CDRO vs PACS: Correlation
Codere Online Luxembourg, S.A. (CDRO) and PACS Group, Inc. (PACS) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDRO and PACS?
Across a 3-year window, the weekly returns of CDRO and PACS correlate at 0.33, moderate. The past 12 months show a tighter link (0.55) than the 3-year average (0.33). Stretching to 5 years gives n/a, with an annualized covariance of 1438.7 %².
Among the 10 assets we track against CDRO, PACS ranks #4 by 3-year correlation. The last year tells two different stories: PACS led by 264.4 percentage points, +8.6% for CDRO against +273.0% for PACS. Risk is not evenly split, since PACS carries 2.7 times the volatility of the other side.
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.
CDRO vs PACS: side by side
| CDRO (Codere Online Luxembourg, S.A.) | PACS (PACS Group, Inc.) | |
|---|---|---|
| 1-year return | +8.6% | +273.0% |
| 5-year return | -9.1% | n/a |
| Volatility (ann.) | 44.5% | 120.5% |
| Beta vs S&P 500 | 0.65 | 0.06 |
| Max drawdown (3Y) | -37.6% | -82.0% |
| Market cap | $0.4B | $7.0B |
| P/E (trailing) | 225.0 | 25.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDRO | PACS |
|---|---|---|
| 2022 | -57.1% | – |
| 2023 | +14.0% | – |
| 2024 | +119.4% | – |
| 2025 | +24.5% | +192.8% |
| 2026 | +12.1% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDRO and PACS good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CDRO and PACS?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.55 over the last year and n/a over 5 years.
Is PACS a good diversifier for CDRO?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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/cdro-vs-pacs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cdro-vs-pacs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CDRO correlations · PACS correlations
