CSX vs ICCM: Correlation
How closely do CSX Corporation (CSX) and IceCure Medical Ltd. (ICCM) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSX and ICCM?
Over the past 3 years, CSX and ICCM moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.35) than the 3-year average (-0.20). Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -456.7 %².
ICCM is close to the least connected end of CSX's tracked universe, ranking #26 of 30. The last year tells two different stories: CSX led by 152.9 percentage points, +60.6% for CSX against -92.3% for ICCM. Risk is not evenly split, since ICCM carries 6.0 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.
CSX vs ICCM: side by side
| CSX (CSX Corporation) | ICCM (IceCure Medical Ltd.) | |
|---|---|---|
| 1-year return | +60.6% | -92.3% |
| 5-year return | +66.2% | -99.3% |
| Volatility (ann.) | 19.7% | 117.6% |
| Beta vs S&P 500 | 0.62 | 0.41 |
| Max drawdown (3Y) | -29.4% | -95.4% |
| Market cap | $95.5B | – |
| P/E (trailing) | 30.1 | – |
| Dividend yield | 1.04% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CSX | ICCM |
|---|---|---|
| 2022 | -16.6% | -49.2% |
| 2023 | +13.5% | -31.0% |
| 2024 | -5.6% | +2.8% |
| 2025 | +14.1% | -44.5% |
| 2026 | +43.1% | -87.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSX and ICCM good diversifiers for each other?
Yes. With a correlation of -0.20, CSX and ICCM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CSX and ICCM?
The CSX/ICCM correlation stands at -0.20 on a 3-year window (1 year: -0.35, 5 years: -0.07), computed from weekly returns as of 2026-08-27.
Is ICCM a good diversifier for CSX?
Yes. With a correlation of -0.20, CSX and ICCM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/csx-vs-iccm.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: CSX correlations · ICCM correlations
