CPIX vs IEX: Correlation
Measured on weekly returns over the past three years, Cumberland Pharmaceuticals Inc. (CPIX) and IDEX Corporation (IEX) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPIX and IEX?
Over the past 3 years, CPIX and IEX moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.12 versus -0.16 over 3 years. Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -437.9 %².
By 3-year correlation, IEX places #10 of the 16 assets tracked against CPIX. Correlation aside, the last 12 months split them widely, with CPIX ahead by 185.1 points (+228.1% versus +43.0%). Note the risk asymmetry: CPIX runs 5.1 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.
CPIX vs IEX: side by side
| CPIX (Cumberland Pharmaceuticals Inc.) | IEX (IDEX Corporation) | |
|---|---|---|
| 1-year return | +228.1% | +43.0% |
| 5-year return | +295.6% | +10.5% |
| Volatility (ann.) | 117.9% | 23.3% |
| Beta vs S&P 500 | 0.07 | 0.89 |
| Max drawdown (3Y) | -71.9% | -34.6% |
| Market cap | $0.1B | $17.2B |
| P/E (trailing) | – | 33.8 |
| Dividend yield | 0.00% | 1.23% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CPIX | IEX |
|---|---|---|
| 2022 | -51.8% | -2.2% |
| 2023 | -20.4% | -3.8% |
| 2024 | +32.4% | -2.4% |
| 2025 | +67.9% | -13.7% |
| 2026 | +180.3% | +32.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPIX and IEX good diversifiers for each other?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between CPIX and IEX?
Using weekly returns as of 2026-08-27: -0.16 over 3 years, with 0.12 over the last year and -0.08 over 5 years.
Is IEX a good diversifier for CPIX?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
What does a correlation of -0.16 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/cpix-vs-iex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cpix-vs-iex/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CPIX correlations · IEX correlations
