CTOS vs MYRG: Correlation
Measured on weekly returns over the past three years, Custom Truck One Source, Inc. (CTOS) and MYR Group, Inc. (MYRG) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTOS and MYRG?
Across a 3-year window, the weekly returns of CTOS and MYRG correlate at 0.58, moderate. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Stretching to 5 years gives 0.53, with an annualized covariance of 1584.3 %².
MYRG is one of the assets that tracks CTOS most closely: it ranks #2 out of the 13 assets we track against CTOS. Twelve-month performance is nearly a tie, at +61.3% for CTOS and +65.5% for MYRG.
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.
CTOS vs MYRG: side by side
| CTOS (Custom Truck One Source, Inc.) | MYRG (MYR Group, Inc.) | |
|---|---|---|
| 1-year return | +61.3% | +65.5% |
| 5-year return | +8.1% | +196.6% |
| Volatility (ann.) | 54.4% | 49.8% |
| Beta vs S&P 500 | 1.42 | 1.63 |
| Max drawdown (3Y) | -55.6% | -50.3% |
| Market cap | $2.2B | $4.8B |
| P/E (trailing) | 107.3 | 29.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTOS | MYRG |
|---|---|---|
| 2022 | -21.0% | -16.7% |
| 2023 | -2.2% | +57.1% |
| 2024 | -22.2% | +2.9% |
| 2025 | +19.8% | +46.9% |
| 2026 | +67.7% | +41.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTOS and MYRG good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CTOS and MYRG?
As of 2026-08-27, the correlation of weekly returns between CTOS and MYRG is 0.58 over 3 years, 0.64 over 1 year and 0.53 over 5 years.
Is MYRG a good diversifier for CTOS?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 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/ctos-vs-myrg.json
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Related comparisons
Hubs: CTOS correlations · MYRG correlations
