CRDL vs PMTS: Correlation
How closely do Cardiol Therapeutics Inc. - Class A (CRDL) and CPI Card Group Inc. (PMTS) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRDL and PMTS?
On 3 years of weekly data the CRDL/PMTS correlation comes out at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. The 5-year figure is 0.30, and annualized covariance runs at 1911.8 %².
PMTS is one of the assets that tracks CRDL most closely: it ranks #3 out of the 10 assets we track against CRDL. Twelve-month performance is nearly a tie, at +83.9% for CRDL and +86.5% for PMTS.
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.
CRDL vs PMTS: side by side
| CRDL (Cardiol Therapeutics Inc. - Class A) | PMTS (CPI Card Group Inc.) | |
|---|---|---|
| 1-year return | +83.9% | +86.5% |
| 5-year return | -43.7% | +3.4% |
| Volatility (ann.) | 77.0% | 65.4% |
| Beta vs S&P 500 | 1.22 | 1.51 |
| Max drawdown (3Y) | -72.7% | -67.1% |
| Market cap | $0.2B | $0.3B |
| P/E (trailing) | – | 25.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRDL | PMTS |
|---|---|---|
| 2022 | -72.4% | +94.5% |
| 2023 | +65.3% | -46.8% |
| 2024 | +51.8% | +55.8% |
| 2025 | -25.5% | -50.9% |
| 2026 | +115.9% | +97.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRDL and PMTS good diversifiers for each other?
Reasonably. At 0.38, CRDL and PMTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CRDL and PMTS?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.31 over the last year and 0.30 over 5 years.
Is PMTS a good diversifier for CRDL?
Reasonably. At 0.38, CRDL and PMTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/crdl-vs-pmts.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/crdl-vs-pmts/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRDL correlations · PMTS correlations
