CCOI vs ZTS: Correlation
Measured on weekly returns over the past three years, Cogent Communications Holdings, Inc. (CCOI) and Zoetis (ZTS) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCOI and ZTS?
On 3 years of weekly data the CCOI/ZTS correlation comes out at 0.37, moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.37 over 3. The 5-year figure is 0.38, and annualized covariance runs at 701.9 %².
By 3-year correlation, ZTS places #4 of the 13 assets tracked against CCOI. Their recent paths diverged sharply: over the last 12 months ZTS outperformed by 23.5 percentage points (-74.3% for CCOI against -50.8% for ZTS). 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 ZTS: side by side
| CCOI (Cogent Communications Holdings, Inc.) | ZTS (Zoetis) | |
|---|---|---|
| 1-year return | -74.3% | -50.8% |
| 5-year return | -83.0% | -61.5% |
| Volatility (ann.) | 63.2% | 30.1% |
| Beta vs S&P 500 | 0.57 | 0.51 |
| Max drawdown (3Y) | -88.3% | -63.0% |
| Market cap | $0.5B | $31.0B |
| P/E (trailing) | – | 12.7 |
| Dividend yield | 10.70% | 2.66% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | CCOI | ZTS |
|---|---|---|
| 2022 | -17.2% | -39.5% |
| 2023 | +41.2% | +35.9% |
| 2024 | +7.2% | -16.6% |
| 2025 | -70.1% | -21.8% |
| 2026 | -55.0% | -39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCOI and ZTS good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CCOI and ZTS?
The CCOI/ZTS correlation stands at 0.37 on a 3-year window (1 year: 0.44, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is ZTS a good diversifier for CCOI?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 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/ccoi-vs-zts.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccoi-vs-zts/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCOI correlations · ZTS correlations
