CBOE vs SOAR: Correlation
How closely do Cboe Global Markets (CBOE) and Volato Group, Inc. (SOAR) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBOE and SOAR?
On 3 years of weekly data the CBOE/SOAR correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.20). The 5-year figure is -0.18, and annualized covariance runs at -738.9 %².
By 3-year correlation, SOAR places #24 of the 39 assets tracked against CBOE. The last year tells two different stories: CBOE led by 119.4 percentage points, +32.5% for CBOE against -86.9% for SOAR. Note the risk asymmetry: SOAR runs 5.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SOAR: side by side
| CBOE (Cboe Global Markets) | SOAR (Volato Group, Inc.) | |
|---|---|---|
| 1-year return | +32.5% | -86.9% |
| 5-year return | +168.0% | -99.9% |
| Volatility (ann.) | 26.1% | 140.6% |
| Beta vs S&P 500 | 0.09 | 1.26 |
| Max drawdown (3Y) | -36.7% | -100.0% |
| Market cap | $32.8B | – |
| P/E (trailing) | 24.5 | – |
| Dividend yield | 0.92% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CBOE | SOAR |
|---|---|---|
| 2022 | -2.2% | – |
| 2023 | +44.4% | -62.9% |
| 2024 | +10.7% | -93.5% |
| 2025 | +29.2% | -88.2% |
| 2026 | +25.7% | -68.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBOE and SOAR good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CBOE and SOAR?
As of 2026-08-27, the correlation of weekly returns between CBOE and SOAR is -0.20 over 3 years, -0.36 over 1 year and -0.18 over 5 years.
Is SOAR a good diversifier for CBOE?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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-soar.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cboe-vs-soar/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CBOE correlations · SOAR correlations
