CXW vs TH: Correlation
How closely do CoreCivic, Inc. (CXW) and Target Hospitality Corp. (TH) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CXW and TH?
On 3 years of weekly data the CXW/TH correlation comes out at 0.33, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.48 versus 0.33 over 3 years. The 5-year figure is 0.24, and annualized covariance runs at 1124.9 %².
By 3-year correlation, TH places #6 of the 12 assets tracked against CXW. Correlation aside, the last 12 months split them widely, with TH ahead by 49.0 points (+64.5% versus +113.5%).
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.
CXW vs TH: side by side
| CXW (CoreCivic, Inc.) | TH (Target Hospitality Corp.) | |
|---|---|---|
| 1-year return | +64.5% | +113.5% |
| 5-year return | +251.2% | +383.7% |
| Volatility (ann.) | 53.5% | 63.3% |
| Beta vs S&P 500 | 0.94 | 0.47 |
| Max drawdown (3Y) | -32.6% | -69.1% |
| Market cap | $3.3B | $1.9B |
| P/E (trailing) | 27.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CXW | TH |
|---|---|---|
| 2022 | +15.9% | +325.3% |
| 2023 | +25.7% | -35.7% |
| 2024 | +49.6% | -0.7% |
| 2025 | -12.1% | -17.1% |
| 2026 | +76.8% | +136.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CXW and TH good diversifiers for each other?
Reasonably. At 0.33, CXW and TH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CXW and TH?
As of 2026-08-27, the correlation of weekly returns between CXW and TH is 0.33 over 3 years, 0.48 over 1 year and 0.24 over 5 years.
Is TH a good diversifier for CXW?
Reasonably. At 0.33, CXW and TH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 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/cxw-vs-th.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cxw-vs-th/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CXW correlations · TH correlations
