CCOI vs HGTY: Correlation
Measured on weekly returns over the past three years, Cogent Communications Holdings, Inc. (CCOI) and Hagerty, Inc. (HGTY) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCOI and HGTY?
On 3 years of weekly data the CCOI/HGTY correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.47) runs below the 3-year figure (-0.28). The 5-year figure is -0.10, and annualized covariance runs at -521.4 %².
Among the 13 assets we track against CCOI, HGTY sits near the bottom by co-movement, at rank #11. The last year tells two different stories: HGTY led by 93.9 percentage points, -74.3% for CCOI against +19.6% for HGTY. One caveat on sizing: CCOI is 2.1 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.
CCOI vs HGTY: side by side
| CCOI (Cogent Communications Holdings, Inc.) | HGTY (Hagerty, Inc.) | |
|---|---|---|
| 1-year return | -74.3% | +19.6% |
| 5-year return | -83.0% | +32.9% |
| Volatility (ann.) | 63.2% | 29.7% |
| Beta vs S&P 500 | 0.57 | 0.63 |
| Max drawdown (3Y) | -88.3% | -31.1% |
| Market cap | $0.5B | $4.6B |
| P/E (trailing) | – | 102.5 |
| Dividend yield | 10.70% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCOI | HGTY |
|---|---|---|
| 2022 | -17.2% | -40.7% |
| 2023 | +41.2% | -7.3% |
| 2024 | +7.2% | +23.7% |
| 2025 | -70.1% | +39.3% |
| 2026 | -55.0% | -0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCOI and HGTY good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between CCOI and HGTY?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.47 over the last year and -0.10 over 5 years.
Is HGTY a good diversifier for CCOI?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/ccoi-vs-hgty.json
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Related comparisons
Hubs: CCOI correlations · HGTY correlations
