CMC vs TKO: Correlation
Commercial Metals Company (CMC) and TKO Group Holdings (TKO) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMC and TKO?
Across a 3-year window, the weekly returns of CMC and TKO correlate at 0.41, moderate. The relationship has been stable: the 1-year correlation (0.39) sits close to the 3-year figure. Stretching to 5 years gives 0.37, with an annualized covariance of 443.0 %².
Out of 19 assets tracked against CMC, TKO lands near the bottom at #16. Their recent paths diverged sharply: over the last 12 months CMC outperformed by 21.2 percentage points (+22.0% for CMC against +0.8% for TKO).
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.
CMC vs TKO: side by side
| CMC (Commercial Metals Company) | TKO (TKO Group Holdings) | |
|---|---|---|
| 1-year return | +22.0% | +0.8% |
| 5-year return | +119.5% | +281.8% |
| Volatility (ann.) | 33.3% | 32.1% |
| Beta vs S&P 500 | 1.26 | 0.70 |
| Max drawdown (3Y) | -37.6% | -34.8% |
| Market cap | – | $34.9B |
| P/E (trailing) | 12.9 | 65.8 |
| Dividend yield | 1.08% | 1.66% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | CMC | TKO |
|---|---|---|
| 2022 | +35.0% | +39.9% |
| 2023 | +5.0% | +23.9% |
| 2024 | +0.4% | +74.2% |
| 2025 | +41.5% | +48.9% |
| 2026 | +0.2% | -11.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMC and TKO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CMC and TKO?
As of 2026-08-27, the correlation of weekly returns between CMC and TKO is 0.41 over 3 years, 0.39 over 1 year and 0.37 over 5 years.
Is TKO a good diversifier for CMC?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 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/cmc-vs-tko.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmc-vs-tko/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CMC correlations · TKO correlations
