CPK vs FLYE: Correlation
Chesapeake Utilities Corporation (CPK) and Fly-E Group, Inc. (FLYE) 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 CPK and FLYE?
Across a 3-year window, the weekly returns of CPK and FLYE 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 -0.38 versus -0.22 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -615.1 %².
Out of 11 assets tracked against CPK, FLYE lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with CPK ahead by 99.1 points (+10.1% versus -89.0%). Note the risk asymmetry: FLYE runs 7.5 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.
CPK vs FLYE: side by side
| CPK (Chesapeake Utilities Corporation) | FLYE (Fly-E Group, Inc.) | |
|---|---|---|
| 1-year return | +10.1% | -89.0% |
| 5-year return | +13.6% | n/a |
| Volatility (ann.) | 20.5% | 153.0% |
| Beta vs S&P 500 | 0.12 | 1.73 |
| Max drawdown (3Y) | -22.0% | -99.8% |
| Market cap | $3.2B | – |
| P/E (trailing) | 21.4 | – |
| Dividend yield | 2.08% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CPK | FLYE |
|---|---|---|
| 2022 | -17.6% | – |
| 2023 | -8.8% | – |
| 2024 | +17.4% | – |
| 2025 | +5.1% | -92.1% |
| 2026 | +8.1% | -74.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPK and FLYE good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CPK and FLYE?
The CPK/FLYE correlation stands at -0.22 on a 3-year window (1 year: -0.38, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is FLYE a good diversifier for CPK?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
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.
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Related comparisons
Hubs: CPK correlations · FLYE correlations
