CG vs ICE: Correlation
The Carlyle Group Inc. (CG) and Intercontinental Exchange (ICE) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CG and ICE?
Across a 3-year window, the weekly returns of CG and ICE correlate at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Stretching to 5 years gives 0.49, with an annualized covariance of 386.3 %².
Within CG's tracked universe of 21 assets, ICE comes in at #15 by 3-year correlation. On 12-month performance ICE holds a 13.9-point edge, -21.8% against -7.9%. Risk is not evenly split, since CG carries 1.7 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.
CG vs ICE: side by side
| CG (The Carlyle Group Inc.) | ICE (Intercontinental Exchange) | |
|---|---|---|
| 1-year return | -21.8% | -7.9% |
| 5-year return | +18.0% | +44.2% |
| Volatility (ann.) | 36.8% | 21.2% |
| Beta vs S&P 500 | 1.68 | 0.62 |
| Max drawdown (3Y) | -40.4% | -33.9% |
| Market cap | $17.5B | $90.5B |
| P/E (trailing) | 50.8 | 22.7 |
| Dividend yield | 2.86% | 1.24% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | CG | ICE |
|---|---|---|
| 2022 | -43.8% | -23.9% |
| 2023 | +42.6% | +27.1% |
| 2024 | +28.1% | +17.5% |
| 2025 | +20.2% | +9.9% |
| 2026 | -14.9% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CG and ICE good diversifiers for each other?
Only partially. A correlation of 0.50 means CG and ICE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CG and ICE?
As of 2026-08-27, the correlation of weekly returns between CG and ICE is 0.50 over 3 years, 0.48 over 1 year and 0.49 over 5 years.
Is ICE a good diversifier for CG?
Only partially. A correlation of 0.50 means CG and ICE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cg-vs-ice.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cg-vs-ice/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CG correlations · ICE correlations
