CF vs PEO: Correlation
Measured on weekly returns over the past three years, CF Industries (CF) and Adams Natural Resources Fund, Inc. (PEO) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CF and PEO?
Over the past 3 years, CF and PEO moved with a correlation of 0.60, which is strong. The relationship has been stable: the 1-year correlation (0.69) sits close to the 3-year figure. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 396.3 %².
By 3-year correlation, PEO places #6 of the 50 assets tracked against CF. Over the last 12 months CF came out ahead by 7.0 percentage points (+48.6% against +41.6%). Risk is not evenly split, since CF 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.
CF vs PEO: side by side
| CF (CF Industries) | PEO (Adams Natural Resources Fund, Inc.) | |
|---|---|---|
| 1-year return | +48.6% | +41.6% |
| 5-year return | +211.5% | +179.3% |
| Volatility (ann.) | 32.8% | 20.2% |
| Beta vs S&P 500 | -0.20 | 0.30 |
| Max drawdown (3Y) | -29.2% | -18.9% |
| Market cap | $19.0B | $0.8B |
| P/E (trailing) | 9.3 | 4.8 |
| Dividend yield | 1.59% | 7.09% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | CF | PEO |
|---|---|---|
| 2022 | +22.3% | +41.8% |
| 2023 | -4.7% | +0.9% |
| 2024 | +10.1% | +13.6% |
| 2025 | -7.2% | +10.0% |
| 2026 | +64.9% | +38.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CF and PEO good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CF and PEO?
The CF/PEO correlation stands at 0.60 on a 3-year window (1 year: 0.69, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is PEO a good diversifier for CF?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cf-vs-peo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cf-vs-peo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CF correlations · PEO correlations
