CBOE vs HUBB: Correlation
Cboe Global Markets (CBOE) and Hubbell Incorporated (HUBB) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBOE and HUBB?
On 3 years of weekly data the CBOE/HUBB correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.22). The 5-year figure is -0.05, and annualized covariance runs at -162.7 %².
Among the 39 assets we track against CBOE, HUBB ranks #26 by 3-year correlation. The last year tells two different stories: CBOE led by 25.8 percentage points, +32.5% for CBOE against +6.7% for HUBB. On a rolling one-year basis the correlation drifted between -0.33 and 0.15, a moderate band.
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 HUBB: side by side
| CBOE (Cboe Global Markets) | HUBB (Hubbell Incorporated) | |
|---|---|---|
| 1-year return | +32.5% | +6.7% |
| 5-year return | +168.0% | +142.6% |
| Volatility (ann.) | 26.1% | 28.3% |
| Beta vs S&P 500 | 0.09 | 1.10 |
| Max drawdown (3Y) | -36.7% | -32.6% |
| Market cap | $32.8B | $24.8B |
| P/E (trailing) | 24.5 | 27.9 |
| Dividend yield | 0.92% | 1.18% |
| Sector / category | Financials | Industrials |
Year-by-year returns
| Year | CBOE | HUBB |
|---|---|---|
| 2022 | -2.2% | +15.1% |
| 2023 | +44.4% | +42.4% |
| 2024 | +10.7% | +28.9% |
| 2025 | +29.2% | +7.4% |
| 2026 | +25.7% | +6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBOE and HUBB good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between CBOE and HUBB?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.33 over the last year and -0.05 over 5 years.
Is HUBB a good diversifier for CBOE?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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.
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Related comparisons
Hubs: CBOE correlations · HUBB correlations
