ICCM vs IMO: Correlation
Measured on weekly returns over the past three years, IceCure Medical Ltd. (ICCM) and Imperial Oil Limited (IMO) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICCM and IMO?
On 3 years of weekly data the ICCM/IMO correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.22 over 3. The 5-year figure is -0.12, and annualized covariance runs at -731.0 %².
Among the 41 assets we track against ICCM, IMO ranks #20 by 3-year correlation. The last year tells two different stories: IMO led by 142.7 percentage points, -92.3% for ICCM against +50.4% for IMO. Risk is not evenly split, since ICCM carries 4.1 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.
ICCM vs IMO: side by side
| ICCM (IceCure Medical Ltd.) | IMO (Imperial Oil Limited) | |
|---|---|---|
| 1-year return | -92.3% | +50.4% |
| 5-year return | -99.3% | +468.0% |
| Volatility (ann.) | 117.6% | 28.8% |
| Beta vs S&P 500 | 0.41 | 0.24 |
| Max drawdown (3Y) | -95.4% | -22.9% |
| Market cap | – | – |
| P/E (trailing) | – | 21.2 |
| Dividend yield | 0.00% | 2.42% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICCM | IMO |
|---|---|---|
| 2022 | -49.2% | +38.0% |
| 2023 | -31.0% | +20.6% |
| 2024 | +2.8% | +10.5% |
| 2025 | -44.5% | +43.8% |
| 2026 | -87.5% | +54.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICCM and IMO good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between ICCM and IMO?
As of 2026-08-27, the correlation of weekly returns between ICCM and IMO is -0.22 over 3 years, -0.27 over 1 year and -0.12 over 5 years.
Is IMO a good diversifier for ICCM?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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.
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Related comparisons
Hubs: ICCM correlations · IMO correlations
