CCO vs MKSI: Correlation
Measured on weekly returns over the past three years, Clear Channel Outdoor Holdings, Inc. (CCO) and MKS Inc. (MKSI) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCO and MKSI?
On 3 years of weekly data the CCO/MKSI correlation comes out at 0.44, moderate. The link has loosened recently: the 1-year correlation (0.29) runs below the 3-year figure (0.44). The 5-year figure is 0.42, and annualized covariance runs at 1084.5 %².
Few assets follow CCO as closely as MKSI, which ranks #3 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months MKSI outperformed by 69.3 percentage points (+88.2% for CCO against +157.5% for MKSI).
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.
CCO vs MKSI: side by side
| CCO (Clear Channel Outdoor Holdings, Inc.) | MKSI (MKS Inc.) | |
|---|---|---|
| 1-year return | +88.2% | +157.5% |
| 5-year return | -6.3% | +88.2% |
| Volatility (ann.) | 48.4% | 50.8% |
| Beta vs S&P 500 | 1.25 | 2.39 |
| Max drawdown (3Y) | -57.1% | -59.1% |
| Market cap | $1.2B | $18.3B |
| P/E (trailing) | – | 43.3 |
| Dividend yield | 0.00% | 0.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCO | MKSI |
|---|---|---|
| 2022 | -68.3% | -51.0% |
| 2023 | +73.3% | +22.6% |
| 2024 | -24.7% | +2.2% |
| 2025 | +61.3% | +54.4% |
| 2026 | +8.1% | +70.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCO and MKSI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CCO and MKSI?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.29 over the last year and 0.42 over 5 years.
Is MKSI a good diversifier for CCO?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cco-vs-mksi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cco-vs-mksi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CCO correlations · MKSI correlations
