BAND vs XRX: Correlation
How closely do Bandwidth Inc. (BAND) and Xerox Holdings Corporation (XRX) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAND and XRX?
On 3 years of weekly data the BAND/XRX correlation comes out at 0.55, moderate. The link has tightened recently: the 1-year correlation (0.70) runs above the 3-year figure (0.55). The 5-year figure is 0.48, and annualized covariance runs at 3943.0 %².
XRX is one of the assets that tracks BAND most closely: it ranks #1 out of the 15 assets we track against BAND. Correlation aside, the last 12 months split them widely, with BAND ahead by 269.2 points (+249.2% versus -20.0%).
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.
BAND vs XRX: side by side
| BAND (Bandwidth Inc.) | XRX (Xerox Holdings Corporation) | |
|---|---|---|
| 1-year return | +249.2% | -20.0% |
| 5-year return | -50.5% | -81.9% |
| Volatility (ann.) | 93.1% | 77.4% |
| Beta vs S&P 500 | 1.91 | 2.12 |
| Max drawdown (3Y) | -52.9% | -92.7% |
| Market cap | $1.7B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 3.36% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAND | XRX |
|---|---|---|
| 2022 | -68.0% | -31.3% |
| 2023 | -36.9% | +33.8% |
| 2024 | +17.6% | -49.8% |
| 2025 | -9.2% | -70.6% |
| 2026 | +235.6% | +28.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAND and XRX good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BAND and XRX?
The BAND/XRX correlation stands at 0.55 on a 3-year window (1 year: 0.70, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is XRX a good diversifier for BAND?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
A reading of 0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BAND correlations · XRX correlations
