CME vs E: Correlation
How closely do CME Group (CME) and ENI S.p.A. (E) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CME and E?
Across a 3-year window, the weekly returns of CME and E correlate at 0.26, weak. Lately the two have moved closer together, with the 1-year correlation at 0.57 versus 0.26 over 3 years. Stretching to 5 years gives 0.20, with an annualized covariance of 116.7 %².
By 3-year correlation, E places #13 of the 47 assets tracked against CME. Their recent paths diverged sharply: over the last 12 months E outperformed by 45.2 percentage points (+8.1% for CME against +53.3% for E).
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.
CME vs E: side by side
| CME (CME Group) | E (ENI S.p.A.) | |
|---|---|---|
| 1-year return | +8.1% | +53.3% |
| 5-year return | +73.9% | +193.3% |
| Volatility (ann.) | 20.0% | 22.4% |
| Beta vs S&P 500 | 0.12 | 0.04 |
| Max drawdown (3Y) | -31.1% | -20.1% |
| Market cap | $101.0B | $76.7B |
| P/E (trailing) | 23.8 | 11.9 |
| Dividend yield | 1.82% | 0.99% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CME | E |
|---|---|---|
| 2022 | -22.9% | +10.9% |
| 2023 | +31.3% | +26.7% |
| 2024 | +15.4% | -14.0% |
| 2025 | +19.8% | +43.8% |
| 2026 | +5.9% | +43.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CME and E good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CME and E?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.57 over the last year and 0.20 over 5 years.
Is E a good diversifier for CME?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cme-vs-e.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cme-vs-e/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CME correlations · E correlations
