CVEO vs OIO: Correlation
Civeo Corporation (Canada) (CVEO) and OIO Group (OIO) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVEO and OIO?
On 3 years of weekly data the CVEO/OIO correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.21 lands near the 3-year figure. The 5-year figure is -0.18, and annualized covariance runs at -1031.8 %².
Among the 11 assets we track against CVEO, OIO sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months CVEO outperformed by 116.5 percentage points (+42.4% for CVEO against -74.1% for OIO). Note the risk asymmetry: OIO runs 2.9 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.
CVEO vs OIO: side by side
| CVEO (Civeo Corporation (Canada)) | OIO (OIO Group) | |
|---|---|---|
| 1-year return | +42.4% | -74.1% |
| 5-year return | +69.2% | -93.0% |
| Volatility (ann.) | 35.1% | 100.9% |
| Beta vs S&P 500 | 0.16 | 0.48 |
| Max drawdown (3Y) | -33.2% | -87.4% |
| Market cap | $0.3B | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVEO | OIO |
|---|---|---|
| 2022 | +62.2% | – |
| 2023 | -24.8% | -93.1% |
| 2024 | +3.6% | +91.1% |
| 2025 | +1.6% | +200.8% |
| 2026 | +47.6% | -82.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVEO and OIO good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between CVEO and OIO?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.21 over the last year and -0.18 over 5 years.
Is OIO a good diversifier for CVEO?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 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/cveo-vs-oio.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cveo-vs-oio/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CVEO correlations · OIO correlations
