CBOE vs GEG: Correlation
Cboe Global Markets (CBOE) and Great Elm Group, Inc. (GEG) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBOE and GEG?
On 3 years of weekly data the CBOE/GEG correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. The 5-year figure is -0.13, and annualized covariance runs at -210.6 %².
Among the 39 assets we track against CBOE, GEG ranks #28 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CBOE ahead by 42.9 points (+32.5% versus -10.4%).
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.
CBOE vs GEG: side by side
| CBOE (Cboe Global Markets) | GEG (Great Elm Group, Inc.) | |
|---|---|---|
| 1-year return | +32.5% | -10.4% |
| 5-year return | +168.0% | -7.3% |
| Volatility (ann.) | 26.1% | 33.0% |
| Beta vs S&P 500 | 0.09 | 0.15 |
| Max drawdown (3Y) | -36.7% | -41.4% |
| Market cap | $32.8B | $0.1B |
| P/E (trailing) | 24.5 | – |
| Dividend yield | 0.92% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CBOE | GEG |
|---|---|---|
| 2022 | -2.2% | -3.3% |
| 2023 | +44.4% | -4.0% |
| 2024 | +10.7% | -6.7% |
| 2025 | +29.2% | +40.9% |
| 2026 | +25.7% | -15.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBOE and GEG good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CBOE and GEG?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.32 over the last year and -0.13 over 5 years.
Is GEG a good diversifier for CBOE?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 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-geg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cboe-vs-geg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CBOE correlations · GEG correlations
