ICCM vs PBT: Correlation
IceCure Medical Ltd. (ICCM) and Permian Basin Royalty Trust (PBT) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICCM and PBT?
Over the past 3 years, ICCM and PBT moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -1213.8 %².
Among the 41 assets we track against ICCM, PBT ranks #36 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PBT ahead by 200.7 points (-92.3% versus +108.4%). Risk is not evenly split, since ICCM carries 3.0 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 PBT: side by side
| ICCM (IceCure Medical Ltd.) | PBT (Permian Basin Royalty Trust) | |
|---|---|---|
| 1-year return | -92.3% | +108.4% |
| 5-year return | -99.3% | +669.6% |
| Volatility (ann.) | 117.6% | 39.6% |
| Beta vs S&P 500 | 0.41 | 0.48 |
| Max drawdown (3Y) | -95.4% | -57.6% |
| Market cap | – | $1.6B |
| P/E (trailing) | – | 96.2 |
| Dividend yield | 0.00% | 0.81% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICCM | PBT |
|---|---|---|
| 2022 | -49.2% | +166.2% |
| 2023 | -31.0% | -42.8% |
| 2024 | +2.8% | -16.9% |
| 2025 | -44.5% | +56.6% |
| 2026 | -87.5% | +100.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICCM and PBT good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between ICCM and PBT?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.32 over the last year and -0.07 over 5 years.
Is PBT a good diversifier for ICCM?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iccm-vs-pbt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iccm-vs-pbt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ICCM correlations · PBT correlations
