CCNE vs RDNW: Correlation
Measured on weekly returns over the past three years, CNB Financial Corporation (CCNE) and RideNow Group, Inc. (RDNW) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCNE and RDNW?
On 3 years of weekly data the CCNE/RDNW correlation comes out at 0.50, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.23 versus 0.50 over 3 years. The 5-year figure is 0.40, and annualized covariance runs at 1170.2 %².
Among the 27 assets we track against CCNE, RDNW ranks #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RDNW ahead by 42.8 points (+30.2% versus +73.0%). One caveat on sizing: RDNW is 2.8 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.
CCNE vs RDNW: side by side
| CCNE (CNB Financial Corporation) | RDNW (RideNow Group, Inc.) | |
|---|---|---|
| 1-year return | +30.2% | +73.0% |
| 5-year return | +61.1% | -83.4% |
| Volatility (ann.) | 29.0% | 80.4% |
| Beta vs S&P 500 | 0.84 | 2.03 |
| Max drawdown (3Y) | -29.7% | -82.3% |
| Market cap | $1.0B | $0.2B |
| P/E (trailing) | 10.6 | – |
| Dividend yield | 2.18% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCNE | RDNW |
|---|---|---|
| 2022 | -7.8% | -84.4% |
| 2023 | -1.6% | +25.8% |
| 2024 | +13.6% | -33.3% |
| 2025 | +8.4% | +1.7% |
| 2026 | +31.5% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCNE and RDNW good diversifiers for each other?
Only partially. A correlation of 0.50 means CCNE and RDNW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CCNE and RDNW?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.23 over the last year and 0.40 over 5 years.
Is RDNW a good diversifier for CCNE?
Only partially. A correlation of 0.50 means CCNE and RDNW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 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/ccne-vs-rdnw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ccne-vs-rdnw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CCNE correlations · RDNW correlations
