CENX vs UP: Correlation
Measured on weekly returns over the past three years, Century Aluminum Company (CENX) and Wheels Up Experience Inc. (UP) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CENX and UP?
On 3 years of weekly data the CENX/UP correlation comes out at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.37) sits close to the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 3405.6 %².
UP is close to the least connected end of CENX's tracked universe, ranking #9 of 12. Correlation aside, the last 12 months split them widely, with CENX ahead by 193.7 points (+102.2% versus -91.5%). One caveat on sizing: UP is 2.1 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.
CENX vs UP: side by side
| CENX (Century Aluminum Company) | UP (Wheels Up Experience Inc.) | |
|---|---|---|
| 1-year return | +102.2% | -91.5% |
| 5-year return | +270.4% | -99.6% |
| Volatility (ann.) | 67.1% | 142.6% |
| Beta vs S&P 500 | 2.12 | 1.69 |
| Max drawdown (3Y) | -42.8% | -95.8% |
| Market cap | $4.5B | $0.2B |
| P/E (trailing) | 7.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CENX | UP |
|---|---|---|
| 2022 | -50.6% | -77.8% |
| 2023 | +48.4% | -66.7% |
| 2024 | +50.1% | -51.9% |
| 2025 | +115.0% | -60.2% |
| 2026 | +17.1% | -62.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CENX and UP good diversifiers for each other?
Reasonably. At 0.36, CENX and UP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CENX and UP?
As of 2026-08-27, the correlation of weekly returns between CENX and UP is 0.36 over 3 years, 0.37 over 1 year and 0.34 over 5 years.
Is UP a good diversifier for CENX?
Reasonably. At 0.36, CENX and UP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CENX correlations · UP correlations
