CCOI vs RXT: Correlation
How closely do Cogent Communications Holdings, Inc. (CCOI) and Rackspace Technology, Inc. (RXT) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCOI and RXT?
Across a 3-year window, the weekly returns of CCOI and RXT correlate at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.36) sits close to the 3-year figure. Stretching to 5 years gives -0.21, with an annualized covariance of -3832.3 %².
Among the 13 assets we track against CCOI, RXT sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with RXT ahead by 253.6 points (-74.3% versus +179.3%). Note the risk asymmetry: RXT runs 3.6 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 RXT: side by side
| CCOI (Cogent Communications Holdings, Inc.) | RXT (Rackspace Technology, Inc.) | |
|---|---|---|
| 1-year return | -74.3% | +179.3% |
| 5-year return | -83.0% | -75.7% |
| Volatility (ann.) | 63.2% | 230.1% |
| Beta vs S&P 500 | 0.57 | 3.34 |
| Max drawdown (3Y) | -88.3% | -86.5% |
| Market cap | $0.5B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 10.70% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCOI | RXT |
|---|---|---|
| 2022 | -17.2% | -78.1% |
| 2023 | +41.2% | -32.2% |
| 2024 | +7.2% | +10.5% |
| 2025 | -70.1% | -56.1% |
| 2026 | -55.0% | +248.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCOI and RXT good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CCOI and RXT?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.36 over the last year and -0.21 over 5 years.
Is RXT a good diversifier for CCOI?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 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-rxt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccoi-vs-rxt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCOI correlations · RXT correlations
