SCHW vs SHIM: Correlation
Measured on weekly returns over the past three years, Charles Schwab Corporation (SCHW) and Shimmick Corporation (SHIM) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCHW and SHIM?
Over the past 3 years, SCHW and SHIM moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.07 versus -0.20 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -649.8 %².
Within SCHW's tracked universe of 27 assets, SHIM comes in at #19 by 3-year correlation. The trailing year gives SHIM the advantage: +13.0% versus +21.3%, a 8.3-point spread. One caveat on sizing: SHIM is 4.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SCHW vs SHIM: side by side
| SCHW (Charles Schwab Corporation) | SHIM (Shimmick Corporation) | |
|---|---|---|
| 1-year return | +13.0% | +21.3% |
| 5-year return | +57.3% | n/a |
| Volatility (ann.) | 27.8% | 120.7% |
| Beta vs S&P 500 | 0.93 | 1.54 |
| Max drawdown (3Y) | -21.4% | -82.2% |
| Market cap | $186.9B | $0.2B |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 1.08% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | SCHW | SHIM |
|---|---|---|
| 2022 | +0.1% | – |
| 2023 | -16.0% | – |
| 2024 | +9.2% | -60.8% |
| 2025 | +36.6% | +12.7% |
| 2026 | +9.2% | +36.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCHW and SHIM good diversifiers for each other?
Yes. With a correlation of -0.20, SCHW and SHIM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SCHW and SHIM?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.07 over the last year and n/a over 5 years.
Is SHIM a good diversifier for SCHW?
Yes. With a correlation of -0.20, SCHW and SHIM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: SCHW correlations · SHIM correlations
