CBOE vs RIVN: Correlation
Cboe Global Markets (CBOE) and Rivian Automotive, Inc. (RIVN) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBOE and RIVN?
Across a 3-year window, the weekly returns of CBOE and RIVN correlate at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.14) sits close to the 3-year figure. Stretching to 5 years gives -0.06, with an annualized covariance of -372.4 %².
By 3-year correlation, RIVN places #25 of the 39 assets tracked against CBOE. On 12-month performance CBOE holds a 5.4-point edge, +32.5% against +27.1%. One caveat on sizing: RIVN is 2.6 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 RIVN: side by side
| CBOE (Cboe Global Markets) | RIVN (Rivian Automotive, Inc.) | |
|---|---|---|
| 1-year return | +32.5% | +27.1% |
| 5-year return | +168.0% | -83.3% |
| Volatility (ann.) | 26.1% | 66.9% |
| Beta vs S&P 500 | 0.09 | 1.19 |
| Max drawdown (3Y) | -36.7% | -65.5% |
| Market cap | $32.8B | $24.3B |
| P/E (trailing) | 24.5 | – |
| Dividend yield | 0.92% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CBOE | RIVN |
|---|---|---|
| 2022 | -2.2% | -82.2% |
| 2023 | +44.4% | +27.3% |
| 2024 | +10.7% | -43.3% |
| 2025 | +29.2% | +48.2% |
| 2026 | +25.7% | -14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBOE and RIVN good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between CBOE and RIVN?
As of 2026-08-27, the correlation of weekly returns between CBOE and RIVN is -0.21 over 3 years, -0.14 over 1 year and -0.06 over 5 years.
Is RIVN a good diversifier for CBOE?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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 · RIVN correlations
