CCOI vs EXPD: Correlation
Cogent Communications Holdings, Inc. (CCOI) and Expeditors International (EXPD) 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 CCOI and EXPD?
Across a 3-year window, the weekly returns of CCOI and EXPD correlate at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus -0.21 over 3 years. Stretching to 5 years gives -0.05, with an annualized covariance of -322.8 %².
EXPD is close to the least connected end of CCOI's tracked universe, ranking #9 of 13. Their recent paths diverged sharply: over the last 12 months EXPD outperformed by 131.8 percentage points (-74.3% for CCOI against +57.5% for EXPD). Note the risk asymmetry: CCOI runs 2.6 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.
CCOI vs EXPD: side by side
| CCOI (Cogent Communications Holdings, Inc.) | EXPD (Expeditors International) | |
|---|---|---|
| 1-year return | -74.3% | +57.5% |
| 5-year return | -83.0% | +60.9% |
| Volatility (ann.) | 63.2% | 24.2% |
| Beta vs S&P 500 | 0.57 | 0.65 |
| Max drawdown (3Y) | -88.3% | -21.3% |
| Market cap | $0.5B | $24.8B |
| P/E (trailing) | – | 27.7 |
| Dividend yield | 10.70% | 0.83% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CCOI | EXPD |
|---|---|---|
| 2022 | -17.2% | -21.7% |
| 2023 | +41.2% | +23.9% |
| 2024 | +7.2% | -11.9% |
| 2025 | -70.1% | +36.2% |
| 2026 | -55.0% | +28.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCOI and EXPD good diversifiers for each other?
Yes. With a correlation of -0.21, CCOI and EXPD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CCOI and EXPD?
The CCOI/EXPD correlation stands at -0.21 on a 3-year window (1 year: -0.39, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is EXPD a good diversifier for CCOI?
Yes. With a correlation of -0.21, CCOI and EXPD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
A reading of -0.21 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/ccoi-vs-expd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ccoi-vs-expd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCOI correlations · EXPD correlations
