CDRO vs STEX: Correlation
Measured on weekly returns over the past three years, Codere Online Luxembourg, S.A. (CDRO) and Streamex Corp. (STEX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDRO and STEX?
On 3 years of weekly data the CDRO/STEX correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.03) runs above the 3-year figure (-0.21). The 5-year figure is -0.09, and annualized covariance runs at -1788.1 %².
Out of 10 assets tracked against CDRO, STEX lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months CDRO outperformed by 91.3 percentage points (+8.6% for CDRO against -82.7% for STEX). One caveat on sizing: STEX is 4.2 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.
CDRO vs STEX: side by side
| CDRO (Codere Online Luxembourg, S.A.) | STEX (Streamex Corp.) | |
|---|---|---|
| 1-year return | +8.6% | -82.7% |
| 5-year return | -9.1% | -97.3% |
| Volatility (ann.) | 44.5% | 188.3% |
| Beta vs S&P 500 | 0.65 | 1.71 |
| Max drawdown (3Y) | -37.6% | -96.0% |
| Market cap | $0.4B | $0.2B |
| P/E (trailing) | 225.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDRO | STEX |
|---|---|---|
| 2022 | -57.1% | -81.2% |
| 2023 | +14.0% | +13.1% |
| 2024 | +119.4% | -68.6% |
| 2025 | +24.5% | +103.4% |
| 2026 | +12.1% | -72.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDRO and STEX good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CDRO and STEX?
The CDRO/STEX correlation stands at -0.21 on a 3-year window (1 year: -0.03, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is STEX a good diversifier for CDRO?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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-stex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cdro-vs-stex/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CDRO correlations · STEX correlations
