CASY vs CECO: Correlation
How closely do Casey's (CASY) and CECO Environmental Corp. (CECO) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CASY and CECO?
Over the past 3 years, CASY and CECO moved with a correlation of 0.34, which is moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 530.3 %².
Within CASY's tracked universe of 30 assets, CECO comes in at #6 by 3-year correlation. Their 12-month results are close: +53.7% for CASY against +54.1% for CECO. Risk is not evenly split, since CECO carries 1.9 times the volatility of the other side.
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.
CASY vs CECO: side by side
| CASY (Casey's) | CECO (CECO Environmental Corp.) | |
|---|---|---|
| 1-year return | +53.7% | +54.1% |
| 5-year return | +284.3% | +853.0% |
| Volatility (ann.) | 28.9% | 54.0% |
| Beta vs S&P 500 | 0.39 | 0.97 |
| Max drawdown (3Y) | -16.6% | -47.9% |
| Market cap | $28.2B | $4.2B |
| P/E (trailing) | 42.2 | – |
| Dividend yield | 0.28% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | CASY | CECO |
|---|---|---|
| 2022 | +14.5% | +87.5% |
| 2023 | +23.3% | +73.6% |
| 2024 | +45.0% | +49.1% |
| 2025 | +40.1% | +98.0% |
| 2026 | +38.4% | +20.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CASY and CECO good diversifiers for each other?
Reasonably. At 0.34, CASY and CECO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CASY and CECO?
As of 2026-08-27, the correlation of weekly returns between CASY and CECO is 0.34 over 3 years, 0.37 over 1 year and 0.30 over 5 years.
Is CECO a good diversifier for CASY?
Reasonably. At 0.34, CASY and CECO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/casy-vs-ceco.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/casy-vs-ceco/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CASY correlations · CECO correlations
