CRDL vs SLVM: Correlation
Cardiol Therapeutics Inc. - Class A (CRDL) and Sylvamo Corporation (SLVM) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRDL and SLVM?
Over the past 3 years, CRDL and SLVM moved with a correlation of 0.39, which is moderate. The past 12 months show a weaker link (0.22) than the 3-year average (0.39). Over 5 years the correlation is 0.21, and the annualized covariance of weekly returns is 1133.5 %².
SLVM is one of the assets that tracks CRDL most closely: it ranks #1 out of the 10 assets we track against CRDL. Their recent paths diverged sharply: over the last 12 months CRDL outperformed by 99.4 percentage points (+83.9% for CRDL against -15.5% for SLVM). Risk is not evenly split, since CRDL carries 2.0 times the volatility of the other side.
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 SLVM: side by side
| CRDL (Cardiol Therapeutics Inc. - Class A) | SLVM (Sylvamo Corporation) | |
|---|---|---|
| 1-year return | +83.9% | -15.5% |
| 5-year return | -43.7% | +65.7% |
| Volatility (ann.) | 77.0% | 38.0% |
| Beta vs S&P 500 | 1.22 | 0.92 |
| Max drawdown (3Y) | -72.7% | -60.6% |
| Market cap | $0.2B | $1.5B |
| P/E (trailing) | – | 19.6 |
| Dividend yield | 0.00% | 4.91% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRDL | SLVM |
|---|---|---|
| 2022 | -72.4% | +75.3% |
| 2023 | +65.3% | +4.2% |
| 2024 | +51.8% | +64.7% |
| 2025 | -25.5% | -37.1% |
| 2026 | +115.9% | -21.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRDL and SLVM good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CRDL and SLVM?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.22 over the last year and 0.21 over 5 years.
Is SLVM a good diversifier for CRDL?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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/crdl-vs-slvm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/crdl-vs-slvm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRDL correlations · SLVM correlations
