ICCM vs MEOH: Correlation
Measured on weekly returns over the past three years, IceCure Medical Ltd. (ICCM) and Methanex Corporation (MEOH) 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 MEOH?
Across a 3-year window, the weekly returns of ICCM and MEOH correlate at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. Stretching to 5 years gives -0.13, with an annualized covariance of -1028.6 %².
Within ICCM's tracked universe of 41 assets, MEOH comes in at #22 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MEOH ahead by 159.4 points (-92.3% versus +67.1%). Risk is not evenly split, since ICCM carries 2.9 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 MEOH: side by side
| ICCM (IceCure Medical Ltd.) | MEOH (Methanex Corporation) | |
|---|---|---|
| 1-year return | -92.3% | +67.1% |
| 5-year return | -99.3% | +74.8% |
| Volatility (ann.) | 117.6% | 40.4% |
| Beta vs S&P 500 | 0.41 | 0.54 |
| Max drawdown (3Y) | -95.4% | -52.2% |
| Market cap | – | $4.5B |
| P/E (trailing) | – | 66.3 |
| Dividend yield | 0.00% | 1.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICCM | MEOH |
|---|---|---|
| 2022 | -49.2% | -2.8% |
| 2023 | -31.0% | +27.3% |
| 2024 | +2.8% | +7.3% |
| 2025 | -44.5% | -18.9% |
| 2026 | -87.5% | +47.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICCM and MEOH good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ICCM and MEOH?
As of 2026-08-27, the correlation of weekly returns between ICCM and MEOH is -0.22 over 3 years, -0.32 over 1 year and -0.13 over 5 years.
Is MEOH a good diversifier for ICCM?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
A reading of -0.22 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
$ curl https://www.pairbook.io/api/v1/pairs/iccm-vs-meoh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iccm-vs-meoh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ICCM correlations · MEOH correlations
