CME vs FOR: Correlation
How closely do CME Group (CME) and Forestar Group Inc (FOR) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CME and FOR?
Across a 3-year window, the weekly returns of CME and FOR correlate at -0.24, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.37) runs below the 3-year figure (-0.24). Stretching to 5 years gives -0.04, with an annualized covariance of -172.1 %².
Among the 47 assets we track against CME, FOR ranks #37 by 3-year correlation. Neither side won the trailing year by much: +8.1% against +3.3%. One caveat on sizing: FOR is 1.8 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.
CME vs FOR: side by side
| CME (CME Group) | FOR (Forestar Group Inc) | |
|---|---|---|
| 1-year return | +8.1% | +3.3% |
| 5-year return | +73.9% | +34.9% |
| Volatility (ann.) | 20.0% | 35.8% |
| Beta vs S&P 500 | 0.12 | 0.84 |
| Max drawdown (3Y) | -31.1% | -54.7% |
| Market cap | $101.0B | $1.5B |
| P/E (trailing) | 23.8 | 8.6 |
| Dividend yield | 1.82% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CME | FOR |
|---|---|---|
| 2022 | -22.9% | -29.1% |
| 2023 | +31.3% | +114.6% |
| 2024 | +15.4% | -21.6% |
| 2025 | +19.8% | -5.0% |
| 2026 | +5.9% | +16.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CME and FOR good diversifiers for each other?
Yes. With a correlation of -0.24, CME and FOR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CME and FOR?
The CME/FOR correlation stands at -0.24 on a 3-year window (1 year: -0.37, 5 years: -0.04), computed from weekly returns as of 2026-08-27.
Is FOR a good diversifier for CME?
Yes. With a correlation of -0.24, CME and FOR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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.
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Related comparisons
Hubs: CME correlations · FOR correlations
