ICCM vs TBN: Correlation
How closely do IceCure Medical Ltd. (ICCM) and Tamboran Resources Corporation (TBN) trade together? Their weekly returns over three years give a correlation of -0.38, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICCM and TBN?
Over the past 3 years, ICCM and TBN moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.47 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -2408.4 %².
Among the 41 assets we track against ICCM, TBN sits near the bottom by co-movement, at rank #41. The last year tells two different stories: TBN led by 179.0 percentage points, -92.3% for ICCM against +86.7% for TBN. Risk is not evenly split, since ICCM carries 2.2 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 TBN: side by side
| ICCM (IceCure Medical Ltd.) | TBN (Tamboran Resources Corporation) | |
|---|---|---|
| 1-year return | -92.3% | +86.7% |
| 5-year return | -99.3% | n/a |
| Volatility (ann.) | 117.6% | 52.6% |
| Beta vs S&P 500 | 0.41 | -0.08 |
| Max drawdown (3Y) | -95.4% | -38.6% |
| Market cap | – | $1.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICCM | TBN |
|---|---|---|
| 2022 | -49.2% | – |
| 2023 | -31.0% | – |
| 2024 | +2.8% | – |
| 2025 | -44.5% | +29.7% |
| 2026 | -87.5% | +38.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICCM and TBN good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between ICCM and TBN?
The ICCM/TBN correlation stands at -0.38 on a 3-year window (1 year: -0.47, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TBN a good diversifier for ICCM?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
A reading of -0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ICCM correlations · TBN correlations
