CECO vs TTEC: Correlation
How closely do CECO Environmental Corp. (CECO) and TTEC Holdings, Inc. (TTEC) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CECO and TTEC?
Across a 3-year window, the weekly returns of CECO and TTEC correlate at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. Stretching to 5 years gives -0.13, with an annualized covariance of -1180.1 %².
TTEC is close to the least connected end of CECO's tracked universe, ranking #10 of 12. The last year tells two different stories: CECO led by 116.5 percentage points, +54.1% for CECO against -62.4% for TTEC. One caveat on sizing: TTEC is 1.6 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.
CECO vs TTEC: side by side
| CECO (CECO Environmental Corp.) | TTEC (TTEC Holdings, Inc.) | |
|---|---|---|
| 1-year return | +54.1% | -62.4% |
| 5-year return | +853.0% | -98.6% |
| Volatility (ann.) | 54.0% | 83.7% |
| Beta vs S&P 500 | 0.97 | 1.01 |
| Max drawdown (3Y) | -47.9% | -95.4% |
| Market cap | $4.2B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CECO | TTEC |
|---|---|---|
| 2022 | +87.5% | -50.4% |
| 2023 | +73.6% | -49.1% |
| 2024 | +49.1% | -76.8% |
| 2025 | +98.0% | -27.9% |
| 2026 | +20.5% | -61.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CECO and TTEC good diversifiers for each other?
Yes. With a correlation of -0.26, CECO and TTEC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CECO and TTEC?
The CECO/TTEC correlation stands at -0.26 on a 3-year window (1 year: -0.24, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is TTEC a good diversifier for CECO?
Yes. With a correlation of -0.26, CECO and TTEC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 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.
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Related comparisons
Hubs: CECO correlations · TTEC correlations
