CE vs TROX: Correlation
Celanese Corporation (CE) and Tronox Holdings plc (TROX) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CE and TROX?
Over the past 3 years, CE and TROX moved with a correlation of 0.58, which is moderate. The link has tightened recently: the 1-year correlation (0.69) runs above the 3-year figure (0.58). Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 1992.6 %².
Within CE's tracked universe of 14 assets, TROX comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TROX ahead by 41.7 points (-4.6% versus +37.1%).
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.
CE vs TROX: side by side
| CE (Celanese Corporation) | TROX (Tronox Holdings plc) | |
|---|---|---|
| 1-year return | -4.6% | +37.1% |
| 5-year return | -69.7% | -67.8% |
| Volatility (ann.) | 49.7% | 69.1% |
| Beta vs S&P 500 | 0.79 | 1.88 |
| Max drawdown (3Y) | -79.0% | -84.5% |
| Market cap | $4.9B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.27% | 3.66% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CE | TROX |
|---|---|---|
| 2022 | -37.8% | -41.1% |
| 2023 | +55.7% | +7.4% |
| 2024 | -54.6% | -26.4% |
| 2025 | -38.8% | -55.6% |
| 2026 | +6.3% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CE and TROX good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CE and TROX?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.69 over the last year and 0.60 over 5 years.
Is TROX a good diversifier for CE?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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/ce-vs-trox.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ce-vs-trox/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CE correlations · TROX correlations
