ANDE vs CVEO: Correlation
Measured on weekly returns over the past three years, The Andersons, Inc. (ANDE) and Civeo Corporation (Canada) (CVEO) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANDE and CVEO?
Across a 3-year window, the weekly returns of ANDE and CVEO correlate at 0.40, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.40 over 3. Stretching to 5 years gives 0.27, with an annualized covariance of 467.3 %².
By 3-year correlation, CVEO places #8 of the 14 assets tracked against ANDE. Correlation aside, the last 12 months split them widely, with ANDE ahead by 16.5 points (+58.9% versus +42.4%).
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.
ANDE vs CVEO: side by side
| ANDE (The Andersons, Inc.) | CVEO (Civeo Corporation (Canada)) | |
|---|---|---|
| 1-year return | +58.9% | +42.4% |
| 5-year return | +128.7% | +69.2% |
| Volatility (ann.) | 33.1% | 35.1% |
| Beta vs S&P 500 | 0.26 | 0.16 |
| Max drawdown (3Y) | -46.9% | -33.2% |
| Market cap | $2.2B | $0.3B |
| P/E (trailing) | 12.6 | – |
| Dividend yield | 1.21% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANDE | CVEO |
|---|---|---|
| 2022 | -7.8% | +62.2% |
| 2023 | +67.0% | -24.8% |
| 2024 | -28.8% | +3.6% |
| 2025 | +33.8% | +1.6% |
| 2026 | +21.0% | +47.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANDE and CVEO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ANDE and CVEO?
The ANDE/CVEO correlation stands at 0.40 on a 3-year window (1 year: 0.49, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is CVEO a good diversifier for ANDE?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ande-vs-cveo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ande-vs-cveo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ANDE correlations · CVEO correlations
