CVEO vs WFCF: Correlation
How closely do Civeo Corporation (Canada) (CVEO) and Where Food Comes From, Inc. (WFCF) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVEO and WFCF?
On 3 years of weekly data the CVEO/WFCF correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. The 5-year figure is -0.14, and annualized covariance runs at -477.7 %².
Among the 11 assets we track against CVEO, WFCF sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with CVEO ahead by 32.0 points (+42.4% versus +10.4%). Note the risk asymmetry: WFCF runs 1.6 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 WFCF: side by side
| CVEO (Civeo Corporation (Canada)) | WFCF (Where Food Comes From, Inc.) | |
|---|---|---|
| 1-year return | +42.4% | +10.4% |
| 5-year return | +69.2% | +0.4% |
| Volatility (ann.) | 35.1% | 57.1% |
| Beta vs S&P 500 | 0.16 | 0.27 |
| Max drawdown (3Y) | -33.2% | -49.1% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | 45.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVEO | WFCF |
|---|---|---|
| 2022 | +62.2% | -3.7% |
| 2023 | -24.8% | -3.0% |
| 2024 | +3.6% | -2.3% |
| 2025 | +1.6% | -13.2% |
| 2026 | +47.6% | +15.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVEO and WFCF good diversifiers for each other?
Yes. With a correlation of -0.24, CVEO and WFCF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CVEO and WFCF?
The CVEO/WFCF correlation stands at -0.24 on a 3-year window (1 year: -0.31, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is WFCF a good diversifier for CVEO?
Yes. With a correlation of -0.24, CVEO and WFCF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cveo-vs-wfcf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cveo-vs-wfcf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CVEO correlations · WFCF correlations
