CMCO vs XLO: Correlation
How closely do Columbus McKinnon Corporation (CMCO) and Xilio Therapeutics, Inc. (XLO) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMCO and XLO?
On 3 years of weekly data the CMCO/XLO correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.06) runs above the 3-year figure (-0.23). The 5-year figure is -0.09, and annualized covariance runs at -1087.2 %².
Among the 15 assets we track against CMCO, XLO sits near the bottom by co-movement, at rank #11. The last year tells two different stories: CMCO led by 29.3 percentage points, +23.3% for CMCO against -6.0% for XLO. One caveat on sizing: XLO is 1.9 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.
CMCO vs XLO: side by side
| CMCO (Columbus McKinnon Corporation) | XLO (Xilio Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +23.3% | -6.0% |
| 5-year return | -58.0% | -96.0% |
| Volatility (ann.) | 50.1% | 96.4% |
| Beta vs S&P 500 | 1.42 | -0.07 |
| Max drawdown (3Y) | -72.8% | -82.8% |
| Market cap | $0.5B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 1.56% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMCO | XLO |
|---|---|---|
| 2022 | -29.3% | -83.2% |
| 2023 | +21.1% | -79.6% |
| 2024 | -3.9% | +73.6% |
| 2025 | -52.9% | -33.0% |
| 2026 | +7.8% | +0.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMCO and XLO good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CMCO and XLO?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with 0.06 over the last year and -0.09 over 5 years.
Is XLO a good diversifier for CMCO?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 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
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Related comparisons
Hubs: CMCO correlations · XLO correlations
