ICCM vs KDP: Correlation
How closely do IceCure Medical Ltd. (ICCM) and Keurig Dr Pepper (KDP) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICCM and KDP?
Across a 3-year window, the weekly returns of ICCM and KDP correlate at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.13 lands near the 3-year figure. Stretching to 5 years gives -0.15, with an annualized covariance of -580.5 %².
Among the 41 assets we track against ICCM, KDP ranks #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with KDP ahead by 103.2 points (-92.3% versus +10.9%). One caveat on sizing: ICCM is 5.0 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.
ICCM vs KDP: side by side
| ICCM (IceCure Medical Ltd.) | KDP (Keurig Dr Pepper) | |
|---|---|---|
| 1-year return | -92.3% | +10.9% |
| 5-year return | -99.3% | +3.1% |
| Volatility (ann.) | 117.6% | 23.6% |
| Beta vs S&P 500 | 0.41 | 0.14 |
| Max drawdown (3Y) | -95.4% | -31.0% |
| Market cap | – | $43.4B |
| P/E (trailing) | – | 32.5 |
| Dividend yield | 0.00% | 2.86% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | ICCM | KDP |
|---|---|---|
| 2022 | -49.2% | -1.2% |
| 2023 | -31.0% | -4.2% |
| 2024 | +2.8% | -1.1% |
| 2025 | -44.5% | -10.1% |
| 2026 | -87.5% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICCM and KDP good diversifiers for each other?
Yes. With a correlation of -0.21, ICCM and KDP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ICCM and KDP?
As of 2026-08-27, the correlation of weekly returns between ICCM and KDP is -0.21 over 3 years, -0.13 over 1 year and -0.15 over 5 years.
Is KDP a good diversifier for ICCM?
Yes. With a correlation of -0.21, ICCM and KDP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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.
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Related comparisons
Hubs: ICCM correlations · KDP correlations
