ICCM vs JRSH: Correlation
How closely do IceCure Medical Ltd. (ICCM) and Jerash Holdings (US), Inc. (JRSH) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICCM and JRSH?
Over the past 3 years, ICCM and JRSH moved with a correlation of 0.42, which is moderate. The link has tightened recently: the 1-year correlation (0.62) runs above the 3-year figure (0.42). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 1370.7 %².
In ICCM's tracked universe of 41 assets, JRSH sits right near the top at #2. The last year tells two different stories: JRSH led by 166.8 percentage points, -92.3% for ICCM against +74.5% for JRSH. Risk is not evenly split, since ICCM carries 4.2 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 JRSH: side by side
| ICCM (IceCure Medical Ltd.) | JRSH (Jerash Holdings (US), Inc.) | |
|---|---|---|
| 1-year return | -92.3% | +74.5% |
| 5-year return | -99.3% | -9.0% |
| Volatility (ann.) | 117.6% | 27.8% |
| Beta vs S&P 500 | 0.41 | 0.45 |
| Max drawdown (3Y) | -95.4% | -25.2% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 15.0 |
| Dividend yield | 0.00% | 3.55% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICCM | JRSH |
|---|---|---|
| 2022 | -49.2% | -37.6% |
| 2023 | -31.0% | -15.5% |
| 2024 | +2.8% | +17.2% |
| 2025 | -44.5% | -5.4% |
| 2026 | -87.5% | +89.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICCM and JRSH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ICCM and JRSH?
As of 2026-08-27, the correlation of weekly returns between ICCM and JRSH is 0.42 over 3 years, 0.62 over 1 year and 0.28 over 5 years.
Is JRSH a good diversifier for ICCM?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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[](https://www.pairbook.io/pair/iccm-vs-jrsh/)
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Related comparisons
Hubs: ICCM correlations · JRSH correlations
