CNOB vs MXC: Correlation
Measured on weekly returns over the past three years, ConnectOne Bancorp, Inc. (CNOB) and Mexco Energy Corporation (MXC) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNOB and MXC?
Across a 3-year window, the weekly returns of CNOB and MXC correlate at -0.16, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.28 versus -0.16 over 3 years. Stretching to 5 years gives -0.04, with an annualized covariance of -333.2 %².
Among the 17 assets we track against CNOB, MXC sits near the bottom by co-movement, at rank #15. The trailing year gives CNOB the advantage: +27.5% versus +21.6%, a 5.9-point spread. One caveat on sizing: MXC 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.
CNOB vs MXC: side by side
| CNOB (ConnectOne Bancorp, Inc.) | MXC (Mexco Energy Corporation) | |
|---|---|---|
| 1-year return | +27.5% | +21.6% |
| 5-year return | +28.9% | +7.2% |
| Volatility (ann.) | 33.9% | 62.1% |
| Beta vs S&P 500 | 0.94 | -0.31 |
| Max drawdown (3Y) | -26.6% | -60.6% |
| Market cap | $1.6B | – |
| P/E (trailing) | 9.9 | 13.0 |
| Dividend yield | 2.35% | 1.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNOB | MXC |
|---|---|---|
| 2022 | -24.4% | +33.0% |
| 2023 | -1.8% | -26.2% |
| 2024 | +3.3% | +24.6% |
| 2025 | +17.8% | -10.8% |
| 2026 | +24.1% | -0.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNOB and MXC good diversifiers for each other?
Yes. With a correlation of -0.16, CNOB and MXC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CNOB and MXC?
As of 2026-08-27, the correlation of weekly returns between CNOB and MXC is -0.16 over 3 years, -0.28 over 1 year and -0.04 over 5 years.
Is MXC a good diversifier for CNOB?
Yes. With a correlation of -0.16, CNOB and MXC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 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/cnob-vs-mxc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnob-vs-mxc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNOB correlations · MXC correlations
