CTSH vs ICCM: Correlation
Measured on weekly returns over the past three years, Cognizant (CTSH) and IceCure Medical Ltd. (ICCM) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTSH and ICCM?
On 3 years of weekly data the CTSH/ICCM correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. The 5-year figure is -0.10, and annualized covariance runs at -724.4 %².
By 3-year correlation, ICCM places #36 of the 44 assets tracked against CTSH. Their recent paths diverged sharply: over the last 12 months CTSH outperformed by 82.5 percentage points (-9.8% for CTSH against -92.3% for ICCM). One caveat on sizing: ICCM 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.
CTSH vs ICCM: side by side
| CTSH (Cognizant) | ICCM (IceCure Medical Ltd.) | |
|---|---|---|
| 1-year return | -9.8% | -92.3% |
| 5-year return | -9.6% | -99.3% |
| Volatility (ann.) | 32.3% | 117.6% |
| Beta vs S&P 500 | 0.89 | 0.41 |
| Max drawdown (3Y) | -56.1% | -95.4% |
| Market cap | $28.7B | – |
| P/E (trailing) | 13.3 | – |
| Dividend yield | 2.09% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CTSH | ICCM |
|---|---|---|
| 2022 | -34.5% | -49.2% |
| 2023 | +34.4% | -31.0% |
| 2024 | +3.5% | +2.8% |
| 2025 | +9.7% | -44.5% |
| 2026 | -21.8% | -87.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTSH and ICCM good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between CTSH and ICCM?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.28 over the last year and -0.10 over 5 years.
Is ICCM a good diversifier for CTSH?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ctsh-vs-iccm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ctsh-vs-iccm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTSH correlations · ICCM correlations
