ARW vs CVEO: Correlation
Arrow Electronics, Inc. (ARW) and Civeo Corporation (Canada) (CVEO) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARW and CVEO?
Across a 3-year window, the weekly returns of ARW and CVEO correlate at 0.37, moderate. The past 12 months show a tighter link (0.50) than the 3-year average (0.37). Stretching to 5 years gives 0.33, with an annualized covariance of 398.3 %².
Out of 13 assets tracked against ARW, CVEO lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with ARW ahead by 21.1 points (+63.5% 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.
ARW vs CVEO: side by side
| ARW (Arrow Electronics, Inc.) | CVEO (Civeo Corporation (Canada)) | |
|---|---|---|
| 1-year return | +63.5% | +42.4% |
| 5-year return | +70.1% | +69.2% |
| Volatility (ann.) | 30.4% | 35.1% |
| Beta vs S&P 500 | 0.99 | 0.16 |
| Max drawdown (3Y) | -34.1% | -33.2% |
| Market cap | $10.6B | $0.3B |
| P/E (trailing) | 13.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARW | CVEO |
|---|---|---|
| 2022 | -22.1% | +62.2% |
| 2023 | +16.9% | -24.8% |
| 2024 | -7.5% | +3.6% |
| 2025 | -2.6% | +1.6% |
| 2026 | +89.7% | +47.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARW and CVEO good diversifiers for each other?
Reasonably. At 0.37, ARW and CVEO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ARW and CVEO?
As of 2026-08-27, the correlation of weekly returns between ARW and CVEO is 0.37 over 3 years, 0.50 over 1 year and 0.33 over 5 years.
Is CVEO a good diversifier for ARW?
Reasonably. At 0.37, ARW and CVEO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/arw-vs-cveo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arw-vs-cveo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARW correlations · CVEO correlations
