CBOE vs CTSH: Correlation
How closely do Cboe Global Markets (CBOE) and Cognizant (CTSH) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBOE and CTSH?
Over the past 3 years, CBOE and CTSH moved with a correlation of 0.27, which is weak. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 225.1 %².
By 3-year correlation, CTSH places #11 of the 39 assets tracked against CBOE. Correlation aside, the last 12 months split them widely, with CBOE ahead by 42.3 points (+32.5% versus -9.8%). This link changes with the market regime, having swung between -0.04 and 0.51 on a rolling one-year basis.
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.
CBOE vs CTSH: side by side
| CBOE (Cboe Global Markets) | CTSH (Cognizant) | |
|---|---|---|
| 1-year return | +32.5% | -9.8% |
| 5-year return | +168.0% | -9.6% |
| Volatility (ann.) | 26.1% | 32.3% |
| Beta vs S&P 500 | 0.09 | 0.89 |
| Max drawdown (3Y) | -36.7% | -56.1% |
| Market cap | $32.8B | $28.7B |
| P/E (trailing) | 24.5 | 13.3 |
| Dividend yield | 0.92% | 2.09% |
| Sector / category | Financials | Information Technology |
Year-by-year returns
| Year | CBOE | CTSH |
|---|---|---|
| 2022 | -2.2% | -34.5% |
| 2023 | +44.4% | +34.4% |
| 2024 | +10.7% | +3.5% |
| 2025 | +29.2% | +9.7% |
| 2026 | +25.7% | -21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBOE and CTSH good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CBOE and CTSH?
As of 2026-08-27, the correlation of weekly returns between CBOE and CTSH is 0.27 over 3 years, 0.31 over 1 year and 0.25 over 5 years.
Is CTSH a good diversifier for CBOE?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cboe-vs-ctsh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cboe-vs-ctsh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CBOE correlations · CTSH correlations
