PRIM vs SPXC: Correlation
Measured on weekly returns over the past three years, Primoris Services Corporation (PRIM) and SPX Technologies, Inc. (SPXC) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRIM and SPXC?
Over the past 3 years, PRIM and SPXC moved with a correlation of 0.55, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.37 versus 0.55 over 3 years. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 934.6 %².
In PRIM's tracked universe of 20 assets, SPXC sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months SPXC outperformed by 40.9 percentage points (-34.2% for PRIM against +6.7% for SPXC). Note the risk asymmetry: PRIM runs 1.5 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.
PRIM vs SPXC: side by side
| PRIM (Primoris Services Corporation) | SPXC (SPX Technologies, Inc.) | |
|---|---|---|
| 1-year return | -34.2% | +6.7% |
| 5-year return | +212.4% | +226.0% |
| Volatility (ann.) | 50.6% | 33.7% |
| Beta vs S&P 500 | 1.49 | 1.20 |
| Max drawdown (3Y) | -63.1% | -33.5% |
| Market cap | $4.2B | $10.3B |
| P/E (trailing) | 30.7 | 36.1 |
| Dividend yield | 0.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PRIM | SPXC |
|---|---|---|
| 2022 | -7.5% | +10.0% |
| 2023 | +52.6% | +53.9% |
| 2024 | +131.1% | +44.1% |
| 2025 | +63.1% | +37.5% |
| 2026 | -37.9% | +2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRIM and SPXC good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PRIM and SPXC?
As of 2026-08-27, the correlation of weekly returns between PRIM and SPXC is 0.55 over 3 years, 0.37 over 1 year and 0.51 over 5 years.
Is SPXC a good diversifier for PRIM?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 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/prim-vs-spxc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/prim-vs-spxc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PRIM correlations · SPXC correlations
