CBOE vs OPTU: Correlation
How closely do Cboe Global Markets (CBOE) and Optimum Communications, Inc. (OPTU) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBOE and OPTU?
On 3 years of weekly data the CBOE/OPTU correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.22 over 3. The 5-year figure is -0.11, and annualized covariance runs at -522.2 %².
By 3-year correlation, OPTU places #27 of the 39 assets tracked against CBOE. Their recent paths diverged sharply: over the last 12 months CBOE outperformed by 90.4 percentage points (+32.5% for CBOE against -57.9% for OPTU). One caveat on sizing: OPTU is 3.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 OPTU: side by side
| CBOE (Cboe Global Markets) | OPTU (Optimum Communications, Inc.) | |
|---|---|---|
| 1-year return | +32.5% | -57.9% |
| 5-year return | +168.0% | -96.3% |
| Volatility (ann.) | 26.1% | 91.7% |
| Beta vs S&P 500 | 0.09 | 0.14 |
| Max drawdown (3Y) | -36.7% | -82.5% |
| Market cap | $32.8B | $0.4B |
| P/E (trailing) | 24.5 | – |
| Dividend yield | 0.92% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CBOE | OPTU |
|---|---|---|
| 2022 | -2.2% | -71.6% |
| 2023 | +44.4% | -29.3% |
| 2024 | +10.7% | -25.8% |
| 2025 | +29.2% | -31.5% |
| 2026 | +25.7% | -38.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBOE and OPTU 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 OPTU?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.30 over the last year and -0.11 over 5 years.
Is OPTU 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?
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-optu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cboe-vs-optu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CBOE correlations · OPTU correlations
