ICCM vs UNP: Correlation
Measured on weekly returns over the past three years, IceCure Medical Ltd. (ICCM) and Union Pacific Corporation (UNP) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICCM and UNP?
On 3 years of weekly data the ICCM/UNP correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.17). The 5-year figure is -0.10, and annualized covariance runs at -420.2 %².
By 3-year correlation, UNP places #11 of the 41 assets tracked against ICCM. The last year tells two different stories: UNP led by 134.7 percentage points, -92.3% for ICCM against +42.4% for UNP. Risk is not evenly split, since ICCM carries 5.7 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 UNP: side by side
| ICCM (IceCure Medical Ltd.) | UNP (Union Pacific Corporation) | |
|---|---|---|
| 1-year return | -92.3% | +42.4% |
| 5-year return | -99.3% | +56.5% |
| Volatility (ann.) | 117.6% | 20.6% |
| Beta vs S&P 500 | 0.41 | 0.56 |
| Max drawdown (3Y) | -95.4% | -17.8% |
| Market cap | – | $182.8B |
| P/E (trailing) | – | 25.1 |
| Dividend yield | 0.00% | 1.78% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ICCM | UNP |
|---|---|---|
| 2022 | -49.2% | -15.9% |
| 2023 | -31.0% | +21.6% |
| 2024 | +2.8% | -5.1% |
| 2025 | -44.5% | +3.9% |
| 2026 | -87.5% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICCM and UNP good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ICCM and UNP?
The ICCM/UNP correlation stands at -0.17 on a 3-year window (1 year: -0.36, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is UNP a good diversifier for ICCM?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
A reading of -0.17 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-unp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iccm-vs-unp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ICCM correlations · UNP correlations
