ICCM vs VLO: Correlation
Measured on weekly returns over the past three years, IceCure Medical Ltd. (ICCM) and Valero Energy (VLO) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICCM and VLO?
Over the past 3 years, ICCM and VLO moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -765.0 %².
By 3-year correlation, VLO places #15 of the 41 assets tracked against ICCM. Their recent paths diverged sharply: over the last 12 months VLO outperformed by 227.1 percentage points (-92.3% for ICCM against +134.8% for VLO). Note the risk asymmetry: ICCM runs 3.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 VLO: side by side
| ICCM (IceCure Medical Ltd.) | VLO (Valero Energy) | |
|---|---|---|
| 1-year return | -92.3% | +134.8% |
| 5-year return | -99.3% | +512.9% |
| Volatility (ann.) | 117.6% | 34.8% |
| Beta vs S&P 500 | 0.41 | 0.55 |
| Max drawdown (3Y) | -95.4% | -41.2% |
| Market cap | – | $99.8B |
| P/E (trailing) | – | 14.5 |
| Dividend yield | 0.00% | 1.34% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | ICCM | VLO |
|---|---|---|
| 2022 | -49.2% | +75.0% |
| 2023 | -31.0% | +5.9% |
| 2024 | +2.8% | -3.0% |
| 2025 | -44.5% | +37.0% |
| 2026 | -87.5% | +116.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICCM and VLO good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between ICCM and VLO?
As of 2026-08-27, the correlation of weekly returns between ICCM and VLO is -0.19 over 3 years, -0.20 over 1 year and -0.12 over 5 years.
Is VLO a good diversifier for ICCM?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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 · VLO correlations
