CXDO vs PEN: Correlation
How closely do Crexendo, Inc. (CXDO) and Penumbra, Inc. (PEN) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CXDO and PEN?
Over the past 3 years, CXDO and PEN moved with a correlation of 0.36, which is moderate. The link has loosened recently: the 1-year correlation (0.03) runs below the 3-year figure (0.36). Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 880.1 %².
PEN is close to the least connected end of CXDO's tracked universe, ranking #10 of 13. Correlation aside, the last 12 months split them widely, with PEN ahead by 17.7 points (+2.6% versus +20.3%). One caveat on sizing: CXDO is 1.9 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.
CXDO vs PEN: side by side
| CXDO (Crexendo, Inc.) | PEN (Penumbra, Inc.) | |
|---|---|---|
| 1-year return | +2.6% | +20.3% |
| 5-year return | +9.7% | +18.7% |
| Volatility (ann.) | 67.1% | 36.0% |
| Beta vs S&P 500 | 1.77 | 0.30 |
| Max drawdown (3Y) | -60.4% | -45.5% |
| Market cap | $0.2B | $12.6B |
| P/E (trailing) | 49.4 | 79.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CXDO | PEN |
|---|---|---|
| 2022 | -61.7% | -22.6% |
| 2023 | +156.1% | +13.1% |
| 2024 | +7.8% | -5.6% |
| 2025 | +23.7% | +30.9% |
| 2026 | -0.8% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CXDO and PEN good diversifiers for each other?
Reasonably. At 0.36, CXDO and PEN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CXDO and PEN?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.03 over the last year and 0.25 over 5 years.
Is PEN a good diversifier for CXDO?
Reasonably. At 0.36, CXDO and PEN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cxdo-vs-pen.json
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Related comparisons
Hubs: CXDO correlations · PEN correlations
