CBOE vs SFL: Correlation
Measured on weekly returns over the past three years, Cboe Global Markets (CBOE) and SFL Corporation Ltd (SFL) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBOE and SFL?
On 3 years of weekly data the CBOE/SFL correlation comes out at 0.27, weak. The past 12 months show a tighter link (0.41) than the 3-year average (0.27). The 5-year figure is 0.20, and annualized covariance runs at 193.4 %².
Among the 39 assets we track against CBOE, SFL ranks #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SFL ahead by 22.9 points (+32.5% versus +55.4%).
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 SFL: side by side
| CBOE (Cboe Global Markets) | SFL (SFL Corporation Ltd) | |
|---|---|---|
| 1-year return | +32.5% | +55.4% |
| 5-year return | +168.0% | +130.7% |
| Volatility (ann.) | 26.1% | 28.0% |
| Beta vs S&P 500 | 0.09 | 0.53 |
| Max drawdown (3Y) | -36.7% | -46.4% |
| Market cap | $32.8B | $1.7B |
| P/E (trailing) | 24.5 | 25.2 |
| Dividend yield | 0.92% | 3.33% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CBOE | SFL |
|---|---|---|
| 2022 | -2.2% | +23.5% |
| 2023 | +44.4% | +34.5% |
| 2024 | +10.7% | -0.8% |
| 2025 | +29.2% | -18.6% |
| 2026 | +25.7% | +64.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBOE and SFL good diversifiers for each other?
Reasonably. At 0.27, CBOE and SFL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CBOE and SFL?
As of 2026-08-27, the correlation of weekly returns between CBOE and SFL is 0.27 over 3 years, 0.41 over 1 year and 0.20 over 5 years.
Is SFL a good diversifier for CBOE?
Reasonably. At 0.27, CBOE and SFL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 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.
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Related comparisons
Hubs: CBOE correlations · SFL correlations
