CNEY vs OXSQ: Correlation
CN Energy Group Inc. - Class A (CNEY) and Oxford Square Capital Corp. - Closed End Fund (OXSQ) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNEY and OXSQ?
Across a 3-year window, the weekly returns of CNEY and OXSQ correlate at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.43 versus -0.22 over 3 years. Stretching to 5 years gives -0.14, with an annualized covariance of -960.5 %².
Out of 10 assets tracked against CNEY, OXSQ lands near the bottom at #8. The last year tells two different stories: OXSQ led by 52.5 percentage points, -73.4% for CNEY against -20.9% for OXSQ. Risk is not evenly split, since CNEY carries 6.5 times the volatility of the other side.
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.
CNEY vs OXSQ: side by side
| CNEY (CN Energy Group Inc. - Class A) | OXSQ (Oxford Square Capital Corp. - Closed End Fund) | |
|---|---|---|
| 1-year return | -73.4% | -20.9% |
| 5-year return | -100.0% | -29.3% |
| Volatility (ann.) | 169.1% | 26.1% |
| Beta vs S&P 500 | 1.83 | 0.39 |
| Max drawdown (3Y) | -99.7% | -46.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 31.11% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNEY | OXSQ |
|---|---|---|
| 2022 | -73.2% | -14.4% |
| 2023 | -91.3% | +9.2% |
| 2024 | -84.3% | -1.9% |
| 2025 | -92.2% | -13.3% |
| 2026 | -0.1% | -8.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNEY and OXSQ good diversifiers for each other?
Yes. With a correlation of -0.22, CNEY and OXSQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CNEY and OXSQ?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.43 over the last year and -0.14 over 5 years.
Is OXSQ a good diversifier for CNEY?
Yes. With a correlation of -0.22, CNEY and OXSQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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
$ curl https://www.pairbook.io/api/v1/pairs/cney-vs-oxsq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cney-vs-oxsq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNEY correlations · OXSQ correlations
