CME vs UONEK: Correlation
How closely do CME Group (CME) and Urban One, Inc. (UONEK) 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 CME and UONEK?
Over the past 3 years, CME and UONEK moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -380.8 %².
Among the 47 assets we track against CME, UONEK ranks #33 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CME outperformed by 54.9 percentage points (+8.1% for CME against -46.8% for UONEK). One caveat on sizing: UONEK is 4.1 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 UONEK: side by side
| CME (CME Group) | UONEK (Urban One, Inc.) | |
|---|---|---|
| 1-year return | +8.1% | -46.8% |
| 5-year return | +73.9% | -93.7% |
| Volatility (ann.) | 20.0% | 82.3% |
| Beta vs S&P 500 | 0.12 | 0.73 |
| Max drawdown (3Y) | -31.1% | -93.1% |
| 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 | UONEK |
|---|---|---|
| 2022 | -22.9% | +10.9% |
| 2023 | +31.3% | -6.1% |
| 2024 | +15.4% | -71.7% |
| 2025 | +19.8% | -14.0% |
| 2026 | +5.9% | -49.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CME and UONEK 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 CME and UONEK?
The CME/UONEK correlation stands at -0.23 on a 3-year window (1 year: -0.27, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is UONEK a good diversifier for CME?
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?
A reading of -0.23 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/cme-vs-uonek.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cme-vs-uonek/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CME correlations · UONEK correlations
