CECO vs SPXC: Correlation
CECO Environmental Corp. (CECO) and SPX Technologies, Inc. (SPXC) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CECO and SPXC?
Across a 3-year window, the weekly returns of CECO and SPXC correlate at 0.42, moderate. The past 12 months show a weaker link (0.30) than the 3-year average (0.42). Stretching to 5 years gives 0.43, with an annualized covariance of 770.7 %².
Among the 12 assets we track against CECO, SPXC ranks #5 by 3-year correlation. The last year tells two different stories: CECO led by 47.4 percentage points, +54.1% for CECO against +6.7% for SPXC. Risk is not evenly split, since CECO carries 1.6 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.
CECO vs SPXC: side by side
| CECO (CECO Environmental Corp.) | SPXC (SPX Technologies, Inc.) | |
|---|---|---|
| 1-year return | +54.1% | +6.7% |
| 5-year return | +853.0% | +226.0% |
| Volatility (ann.) | 54.0% | 33.7% |
| Beta vs S&P 500 | 0.97 | 1.20 |
| Max drawdown (3Y) | -47.9% | -33.5% |
| Market cap | $4.2B | $10.3B |
| P/E (trailing) | – | 36.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CECO | SPXC |
|---|---|---|
| 2022 | +87.5% | +10.0% |
| 2023 | +73.6% | +53.9% |
| 2024 | +49.1% | +44.1% |
| 2025 | +98.0% | +37.5% |
| 2026 | +20.5% | +2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CECO and SPXC good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CECO and SPXC?
As of 2026-08-27, the correlation of weekly returns between CECO and SPXC is 0.42 over 3 years, 0.30 over 1 year and 0.43 over 5 years.
Is SPXC a good diversifier for CECO?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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.
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Related comparisons
Hubs: CECO correlations · SPXC correlations
