CBOE vs MDRR: Correlation
Measured on weekly returns over the past three years, Cboe Global Markets (CBOE) and Medalist Diversified, Inc. (MDRR) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBOE and MDRR?
On 3 years of weekly data the CBOE/MDRR correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.37 versus -0.24 over 3 years. The 5-year figure is -0.14, and annualized covariance runs at -179.3 %².
By 3-year correlation, MDRR places #29 of the 39 assets tracked against CBOE. Correlation aside, the last 12 months split them widely, with CBOE ahead by 27.7 points (+32.5% versus +4.8%).
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 MDRR: side by side
| CBOE (Cboe Global Markets) | MDRR (Medalist Diversified, Inc.) | |
|---|---|---|
| 1-year return | +32.5% | +4.8% |
| 5-year return | +168.0% | -31.3% |
| Volatility (ann.) | 26.1% | 28.1% |
| Beta vs S&P 500 | 0.09 | -0.02 |
| Max drawdown (3Y) | -36.7% | -29.5% |
| Market cap | $32.8B | – |
| P/E (trailing) | 24.5 | 3.1 |
| Dividend yield | 0.92% | 2.21% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CBOE | MDRR |
|---|---|---|
| 2022 | -2.2% | -37.3% |
| 2023 | +44.4% | -4.0% |
| 2024 | +10.7% | +28.6% |
| 2025 | +29.2% | -5.5% |
| 2026 | +25.7% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBOE and MDRR good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between CBOE and MDRR?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.37 over the last year and -0.14 over 5 years.
Is MDRR a good diversifier for CBOE?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cboe-vs-mdrr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cboe-vs-mdrr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBOE correlations · MDRR correlations
