 | -79.2% | -26.1% |
| 2023 | -88.0% | +27.1% |
| 2024 | -61.7% | +54.7% |
| 2025 | -47.4% | +8.5% |
| 2026 | -26.8% | -35.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPHI and ISRG good diversifiers for each other?
Yes. With a correlation of -0.19, CPHI and ISRG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CPHI and ISRG?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.31 over the last year and -0.03 over 5 years.
Is ISRG a good diversifier for CPHI?
Yes. With a correlation of -0.19, CPHI and ISRG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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.
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Hubs: CPHI correlations · ISRG correlations
