Catalog/Specialty Distribution

CDW Corporation vs Coupang Inc.

WatchlistCDW / CPNGPrices through Oct 22, 2026

Why these are rivals: #2 and #3 by market value ($26B vs $19B) in Nasdaq's "Catalog/Specialty Distribution" industry; SEC SIC 5961 / 5961 (same major group); #2 and #3 by market value ($26B vs $19B) with SEC SIC 5961 (Retail-Catalog & Mail-Order Houses).

Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.

Co-movement: daily return correlation, 252 sessions: 0.31 (needs >= 0.60)
Mean reversion: ADF t-statistic of the spread: -0.77 (needs <= -2.873 (5% critical value))
Speed: half-life of the spread, sessions: 80.29 (needs <= 63)

Business leadership

CPNG is the larger business

Annual revenue reported to the SEC. Scale, not market share.

Year	CDW	CPNG	Larger
2025	$22.4B	$34.5B	CPNG
2024	$21.0B	$30.3B	CPNG
2023	$21.4B	$24.4B	CPNG
2022	$23.7B	$20.6B	CDW
2021	$20.8B	$18.4B	CDW
2020	$18.5B	$12.0B	CDW

Revenue lead switched: 2023 to CPNG. Market value: CDW $19.1B, CPNG $25.8B.

Stock leadership

CDW is ahead now

Measured against the pair's own last 252 trading days.

CDW leads CPNG by 2.40 standard deviations: +67.3% over its usual price ratio. 1 lead switch in the last year.

Price change	3 mo	6 mo	12 mo
CDW	+23.0%	+20.6%	+5.2%
CPNG	-9.7%	-32.0%	-55.5%

Relationship

Not a measured twin today

Only these tests can make a pair tradable on paper.

Pass: Aligned sessions: 1411 (needs >= 254)
Fail: Co-movement: daily return correlation, 252 sessions: 0.31 (needs >= 0.60)
Fail: Mean reversion: ADF t-statistic of the spread: -0.77 (needs <= -2.873 (5% critical value))
Fail: Speed: half-life of the spread, sessions: 80.29 (needs <= 63)
Data: Both stocks current

The twins over two years

Prices side by side, and the gap between them

CDW CDW Corporation CPNG Coupang Inc.Price index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).

Spread z-score: CDW relative to CPNG, against the 252 sessions before each day. Above 0: CDW ahead; below 0: CPNG ahead. Lines at +/-2 (idea) and +/-4 (stop).

Data table (504 sessions)

Date	CDW index	CPNG index	z	Ahead
2026-10-22	75.41	55.67	+2.40	CDW ahead
2026-10-21	72.50	55.19	+2.28	CDW ahead
2026-10-20	71.00	56.98	+2.06	CDW ahead
2026-10-19	69.92	57.06	+2.00	CDW ahead
2026-10-16	68.93	56.78	+1.97	CDW ahead
2026-10-15	70.69	58.85	+1.94	CDW ahead
2026-10-14	68.76	57.30	+1.95	CDW ahead
2026-10-13	69.61	60.17	+1.79	CDW ahead
2026-10-12	65.85	60.80	+1.49	CDW ahead
2026-10-09	65.12	62.95	+1.28	CDW ahead
2026-10-08	64.07	61.32	+1.34	CDW ahead
2026-10-07	62.67	58.93	+1.43	CDW ahead
2026-10-06	62.15	57.38	+1.53	CDW ahead
2026-10-05	61.34	56.51	+1.55	CDW ahead
2026-10-02	61.06	54.83	+1.68	CDW ahead
2026-10-01	62.22	54.91	+1.78	CDW ahead
2026-09-30	58.71	55.19	+1.50	CDW ahead
2026-09-29	59.42	55.11	+1.57	CDW ahead
2026-09-28	59.70	54.72	+1.64	CDW ahead
2026-09-25	62.04	55.23	+1.80	CDW ahead
2026-09-24	63.88	55.23	+1.96	CDW ahead
2026-09-23	66.95	56.82	+2.07	CDW ahead
2026-09-22	67.53	58.14	+2.02	CDW ahead
2026-09-21	67.07	58.18	+2.01	CDW ahead
2026-09-18	66.96	56.86	+2.14	CDW ahead
2026-09-17	68.34	57.54	+2.20	CDW ahead
2026-09-16	68.69	57.30	+2.28	CDW ahead
2026-09-15	70.42	58.42	+2.34	CDW ahead
2026-09-14	69.49	60.13	+2.16	CDW ahead
2026-09-11	70.45	60.17	+2.25	CDW ahead
2026-09-10	65.32	58.38	+2.05	CDW ahead
2026-09-09	65.21	58.73	+2.03	CDW ahead
2026-09-08	66.18	58.93	+2.12	CDW ahead
2026-09-04	69.80	60.84	+2.26	CDW ahead
2026-09-03	70.51	61.72	+2.27	CDW ahead
2026-09-02	68.10	63.55	+1.96	CDW ahead
2026-09-01	68.85	62.87	+2.10	CDW ahead
2026-08-31	69.43	63.91	+2.09	CDW ahead
2026-08-28	67.65	65.74	+1.82	CDW ahead
2026-08-27	68.24	64.58	+1.99	CDW ahead
2026-08-26	64.80	65.78	+1.62	CDW ahead
2026-08-25	65.09	66.41	+1.61	CDW ahead
2026-08-24	60.70	65.42	+1.32	CDW ahead
2026-08-21	62.87	65.46	+1.53	CDW ahead
2026-08-20	61.17	64.70	+1.45	CDW ahead
2026-08-19	62.85	66.30	+1.48	CDW ahead
2026-08-18	61.82	62.00	+1.78	CDW ahead
2026-08-17	61.98	62.55	+1.76	CDW ahead
2026-08-14	63.86	64.15	+1.81	CDW ahead
2026-08-13	65.07	64.82	+1.88	CDW ahead
2026-08-12	62.60	64.94	+1.67	CDW ahead
2026-08-11	62.01	65.66	+1.56	CDW ahead
2026-08-10	62.49	64.42	+1.74	CDW ahead
2026-08-07	62.21	64.58	+1.71	CDW ahead
2026-08-06	65.03	65.06	+1.95	CDW ahead
2026-08-05	64.17	63.67	+2.02	CDW ahead
2026-08-04	70.54	66.77	+2.33	CDW ahead
2026-08-03	67.66	65.34	+2.25	CDW ahead
2026-07-31	67.71	65.06	+2.31	CDW ahead
2026-07-30	66.68	64.03	+2.35	CDW ahead
2026-07-29	67.76	60.33	+2.87	CDW ahead
2026-07-28	65.97	61.44	+2.64	CDW ahead
2026-07-27	63.23	63.39	+2.20	CDW ahead
2026-07-24	61.30	61.68	+2.21	CDW ahead
2026-07-23	59.63	62.20	+2.00	CDW ahead
2026-07-22	59.47	62.20	+2.01	CDW ahead
2026-07-21	59.42	62.71	+1.97	CDW ahead
2026-07-20	59.55	65.42	+1.73	CDW ahead
2026-07-17	61.03	66.14	+1.84	CDW ahead
2026-07-16	61.54	67.09	+1.82	CDW ahead
2026-07-15	59.94	69.32	+1.44	CDW ahead
2026-07-14	63.84	70.59	+1.76	CDW ahead
2026-07-13	66.12	71.31	+1.95	CDW ahead
2026-07-10	66.14	74.81	+1.64	CDW ahead
2026-07-09	64.23	76.24	+1.32	CDW ahead
2026-07-08	63.08	75.61	+1.26	CDW ahead
2026-07-07	63.78	73.74	+1.52	CDW ahead
2026-07-06	61.47	76.20	+1.05	CDW ahead
2026-07-02	61.09	73.86	+1.23	CDW ahead
2026-07-01	63.40	72.14	+1.67	CDW ahead
2026-06-30	64.42	69.12	+2.10	CDW ahead
2026-06-29	64.05	69.96	+2.00	CDW ahead
2026-06-26	61.06	69.96	+1.68	CDW ahead
2026-06-25	58.64	67.89	+1.62	CDW ahead
2026-06-24	59.65	70.67	+1.46	CDW ahead
2026-06-23	59.58	69.68	+1.57	CDW ahead
2026-06-22	56.60	68.88	+1.29	CDW ahead
2026-06-18	58.80	71.63	+1.29	CDW ahead
2026-06-17	58.04	74.93	+0.87	CDW ahead
2026-06-16	59.59	71.75	+1.39	CDW ahead
2026-06-15	60.14	68.17	+1.85	CDW ahead
2026-06-12	60.55	66.93	+2.06	CDW ahead
2026-06-11	59.15	68.64	+1.72	CDW ahead
2026-06-10	59.23	60.17	+2.76	CDW ahead
2026-06-09	61.07	63.31	+2.65	CDW ahead
2026-06-08	61.75	60.41	+3.17	CDW ahead
2026-06-05	60.94	60.29	+3.15	CDW ahead
2026-06-04	63.88	65.78	+2.88	CDW ahead
2026-06-03	62.89	65.34	+2.87	CDW ahead
2026-06-02	64.00	66.57	+2.91	CDW ahead
2026-06-01	64.58	66.14	+3.10	CDW ahead
2026-05-29	57.46	66.06	+2.14	CDW ahead
2026-05-28	53.21	64.46	+1.70	CDW ahead
2026-05-27	52.31	65.50	+1.42	CDW ahead
2026-05-26	49.74	61.56	+1.52	CDW ahead
2026-05-22	50.76	64.15	+1.35	CDW ahead
2026-05-21	48.96	62.59	+1.24	CDW ahead
2026-05-20	48.65	62.16	+1.25	CDW ahead
2026-05-19	47.80	60.72	+1.29	CDW ahead
2026-05-18	47.66	62.48	+1.02	CDW ahead
2026-05-15	46.75	64.15	+0.62	CDW ahead
2026-05-14	46.80	66.02	+0.37	near the usual relationship
2026-05-13	45.99	63.51	+0.55	CDW ahead
2026-05-12	45.49	63.27	+0.48	near the usual relationship
2026-05-11	46.97	64.19	+0.63	CDW ahead
2026-05-08	48.00	67.57	+0.37	near the usual relationship
2026-05-07	50.48	68.52	+0.68	CDW ahead
2026-05-06	49.93	71.19	+0.26	near the usual relationship
2026-05-05	62.66	82.61	+0.91	CDW ahead
2026-05-04	61.98	80.62	+1.02	CDW ahead
2026-05-01	62.31	81.93	+0.93	CDW ahead
2026-04-30	62.71	79.51	+1.23	CDW ahead
2026-04-29	62.10	80.82	+1.01	CDW ahead
2026-04-28	60.89	80.94	+0.83	CDW ahead
2026-04-27	60.97	81.54	+0.78	CDW ahead
2026-04-24	61.99	81.62	+0.91	CDW ahead
2026-04-23	62.51	81.89	+0.95	CDW ahead
2026-04-22	65.25	81.97	+1.29	CDW ahead
2026-04-21	64.77	81.22	+1.31	CDW ahead
2026-04-20	62.69	85.59	+0.60	CDW ahead
2026-04-17	61.36	85.75	+0.40	near the usual relationship
2026-04-16	61.06	85.52	+0.38	near the usual relationship
2026-04-15	59.35	84.72	+0.21	near the usual relationship
2026-04-14	59.57	82.45	+0.46	near the usual relationship
2026-04-13	60.41	80.18	+0.80	CDW ahead
2026-04-10	57.50	78.63	+0.55	CDW ahead
2026-04-09	58.06	78.23	+0.66	CDW ahead
2026-04-08	58.05	78.31	+0.64	CDW ahead
2026-04-07	56.66	76.36	+0.64	CDW ahead
2026-04-06	56.56	77.64	+0.49	near the usual relationship
2026-04-02	55.89	75.41	+0.62	CDW ahead
2026-04-01	55.61	75.29	+0.59	CDW ahead
2026-03-31	55.43	75.13	+0.57	CDW ahead
2026-03-30	54.29	72.66	+0.67	CDW ahead
2026-03-27	54.13	71.99	+0.71	CDW ahead
2026-03-26	55.51	73.10	+0.78	CDW ahead
2026-03-25	55.56	74.81	+0.61	CDW ahead
2026-03-24	55.84	73.70	+0.76	CDW ahead
2026-03-23	55.04	76.84	+0.32	near the usual relationship
2026-03-20	55.09	74.93	+0.51	CDW ahead
2026-03-19	54.81	76.72	+0.28	near the usual relationship
2026-03-18	53.86	79.94	-0.17	near the usual relationship
2026-03-17	53.80	82.77	-0.45	near the usual relationship
2026-03-16	54.14	81.38	-0.27	near the usual relationship
2026-03-13	53.21	73.42	+0.36	near the usual relationship
2026-03-12	51.98	73.78	+0.14	near the usual relationship
2026-03-11	54.47	74.69	+0.39	near the usual relationship
2026-03-10	54.35	76.32	+0.21	near the usual relationship
2026-03-09	55.31	74.85	+0.47	near the usual relationship
2026-03-06	56.53	75.89	+0.53	CDW ahead
2026-03-05	56.94	77.08	+0.46	near the usual relationship
2026-03-04	57.20	76.00	+0.59	CDW ahead
2026-03-03	57.39	76.44	+0.57	CDW ahead
2026-03-02	57.15	78.91	+0.30	near the usual relationship
2026-02-27	56.18	75.93	+0.45	near the usual relationship
2026-02-26	56.52	74.45	+0.63	CDW ahead
2026-02-25	55.69	73.06	+0.65	CDW ahead
2026-02-24	57.50	73.98	+0.78	CDW ahead
2026-02-23	56.40	73.94	+0.64	CDW ahead
2026-02-20	57.09	74.61	+0.66	CDW ahead
2026-02-19	56.88	73.42	+0.74	CDW ahead
2026-02-18	56.93	71.83	+0.89	CDW ahead
2026-02-17	57.32	69.36	+1.18	CDW ahead
2026-02-13	58.11	67.57	+1.45	CDW ahead
2026-02-12	58.10	68.17	+1.38	CDW ahead
2026-02-11	61.82	70.27	+1.60	CDW ahead
2026-02-10	65.43	72.62	+1.76	CDW ahead
2026-02-09	65.70	73.78	+1.67	CDW ahead
2026-02-06	65.33	70.51	+1.93	CDW ahead
2026-02-05	64.48	66.81	+2.21	CDW ahead
2026-02-04	63.25	77.40	+1.06	CDW ahead
2026-02-03	57.79	77.00	+0.47	near the usual relationship
2026-02-02	58.10	79.75	+0.26	near the usual relationship
2026-01-30	57.89	80.22	+0.19	near the usual relationship
2026-01-29	57.35	79.55	+0.17	near the usual relationship
2026-01-28	57.13	80.90	+0.03	near the usual relationship
2026-01-27	57.44	79.94	+0.13	near the usual relationship
2026-01-26	58.36	77.88	+0.39	near the usual relationship
2026-01-23	57.72	79.55	+0.17	near the usual relationship
2026-01-22	59.23	79.39	+0.34	near the usual relationship
2026-01-21	58.46	80.54	+0.16	near the usual relationship
2026-01-20	57.15	81.50	-0.06	near the usual relationship
2026-01-16	60.35	84.08	+0.07	near the usual relationship
2026-01-15	60.60	84.56	+0.06	near the usual relationship
2026-01-14	60.54	82.73	+0.18	near the usual relationship
2026-01-13	61.66	87.43	-0.05	near the usual relationship
2026-01-12	61.15	88.22	-0.16	near the usual relationship
2026-01-09	61.15	90.49	-0.32	near the usual relationship
2026-01-08	60.71	89.34	-0.29	near the usual relationship
2026-01-07	59.34	92.60	-0.64	CPNG ahead
2026-01-06	61.54	93.63	-0.50	CPNG ahead
2026-01-05	61.20	91.09	-0.38	near the usual relationship
2026-01-02	61.00	93.00	-0.52	CPNG ahead
2025-12-31	62.39	93.87	-0.45	near the usual relationship
2025-12-30	63.39	96.02	-0.49	near the usual relationship
2025-12-29	63.49	97.33	-0.57	CPNG ahead
2025-12-26	64.00	96.58	-0.48	near the usual relationship
2025-12-24	63.54	90.73	-0.17	near the usual relationship
2025-12-23	63.28	89.26	-0.11	near the usual relationship
2025-12-22	63.90	89.22	-0.05	near the usual relationship
2025-12-19	64.43	92.32	-0.21	near the usual relationship
2025-12-18	65.54	90.29	+0.01	near the usual relationship
2025-12-17	65.82	90.41	+0.03	near the usual relationship
2025-12-16	66.43	92.28	-0.04	near the usual relationship
2025-12-15	66.36	96.82	-0.32	near the usual relationship
2025-12-12	66.39	101.99	-0.62	CPNG ahead
2025-12-11	68.65	102.90	-0.49	near the usual relationship
2025-12-10	68.50	103.70	-0.55	CPNG ahead
2025-12-09	67.39	107.16	-0.83	CPNG ahead
2025-12-08	66.85	108.75	-0.96	CPNG ahead
2025-12-05	66.99	107.88	-0.91	CPNG ahead
2025-12-04	66.21	107.52	-0.97	CPNG ahead
2025-12-03	65.81	105.69	-0.91	CPNG ahead
2025-12-02	66.03	106.29	-0.93	CPNG ahead
2025-12-01	65.52	106.05	-0.97	CPNG ahead
2025-11-28	66.06	112.06	-1.25	CPNG ahead
2025-11-26	66.14	110.98	-1.19	CPNG ahead
2025-11-25	65.61	110.47	-1.22	CPNG ahead
2025-11-24	65.01	109.47	-1.23	CPNG ahead
2025-11-21	64.22	106.09	-1.13	CPNG ahead
2025-11-20	62.59	105.69	-1.27	CPNG ahead
2025-11-19	64.00	109.03	-1.33	CPNG ahead
2025-11-18	64.04	109.99	-1.39	CPNG ahead
2025-11-17	64.24	110.66	-1.42	CPNG ahead
2025-11-14	66.46	112.30	-1.32	CPNG ahead
2025-11-13	67.22	113.53	-1.33	CPNG ahead
2025-11-12	67.51	114.72	-1.37	CPNG ahead
2025-11-11	65.35	114.01	-1.54	CPNG ahead
2025-11-10	65.65	115.08	-1.58	CPNG ahead
2025-11-07	65.25	114.92	-1.62	CPNG ahead
2025-11-06	64.84	115.40	-1.70	CPNG ahead
2025-11-05	67.02	120.25	-1.77	CPNG ahead
2025-11-04	64.89	127.86	-2.35	CPNG ahead
2025-11-03	70.92	127.26	-1.82	CPNG ahead
2025-10-31	73.00	127.22	-1.66	CPNG ahead
2025-10-30	71.82	127.14	-1.76	CPNG ahead
2025-10-29	72.06	127.62	-1.78	CPNG ahead
2025-10-28	71.53	127.02	-1.82	CPNG ahead
2025-10-27	72.94	126.30	-1.68	CPNG ahead
2025-10-24	72.45	123.96	-1.62	CPNG ahead
2025-10-23	72.59	124.00	-1.62	CPNG ahead
2025-10-22	71.62	123.88	-1.71	CPNG ahead
2025-10-21	71.70	125.07	-1.78	CPNG ahead
2025-10-20	71.17	126.10	-1.89	CPNG ahead
2025-10-17	69.83	124.19	-1.93	CPNG ahead
2025-10-16	69.21	125.35	-2.06	CPNG ahead
2025-10-15	68.17	125.55	-2.19	CPNG ahead
2025-10-14	68.86	126.38	-2.20	CPNG ahead
2025-10-13	67.57	126.46	-2.34	CPNG ahead
2025-10-10	66.44	124.27	-2.37	CPNG ahead
2025-10-09	69.53	129.21	-2.36	CPNG ahead
2025-10-08	71.88	127.93	-2.11	CPNG ahead
2025-10-07	71.11	128.81	-2.25	CPNG ahead
2025-10-06	72.08	129.05	-2.20	CPNG ahead
2025-10-03	72.96	128.77	-2.13	CPNG ahead
2025-10-02	73.02	129.57	-2.19	CPNG ahead
2025-10-01	72.83	129.05	-2.20	CPNG ahead
2025-09-30	72.96	128.13	-2.17	CPNG ahead
2025-09-29	74.32	130.64	-2.20	CPNG ahead
2025-09-26	75.29	128.09	-2.01	CPNG ahead
2025-09-25	71.90	126.74	-2.26	CPNG ahead
2025-09-24	73.51	127.50	-2.18	CPNG ahead
2025-09-23	75.39	128.29	-2.08	CPNG ahead
2025-09-22	75.20	128.61	-2.13	CPNG ahead
2025-09-19	73.85	130.76	-2.38	CPNG ahead
2025-09-18	74.60	132.99	-2.46	CPNG ahead
2025-09-17	76.63	133.43	-2.33	CPNG ahead
2025-09-16	76.11	132.55	-2.36	CPNG ahead
2025-09-15	74.72	133.31	-2.56	CPNG ahead
2025-09-12	75.26	128.97	-2.31	CPNG ahead
2025-09-11	75.91	129.13	-2.29	CPNG ahead
2025-09-10	78.22	127.82	-2.03	CPNG ahead
2025-09-09	77.39	128.65	-2.17	CPNG ahead
2025-09-08	76.89	125.35	-2.06	CPNG ahead
2025-09-05	77.75	115.04	-1.41	CPNG ahead
2025-09-04	76.15	114.33	-1.52	CPNG ahead
2025-09-03	74.83	112.73	-1.55	CPNG ahead
2025-09-02	74.33	113.05	-1.62	CPNG ahead
2025-08-29	75.47	113.73	-1.56	CPNG ahead
2025-08-28	75.98	113.93	-1.54	CPNG ahead
2025-08-27	75.69	112.38	-1.48	CPNG ahead
2025-08-26	74.97	113.09	-1.60	CPNG ahead
2025-08-25	76.25	113.57	-1.52	CPNG ahead
2025-08-22	76.50	114.41	-1.56	CPNG ahead
2025-08-21	75.20	112.30	-1.56	CPNG ahead
2025-08-20	76.46	114.76	-1.61	CPNG ahead
2025-08-19	76.76	114.80	-1.59	CPNG ahead
2025-08-18	75.97	115.32	-1.70	CPNG ahead
2025-08-15	75.01	111.98	-1.61	CPNG ahead
2025-08-14	76.08	112.73	-1.57	CPNG ahead
2025-08-13	76.72	113.29	-1.56	CPNG ahead
2025-08-12	75.15	111.98	-1.63	CPNG ahead
2025-08-11	73.36	110.11	-1.69	CPNG ahead
2025-08-08	74.63	110.74	-1.63	CPNG ahead
2025-08-07	74.15	110.66	-1.68	CPNG ahead
2025-08-06	75.81	111.78	-1.61	CPNG ahead
2025-08-05	75.69	118.98	-2.04	CPNG ahead
2025-08-04	78.85	117.91	-1.73	CPNG ahead
2025-08-01	77.35	114.37	-1.66	CPNG ahead
2025-07-31	79.88	117.11	-1.61	CPNG ahead
2025-07-30	82.42	117.19	-1.42	CPNG ahead
2025-07-29	83.45	118.70	-1.42	CPNG ahead
2025-07-28	83.27	119.62	-1.49	CPNG ahead
2025-07-25	82.97	120.37	-1.56	CPNG ahead
2025-07-24	82.83	119.94	-1.55	CPNG ahead
2025-07-23	83.08	121.53	-1.62	CPNG ahead
2025-07-22	82.48	122.48	-1.72	CPNG ahead
2025-07-21	81.02	124.91	-1.96	CPNG ahead
2025-07-18	82.26	125.31	-1.89	CPNG ahead
2025-07-17	82.45	123.96	-1.83	CPNG ahead
2025-07-16	80.50	124.23	-2.00	CPNG ahead
2025-07-15	80.51	123.88	-2.00	CPNG ahead
2025-07-14	81.40	121.81	-1.85	CPNG ahead
2025-07-11	81.25	119.70	-1.78	CPNG ahead
2025-07-10	82.31	121.17	-1.79	CPNG ahead
2025-07-09	82.80	120.06	-1.71	CPNG ahead
2025-07-08	82.75	119.34	-1.69	CPNG ahead
2025-07-07	81.24	119.38	-1.82	CPNG ahead
2025-07-03	83.43	120.53	-1.73	CPNG ahead
2025-07-02	83.75	119.50	-1.67	CPNG ahead
2025-07-01	82.98	119.10	-1.72	CPNG ahead
2025-06-30	81.81	119.22	-1.83	CPNG ahead
2025-06-27	81.27	122.60	-2.06	CPNG ahead
2025-06-26	81.21	118.62	-1.88	CPNG ahead
2025-06-25	81.46	114.76	-1.67	CPNG ahead
2025-06-24	82.38	115.20	-1.64	CPNG ahead
2025-06-23	79.60	112.93	-1.73	CPNG ahead
2025-06-20	78.15	113.61	-1.90	CPNG ahead
2025-06-18	77.87	113.01	-1.91	CPNG ahead
2025-06-17	78.24	112.42	-1.86	CPNG ahead
2025-06-16	78.95	112.77	-1.85	CPNG ahead
2025-06-13	78.06	111.82	-1.88	CPNG ahead
2025-06-12	80.05	112.65	-1.79	CPNG ahead
2025-06-11	80.50	112.53	-1.77	CPNG ahead
2025-06-10	81.87	112.46	-1.68	CPNG ahead
2025-06-09	81.27	113.29	-1.78	CPNG ahead
2025-06-06	81.65	113.21	-1.77	CPNG ahead
2025-06-05	80.54	113.57	-1.89	CPNG ahead
2025-06-04	80.99	112.81	-1.84	CPNG ahead
2025-06-03	82.15	112.30	-1.74	CPNG ahead
2025-06-02	80.05	112.77	-1.95	CPNG ahead
2025-05-30	82.62	111.62	-1.70	CPNG ahead
2025-05-29	83.53	110.98	-1.61	CPNG ahead
2025-05-28	83.98	112.61	-1.68	CPNG ahead
2025-05-27	85.07	113.21	-1.65	CPNG ahead
2025-05-23	83.44	109.23	-1.56	CPNG ahead
2025-05-22	84.00	108.56	-1.49	CPNG ahead
2025-05-21	83.29	108.95	-1.58	CPNG ahead
2025-05-20	86.16	107.92	-1.31	CPNG ahead
2025-05-19	86.13	108.08	-1.33	CPNG ahead
2025-05-16	86.59	108.40	-1.33	CPNG ahead
2025-05-15	86.31	106.80	-1.26	CPNG ahead
2025-05-14	86.74	107.08	-1.26	CPNG ahead
2025-05-13	87.34	105.69	-1.14	CPNG ahead
2025-05-12	86.49	104.02	-1.11	CPNG ahead
2025-05-09	81.97	103.46	-1.43	CPNG ahead
2025-05-08	82.49	101.99	-1.31	CPNG ahead
2025-05-07	80.40	105.85	-1.74	CPNG ahead
2025-05-06	75.09	95.50	-1.53	CPNG ahead
2025-05-05	75.92	95.46	-1.46	CPNG ahead
2025-05-02	76.42	95.90	-1.46	CPNG ahead
2025-05-01	74.39	93.39	-1.48	CPNG ahead
2025-04-30	73.55	93.00	-1.54	CPNG ahead
2025-04-29	73.27	93.71	-1.63	CPNG ahead
2025-04-28	72.64	93.20	-1.66	CPNG ahead
2025-04-25	72.35	93.27	-1.71	CPNG ahead
2025-04-24	72.80	92.48	-1.63	CPNG ahead
2025-04-23	70.94	89.81	-1.62	CPNG ahead
2025-04-22	69.64	86.27	-1.49	CPNG ahead
2025-04-21	67.99	84.08	-1.49	CPNG ahead
2025-04-17	69.38	85.12	-1.45	CPNG ahead
2025-04-16	68.15	84.48	-1.53	CPNG ahead
2025-04-15	69.09	85.48	-1.53	CPNG ahead
2025-04-14	69.51	85.67	-1.50	CPNG ahead
2025-04-11	68.16	86.15	-1.68	CPNG ahead
2025-04-10	67.20	83.57	-1.57	CPNG ahead
2025-04-09	73.05	86.91	-1.28	CPNG ahead
2025-04-08	66.89	78.87	-1.22	CPNG ahead
2025-04-07	67.43	78.63	-1.15	CPNG ahead
2025-04-04	66.19	79.82	-1.37	CPNG ahead
2025-04-03	69.43	85.40	-1.49	CPNG ahead
2025-04-02	75.34	89.49	-1.28	CPNG ahead
2025-04-01	74.24	88.26	-1.28	CPNG ahead
2025-03-31	73.41	87.27	-1.28	CPNG ahead
2025-03-28	73.98	88.98	-1.35	CPNG ahead
2025-03-27	75.05	93.59	-1.57	CPNG ahead
2025-03-26	76.65	93.83	-1.46	CPNG ahead
2025-03-25	77.19	93.12	-1.38	CPNG ahead
2025-03-24	78.01	93.87	-1.37	CPNG ahead
2025-03-21	75.84	92.88	-1.48	CPNG ahead
2025-03-20	77.00	92.76	-1.39	CPNG ahead
2025-03-19	79.17	93.67	-1.30	CPNG ahead
2025-03-18	78.22	90.97	-1.21	CPNG ahead
2025-03-17	78.16	93.59	-1.38	CPNG ahead
2025-03-14	76.50	89.57	-1.26	CPNG ahead
2025-03-13	74.89	88.26	-1.31	CPNG ahead
2025-03-12	76.34	88.62	-1.23	CPNG ahead
2025-03-11	76.06	87.47	-1.18	CPNG ahead
2025-03-10	77.65	87.19	-1.06	CPNG ahead
2025-03-07	77.12	90.53	-1.31	CPNG ahead
2025-03-06	76.62	92.20	-1.45	CPNG ahead
2025-03-05	79.06	95.42	-1.48	CPNG ahead
2025-03-04	78.48	92.96	-1.39	CPNG ahead
2025-03-03	79.02	94.75	-1.46	CPNG ahead
2025-02-28	81.63	94.31	-1.27	CPNG ahead
2025-02-27	81.99	94.27	-1.25	CPNG ahead
2025-02-26	82.56	99.52	-1.50	CPNG ahead
2025-02-25	83.63	96.18	-1.26	CPNG ahead
2025-02-24	85.52	98.01	-1.25	CPNG ahead
2025-02-21	85.43	98.77	-1.30	CPNG ahead
2025-02-20	88.31	100.00	-1.19	CPNG ahead
2025-02-19	89.09	101.55	-1.23	CPNG ahead
2025-02-18	88.16	101.51	-1.29	CPNG ahead
2025-02-14	86.75	100.84	-1.34	CPNG ahead
2025-02-13	85.93	99.48	-1.32	CPNG ahead
2025-02-12	86.55	94.03	-1.01	CPNG ahead
2025-02-11	87.83	94.83	-0.98	CPNG ahead
2025-02-10	87.75	94.55	-0.98	CPNG ahead
2025-02-07	87.96	94.11	-0.95	CPNG ahead
2025-02-06	91.55	94.95	-0.81	CPNG ahead
2025-02-05	94.42	95.54	-0.70	CPNG ahead
2025-02-04	91.31	94.35	-0.80	CPNG ahead
2025-02-03	90.90	93.83	-0.80	CPNG ahead
2025-01-31	91.22	93.55	-0.78	CPNG ahead
2025-01-30	90.59	93.91	-0.83	CPNG ahead
2025-01-29	89.57	91.52	-0.77	CPNG ahead
2025-01-28	89.21	92.12	-0.82	CPNG ahead
2025-01-27	88.88	90.33	-0.76	CPNG ahead
2025-01-24	89.38	89.77	-0.71	CPNG ahead
2025-01-23	90.46	87.54	-0.56	CPNG ahead
2025-01-22	89.00	88.54	-0.68	CPNG ahead
2025-01-21	87.76	88.30	-0.74	CPNG ahead
2025-01-17	86.45	87.78	-0.79	CPNG ahead
2025-01-16	86.02	88.82	-0.86	CPNG ahead
2025-01-15	85.87	88.90	-0.88	CPNG ahead
2025-01-14	85.46	87.43	-0.84	CPNG ahead
2025-01-13	82.87	86.75	-0.94	CPNG ahead
2025-01-10	83.89	84.92	-0.81	CPNG ahead
2025-01-08	83.07	88.66	-1.04	CPNG ahead
2025-01-07	82.90	90.53	-1.15	CPNG ahead
2025-01-06	82.13	88.46	-1.10	CPNG ahead
2025-01-03	79.81	89.22	-1.26	CPNG ahead
2025-01-02	77.88	88.70	-1.35	CPNG ahead
2024-12-31	79.72	87.47	-1.21	CPNG ahead
2024-12-30	79.41	88.42	-1.28	CPNG ahead
2024-12-27	80.53	89.61	-1.29	CPNG ahead
2024-12-26	81.13	90.81	-1.32	CPNG ahead
2024-12-24	80.78	90.97	-1.36	CPNG ahead
2024-12-23	80.42	90.73	-1.38	CPNG ahead
2024-12-20	79.95	91.29	-1.44	CPNG ahead
2024-12-19	79.37	90.45	-1.45	CPNG ahead
2024-12-18	78.55	89.77	-1.47	CPNG ahead
2024-12-17	80.92	93.59	-1.54	CPNG ahead
2024-12-16	81.44	93.91	-1.54	CPNG ahead
2024-12-13	80.65	95.07	-1.65	CPNG ahead
2024-12-12	81.56	96.78	-1.69	CPNG ahead
2024-12-11	81.65	95.07	-1.63	CPNG ahead
2024-12-10	82.00	94.39	-1.59	CPNG ahead
2024-12-09	83.58	93.24	-1.47	CPNG ahead
2024-12-06	82.48	95.11	-1.63	CPNG ahead
2024-12-05	81.67	95.62	-1.71	CPNG ahead
2024-12-04	81.66	94.99	-1.70	CPNG ahead
2024-12-03	82.28	95.19	-1.69	CPNG ahead
2024-12-02	82.74	98.89	-1.86	CPNG ahead
2024-11-29	80.59	100.92	-2.10	CPNG ahead
2024-11-27	80.96	101.35	-2.12	CPNG ahead
2024-11-26	81.44	100.32	-2.07	CPNG ahead
2024-11-25	83.07	99.48	-1.97	CPNG ahead
2024-11-22	81.98	96.78	-1.93	CPNG ahead
2024-11-21	81.61	95.50	-1.91	CPNG ahead
2024-11-20	80.61	95.38	-1.98	CPNG ahead
2024-11-19	79.73	96.26	-2.10	CPNG ahead
2024-11-18	81.57	96.94	-2.05	CPNG ahead
2024-11-15	81.37	97.41	-2.12	CPNG ahead
2024-11-14	82.80	100.80	-2.22	CPNG ahead
2024-11-13	85.20	103.06	-2.22	CPNG ahead
2024-11-12	87.91	97.53	-1.82	CPNG ahead
2024-11-11	90.61	95.90	-1.61	CPNG ahead
2024-11-08	91.55	96.18	-1.59	CPNG ahead
2024-11-07	92.94	99.92	-1.72	CPNG ahead
2024-11-06	92.89	95.50	-1.51	CPNG ahead
2024-11-05	88.40	107.00	-2.36	CPNG ahead
2024-11-04	87.54	102.27	-2.21	CPNG ahead
2024-11-01	86.29	101.07	-2.26	CPNG ahead
2024-10-31	86.22	102.63	-2.37	CPNG ahead
2024-10-30	89.35	104.42	-2.31	CPNG ahead
2024-10-29	100.73	103.46	-1.66	CPNG ahead
2024-10-28	100.09	103.26	-1.69	CPNG ahead
2024-10-25	99.40	102.15	-1.69	CPNG ahead
2024-10-24	100.39	101.91	-1.64	CPNG ahead
2024-10-23	99.70	101.03	-1.64	CPNG ahead
2024-10-22	99.44	99.40	-1.58	CPNG ahead
2024-10-21	100.93	99.68	-1.53	CPNG ahead
2024-10-18	100.00	100.00	-1.61	CPNG ahead

One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Oct 30, 2024 (CDW -11.3%, CPNG +0.9%); Nov 6, 2024 (CDW +5.1%, CPNG -10.8%); Feb 5, 2026 (CDW +1.9%, CPNG -13.7%); Jun 11, 2026 (CDW -0.1%, CPNG +14.1%). Upcoming earnings: CDW Nov 3, 2026 (not-supplied); CPNG Nov 3, 2026 (after-hours); CDW Nov 4, 2026 (pre-market).

Paired trades

The shared paper book and the replay, kept apart

Forward paper record

No paper position on this pair yet.

Historical simulation (a diagnostic, same rules)

No simulated trade through Oct 20, 2026: the pair rarely passed every test while 2 standard deviations apart.

Per $10,000 a leg. A replay on today's companies cannot prove an edge.

The companies

CDW and CPNG at a glance

CDW CDW Corporation

Listing: Nasdaq · SEC CIK 1402057
Industry: Catalog/Specialty Distribution · SIC 5961 Retail-Catalog & Mail-Order Houses
Market value: $19.1B
Price history: 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026

CPNG Coupang Inc.

Listing: NYSE · SEC CIK 1834584
Industry: Catalog/Specialty Distribution · SIC 5961 Retail-Catalog & Mail-Order Houses
Market value: $25.8B
Price history: 1,411 daily closes, Mar 11, 2021 to Oct 22, 2026

Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.

All pairs →

Pair	Status	Ahead now	Industry
AMZN / CPNG	Watchlist	AMZN by 1.36 sd	Catalog/Specialty Distribution
AMZN / CDW	Watchlist	CDW by 1.35 sd	Catalog/Specialty Distribution

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Paper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.