CME vs FTEK: Correlation
How closely do CME Group (CME) and Fuel Tech, Inc. (FTEK) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CME and FTEK?
Over the past 3 years, CME and FTEK moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.19). Over 5 years the correlation is -0.02, and the annualized covariance of weekly returns is -218.2 %².
Among the 47 assets we track against CME, FTEK ranks #24 by 3-year correlation. The last year tells two different stories: CME led by 57.9 percentage points, +8.1% for CME against -49.8% for FTEK. Note the risk asymmetry: FTEK runs 2.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 FTEK: side by side
| CME (CME Group) | FTEK (Fuel Tech, Inc.) | |
|---|---|---|
| 1-year return | +8.1% | -49.8% |
| 5-year return | +73.9% | -21.1% |
| Volatility (ann.) | 20.0% | 58.1% |
| Beta vs S&P 500 | 0.12 | 0.70 |
| Max drawdown (3Y) | -31.1% | -67.2% |
| Market cap | $101.0B | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 1.82% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CME | FTEK |
|---|---|---|
| 2022 | -22.9% | -9.3% |
| 2023 | +31.3% | -17.3% |
| 2024 | +15.4% | +0.0% |
| 2025 | +19.8% | +48.6% |
| 2026 | +5.9% | -6.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CME and FTEK good diversifiers for each other?
Yes. With a correlation of -0.19, CME and FTEK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CME and FTEK?
The CME/FTEK correlation stands at -0.19 on a 3-year window (1 year: -0.37, 5 years: -0.02), computed from weekly returns as of 2026-08-27.
Is FTEK a good diversifier for CME?
Yes. With a correlation of -0.19, CME and FTEK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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 · FTEK correlations
