Clear Channel Outdoor (CCO)
Market Price (1/15/2026): $2.01 | Market Cap: $999.0 MilSector: Communication Services | Industry: Advertising
Clear Channel Outdoor (CCO)
Market Price (1/15/2026): $2.01Market Cap: $999.0 MilSector: Communication ServicesIndustry: Advertising
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 54% | Weak multi-year price returns2Y Excs Rtn is -27%, 3Y Excs Rtn is -3.4% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 616% |
| Megatrend and thematic driversMegatrends include Digital Advertising. Themes include Ad-Tech Platforms. | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3% | |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.7% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.8% | ||
| Key risksCCO key risks include [1] a crushing and potentially existential debt burden that threatens the company's liquidity and ability to service its obligations. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 54% |
| Megatrend and thematic driversMegatrends include Digital Advertising. Themes include Ad-Tech Platforms. |
| Weak multi-year price returns2Y Excs Rtn is -27%, 3Y Excs Rtn is -3.4% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 616% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.7% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.8% |
| Key risksCCO key risks include [1] a crushing and potentially existential debt burden that threatens the company's liquidity and ability to service its obligations. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
1. Record Revenue in America Segment: The company's America segment achieved record revenue of $310.7 million in the fourth quarter of 2024, representing a 4.1% increase, primarily propelled by robust digital and local sales.
2. Strong Digital Revenue Growth: Digital revenue within the America segment saw a 7.6% increase, reaching $122.7 million. This growth was largely attributed to new deployments and the advantageous roadside billboard contract with the New York Metropolitan Transit Authority (MTA).
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Stock Movement Drivers
Fundamental Drivers
The 10.5% change in CCO stock from 10/31/2025 to 1/14/2026 was primarily driven by a 8.4% change in the company's P/S Multiple.| 10312025 | 1142026 | Change | |
|---|---|---|---|
| Stock Price ($) | 1.81 | 2.00 | 10.50% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1538.89 | 1569.34 | 1.98% |
| P/S Multiple | 0.58 | 0.63 | 8.41% |
| Shares Outstanding (Mil) | 496.79 | 497.03 | -0.05% |
| Cumulative Contribution | 10.50% |
Market Drivers
10/31/2025 to 1/14/2026| Return | Correlation | |
|---|---|---|
| CCO | 10.5% | |
| Market (SPY) | 1.2% | 52.8% |
| Sector (XLC) | 1.6% | 45.5% |
Fundamental Drivers
The 88.7% change in CCO stock from 7/31/2025 to 1/14/2026 was primarily driven by a 84.3% change in the company's P/S Multiple.| 7312025 | 1142026 | Change | |
|---|---|---|---|
| Stock Price ($) | 1.06 | 2.00 | 88.68% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1512.57 | 1569.34 | 3.75% |
| P/S Multiple | 0.34 | 0.63 | 84.34% |
| Shares Outstanding (Mil) | 490.33 | 497.03 | -1.37% |
| Cumulative Contribution | 88.64% |
Market Drivers
7/31/2025 to 1/14/2026| Return | Correlation | |
|---|---|---|
| CCO | 88.7% | |
| Market (SPY) | 9.5% | 38.7% |
| Sector (XLC) | 9.0% | 41.4% |
Fundamental Drivers
The 47.1% change in CCO stock from 1/31/2025 to 1/14/2026 was primarily driven by a 54.2% change in the company's Total Revenues ($ Mil).| 1312025 | 1142026 | Change | |
|---|---|---|---|
| Stock Price ($) | 1.36 | 2.00 | 47.06% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1017.67 | 1569.34 | 54.21% |
| P/S Multiple | 0.65 | 0.63 | -3.06% |
| Shares Outstanding (Mil) | 488.95 | 497.03 | -1.65% |
| Cumulative Contribution | 47.02% |
Market Drivers
1/31/2025 to 1/14/2026| Return | Correlation | |
|---|---|---|
| CCO | 47.1% | |
| Market (SPY) | 15.7% | 56.4% |
| Sector (XLC) | 14.9% | 55.7% |
Fundamental Drivers
The 4.7% change in CCO stock from 1/31/2023 to 1/14/2026 was primarily driven by a 35.5% change in the company's P/S Multiple.| 1312023 | 1142026 | Change | |
|---|---|---|---|
| Stock Price ($) | 1.91 | 2.00 | 4.71% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1942.76 | 1569.34 | -19.22% |
| P/S Multiple | 0.47 | 0.63 | 35.47% |
| Shares Outstanding (Mil) | 475.61 | 497.03 | -4.50% |
| Cumulative Contribution | 4.50% |
Market Drivers
1/31/2023 to 1/14/2026| Return | Correlation | |
|---|---|---|
| CCO | 4.7% | |
| Market (SPY) | 76.2% | 42.0% |
| Sector (XLC) | 118.0% | 37.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CCO Return | 101% | -68% | 73% | -25% | 61% | -7% | 25% |
| Peers Return | 31% | -20% | -10% | 17% | 13% | 1% | 26% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 2% | 85% |
Monthly Win Rates [3] | |||||||
| CCO Win Rate | 75% | 33% | 58% | 33% | 58% | 0% | |
| Peers Win Rate | 67% | 42% | 36% | 53% | 50% | 100% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| CCO Max Drawdown | -15% | -71% | -2% | -27% | -38% | -7% | |
| Peers Max Drawdown | -9% | -35% | -36% | -12% | -20% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | 0% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LAMR, OUT, BOC. See CCO Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 1/14/2026 (YTD)
How Low Can It Go
| Event | CCO | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -76.1% | -25.4% |
| % Gain to Breakeven | 318.0% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -86.0% | -33.9% |
| % Gain to Breakeven | 613.3% | 51.3% |
| Time to Breakeven | 590 days | 148 days |
| 2018 Correction | ||
| % Loss | -64.2% | -19.8% |
| % Gain to Breakeven | 179.0% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -91.8% | -56.8% |
| % Gain to Breakeven | 1125.5% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to LAMR, OUT, BOC
In The Past
Clear Channel Outdoor's stock fell -76.1% during the 2022 Inflation Shock from a high on 2/24/2022. A -76.1% loss requires a 318.0% gain to breakeven.
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AI Analysis | Feedback
Here are 1-3 brief analogies for Clear Channel Outdoor (CCO):
- The Google of billboards and public advertising displays. (They sell ad space on physical structures rather than digital platforms.)
- An advertising network similar to a major TV broadcaster, but for physical outdoor spaces. (They provide a widespread platform for companies to reach audiences through visual ads.)
- A real estate company for prime advertising locations. (They own and manage high-visibility physical properties specifically for advertising purposes.)
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- Billboards: Provides advertising space on large outdoor structures, including traditional static and modern digital displays.
- Street Furniture: Offers advertising opportunities on amenities like bus shelters, newsstands, and city information panels in urban environments.
- Transit Displays: Sells ad space on and within various modes of public transport, such as buses, subways, and airport terminals.
- Spectaculars and Wallscapes: Features large, custom-built advertising displays, often integrated into buildings or prominent locations in major cities.
AI Analysis | Feedback
Clear Channel Outdoor Holdings, Inc. (symbol: CCO) operates primarily as a business-to-business (B2B) company, selling advertising space on its outdoor media platforms to other companies.
Due to the nature of the outdoor advertising industry, Clear Channel Outdoor serves a vast and highly diversified client base. The company typically does not have a small number of "major customers" that individually account for a significant portion of its revenues (e.g., 10% or more), nor does it publicly disclose the names of its specific advertisers. Instead, its revenue comes from thousands of businesses and their advertising agencies across numerous industries and geographies.
Therefore, instead of listing specific customer company names, we can describe the categories of businesses that are its primary customers:
- National and International Brands: Large corporations across a wide range of sectors such as automotive, telecommunications, consumer packaged goods (CPG), technology, financial services, and entertainment. These companies utilize Clear Channel Outdoor's platforms for extensive brand awareness campaigns, product launches, and general market presence across multiple regions or nationally.
- Regional and Local Businesses: Companies and organizations targeting specific geographic markets or communities. This category includes local retailers, restaurants, healthcare providers, real estate agencies, educational institutions, event promoters, and small service businesses that use outdoor advertising to reach nearby consumers and build local market share.
- Advertising Agencies: While not the ultimate end-advertiser, these agencies act as intermediaries, purchasing media space on behalf of their diverse client portfolios. They represent a significant portion of Clear Channel Outdoor's direct transactional customers, facilitating campaigns for various businesses, from small local enterprises to large global brands.
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Scott Wells CEO, Clear Channel Outdoor Holdings & Clear Channel Outdoor Americas
Scott Wells joined Clear Channel Outdoor Americas as CEO in March 2015 and currently serves as CEO of Clear Channel Outdoor Holdings, Inc. and Clear Channel Outdoor Americas. Before joining Clear Channel Outdoor, he was an Operating Partner at Bain Capital, a private equity firm that was a part owner of iHeartMedia, Inc. At Bain Capital, he was responsible for leading operational improvement and transformation efforts across various investments, including Apple Leisure Group and CRC Health Group. His career also includes executive positions at AT&T, Bain & Company, and Dell. He also served on the Clear Channel Outdoor Holdings, Inc. Board of Directors for six years prior to his CEO appointment.
David Sailer EVP, Chief Financial Officer, Clear Channel Outdoor Holdings, Inc.
David Sailer is the Executive Vice President and Chief Financial Officer of Clear Channel Outdoor Holdings, Inc., a role he assumed effective March 1, 2024. Prior to this, he served as Executive Vice President, Chief Financial Officer of Clear Channel Outdoor America since 2014, and Head of Corporate Development of CCOH since 2022. Before joining Clear Channel Outdoor in 2013, Mr. Sailer spent thirteen years at NBCUniversal, where his final position was Chief Financial Officer of the NBC News Digital Portfolio. His tenure at NBCUniversal included various leadership roles across news and digital properties. He also previously served as Senior Vice President of FP&A for iHeartMedia.
Lynn Feldman EVP, Chief Legal Officer and Corporate Secretary of Clear Channel Outdoor Holdings, Inc.
Lynn Feldman serves as Executive Vice President, Chief Legal Officer and Corporate Secretary of Clear Channel Outdoor Holdings, Inc., advising the board and senior leadership on major transactions, litigation, and financial strategies. Before her time at Clear Channel Outdoor, Feldman held the position of Executive Vice President and General Counsel for Wyndham Hotel Group, a subsidiary of Wyndham Worldwide Corporation. She also served as Senior Vice President, Deputy General Counsel, and public company Corporate Secretary for the parent company, Wyndham Worldwide. Her earlier career involved corporate roles within Cendant Corporation and as a Corporate Associate at Lowenstein Sandler.
Jason Dilger SVP, Chief Accounting Officer, Clear Channel Outdoor Holdings, Inc.
Jason Dilger is the Senior Vice President, Chief Accounting Officer of Clear Channel Outdoor Holdings, Inc., a position he was appointed to in May 2019. In this role, he leads the company's global accounting functions, including financial and regulatory reporting, internal controls, and corporate and technical accounting. Before joining Clear Channel Outdoor Americas in 2011, Mr. Dilger was the Corporate Controller of Sinclair Broadcast Group from 2006 to 2011. He also held various accounting and finance roles at Municipal Mortgage & Equity from 2004 to 2006, and began his career in public accounting with Arthur Andersen and Ernst & Young.
Nichole Boatsman Chief Technology Officer, Clear Channel Outdoor Americas
Nichole Boatsman holds the title of Chief Technology Officer for Clear Channel Outdoor Americas.
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Key Risks to Clear Channel Outdoor (CCO)
- Substantial Debt Burden and Liquidity/Financing Risks: Clear Channel Outdoor faces a crushing debt load, reported at approximately $5.7 billion as of December 31, 2024, and $5.293 billion as of March 31, 2025. This significant indebtedness is considered its largest existential threat and poses a risk to the company's ability to service its obligations and fund operations. The company requires a substantial amount of cash to manage its debt, and failure to refinance or generate sufficient cash flow could lead to liquidity issues.
- Advertising Shifts to Digital Platforms and Economic Uncertainty: The out-of-home advertising sector faces challenges from a broader shift in advertising budgets towards digital platforms, which are siphoning funds from traditional billboards. Advertisers are increasingly prioritizing real-time targeting offered by digital solutions. Additionally, economic uncertainty, including high inflation and elevated interest rates, could negatively impact overall advertising spend and increase operational costs for CCO.
- Regulatory Risks: The out-of-home advertising industry is heavily regulated, and Clear Channel Outdoor is exposed to risks from changes in laws or their enforcement. This includes new data privacy laws and permit requirements for digital billboards, which can add compliance costs. There are also restrictions on the advertising of certain products that could impact operations.
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The widespread adoption of hybrid and remote work models, leading to a sustained reduction in daily commutes and general urban foot traffic, poses a clear emerging threat. This trend directly impacts the fundamental value proposition of Clear Channel Outdoor's business, as the effectiveness of out-of-home advertising relies heavily on audience presence and movement in public spaces. Fewer people commuting or spending time in high-traffic urban areas diminishes the reach and frequency of exposure to billboards and other outdoor advertising assets, potentially reducing their perceived value to advertisers.
AI Analysis | Feedback
Clear Channel Outdoor (CCO) operates primarily within the Out-of-Home (OOH) advertising market, which encompasses various formats including billboards (both printed and digital), street furniture advertising, and transit/airport advertising. A significant and growing component of this market is Digital Out-of-Home (DOOH) advertising.
The addressable market sizes for Clear Channel Outdoor's main products and services are as follows:
- Global Out-of-Home (OOH) Advertising Market: Approximately USD 31.89 billion in 2024. This market is projected to reach USD 66.93 billion by 2032, growing at a compound annual growth rate (CAGR) of 9.72% over the forecast period (2025-2032). Other estimates for the global OOH market in 2024 range from USD 28.48 billion to USD 33.9 billion.
- U.S. Out-of-Home (OOH) Advertising Market: Approximately USD 9.1 billion in 2024. The U.S. OOH Advertising Market is further projected to reach USD 15.64 billion by 2032, with a CAGR of 8.97% from 2025-2032.
- Global Digital Out-of-Home (DOOH) Advertising Market: (a major segment within OOH advertising) Approximately USD 20.74 billion in 2024. This market is projected to reach USD 39.12 billion by 2030, growing at a CAGR of 10.7% from 2025 to 2030. Other estimates for the global DOOH market in 2024 range from USD 21.5 billion to USD 27.53 billion.
AI Analysis | Feedback
Clear Channel Outdoor (CCO) is poised for future revenue growth over the next two to three years, driven by several strategic initiatives and market trends:
- Digital Out-of-Home (DOOH) Expansion and Technological Advancement: A primary driver of revenue growth for Clear Channel Outdoor is the continued expansion of its digital out-of-home (DOOH) inventory. This includes investing in premium digital displays, scaling programmatic buying capabilities, and leveraging analytics platforms such as RADAR to deliver measurable campaigns. The company's Airports segment, for instance, experienced a 37.4% surge in digital revenue in Q3 2025, highlighting the impact of these digital investments.
- Focused U.S. Market Strategy and Customer Centricity: Clear Channel Outdoor is strategically streamlining its operations to become a U.S.-focused business, having divested several international assets. This pivot allows for the reallocation of capital towards high-growth domestic opportunities. The company's "Focus on Customer Centricity" pillar emphasizes understanding customer needs and aligning them with operational excellence and inventory to drive revenue.
- Enhanced Sales Execution and Growth in Key Channels: The company plans to drive sales execution by targeting growth in key accounts and employing a segmented sales team approach to match market opportunities. Clear Channel Outdoor has observed growth in both national and local sales channels, particularly in major markets like New York and San Francisco. Additionally, efforts are underway to expand its presence in vertical markets such as auto and beverages.
- Strong Performance in the Airports Segment: The Airports segment continues to be a significant contributor to revenue growth. In Q3 2025, this segment demonstrated a remarkable 16.1% year-over-year revenue increase, propelled by strong digital revenue and national sales performance. This segment is identified as a stable, high-margin business, indicating its ongoing potential for future growth.
- Strategic Divestitures and Debt Reduction Enabling Reinvestment: While not a direct revenue driver, the successful divestiture of international businesses and the subsequent reduction in debt are critical enablers for future revenue growth. These actions strengthen the company's balance sheet and improve financial flexibility, allowing for targeted reinvestment into high-return U.S. growth initiatives. This strategy aims to create a "self-reinforcing cash flow flywheel" that combines revenue growth, margin expansion, and cash conversion to support long-term growth.
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Outbound Investments
- Clear Channel Outdoor has undertaken a strategy of divesting international operations, with completed sales totaling $745 million since 2023.
- The company agreed to sell its Europe-North segment for $625 million in January 2025, completing the transaction on March 31, 2025, and intending to use $375 million of the proceeds for debt repayment.
- Clear Channel also agreed to sell its business in Spain for approximately $135 million in September 2025, with plans to use the net proceeds to reduce outstanding debt.
Capital Expenditures
- Total capital expenditures for continuing operations were $122.6 million in 2021, $155.7 million in 2022, and $144.8 million in 2023.
- Capital expenditures are forecast to be between $60 million and $70 million for the full year 2025.
- The primary focus of capital expenditures is the construction of new advertising structures, including the continued deployment and expansion of digital displays, as well as investments in technology capabilities and the RADAR analytics platform.
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Peer Comparisons for Clear Channel Outdoor
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 18.29 |
| Mkt Cap | 2.5 |
| Rev LTM | 1,690 |
| Op Inc LTM | 295 |
| FCF LTM | 102 |
| FCF 3Y Avg | 80 |
| CFO LTM | 201 |
| CFO 3Y Avg | 170 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.1% |
| Rev Chg 3Y Avg | 2.8% |
| Rev Chg Q | 3.8% |
| QoQ Delta Rev Chg LTM | 0.9% |
| Op Mgn LTM | 17.6% |
| Op Mgn 3Y Avg | 17.8% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 18.1% |
| CFO/Rev 3Y Avg | 16.1% |
| FCF/Rev LTM | 5.0% |
| FCF/Rev 3Y Avg | 2.0% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| America | 1,101 | 1,106 | |||
| Airports | 312 | 256 | |||
| Other | 22 | 86 | |||
| Europe-North | 566 | ||||
| Single segment | 2,241 | 1,855 | 2,684 | ||
| Total | 1,434 | 2,014 | 2,241 | 1,855 | 2,684 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| America | 468 | 499 | |||
| Airports | 68 | 61 | |||
| Other operating income, net | 4 | ||||
| Other | 3 | 12 | |||
| Impairment charges | 0 | -23 | |||
| Restructuring and other costs | -1 | -2 | |||
| Corporate expenses | -129 | -162 | |||
| Depreciation and amortization | -197 | -218 | |||
| Europe-North | 104 | ||||
| Other operating expense, net | -2 | ||||
| Total | 217 | 270 |
Price Behavior
| Market Price | $2.00 | |
| Market Cap ($ Bil) | 1.0 | |
| First Trading Date | 11/14/2005 | |
| Distance from 52W High | -11.1% | |
| 50 Days | 200 Days | |
| DMA Price | $1.99 | $1.43 |
| DMA Trend | up | up |
| Distance from DMA | 0.3% | 40.3% |
| 3M | 1YR | |
| Volatility | 61.9% | 59.3% |
| Downside Capture | 140.46 | 162.69 |
| Upside Capture | 317.71 | 167.10 |
| Correlation (SPY) | 42.6% | 55.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.79 | 1.98 | 2.17 | 2.27 | 1.69 | 1.76 |
| Up Beta | 3.62 | 2.34 | 3.03 | 3.77 | 2.04 | 2.01 |
| Down Beta | -1.04 | 1.47 | 1.54 | 1.51 | 1.24 | 1.28 |
| Up Capture | 237% | 339% | 373% | 391% | 281% | 889% |
| Bmk +ve Days | 11 | 23 | 37 | 72 | 143 | 431 |
| Stock +ve Days | 12 | 21 | 29 | 59 | 111 | 323 |
| Down Capture | -4% | 129% | 145% | 137% | 128% | 111% |
| Bmk -ve Days | 11 | 18 | 27 | 55 | 108 | 320 |
| Stock -ve Days | 8 | 16 | 28 | 57 | 114 | 348 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| CCO vs. Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| CCO | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 39.9% | 22.8% | 20.0% | 71.6% | 5.6% | 10.4% | 1.0% |
| Annualized Volatility | 59.0% | 18.4% | 19.3% | 20.0% | 15.3% | 16.7% | 34.5% |
| Sharpe Ratio | 0.78 | 0.98 | 0.82 | 2.59 | 0.15 | 0.42 | 0.11 |
| Correlation With Other Assets | 54.9% | 55.8% | 14.8% | 19.4% | 46.8% | 24.2% | |
ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, Bitcoin = BTCUSD
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Based On 5-Year Data
| CCO vs. Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| CCO | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 3.4% | 13.0% | 14.6% | 18.8% | 11.6% | 5.8% | 21.0% |
| Annualized Volatility | 69.3% | 20.9% | 17.1% | 15.6% | 18.7% | 18.8% | 48.2% |
| Sharpe Ratio | 0.34 | 0.53 | 0.69 | 0.97 | 0.50 | 0.22 | 0.46 |
| Correlation With Other Assets | 43.2% | 44.9% | 11.3% | 15.5% | 40.3% | 27.3% | |
ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| CCO vs. Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| CCO | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -4.2% | 12.9% | 15.1% | 15.1% | 7.6% | 5.4% | 71.7% |
| Annualized Volatility | 70.1% | 22.5% | 18.0% | 14.8% | 17.6% | 20.8% | 55.7% |
| Sharpe Ratio | 0.24 | 0.53 | 0.72 | 0.84 | 0.35 | 0.23 | 0.92 |
| Correlation With Other Assets | 41.3% | 42.2% | 5.3% | 18.1% | 39.8% | 16.4% | |
ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/06/2025 | 10-Q (09/30/2025) |
| 06/30/2025 | 08/05/2025 | 10-Q (06/30/2025) |
| 03/31/2025 | 05/01/2025 | 10-Q (03/31/2025) |
| 12/31/2024 | 02/24/2025 | 10-K (12/31/2024) |
| 09/30/2024 | 10/31/2024 | 10-Q (09/30/2024) |
| 06/30/2024 | 08/07/2024 | 10-Q (06/30/2024) |
| 03/31/2024 | 05/09/2024 | 10-Q (03/31/2024) |
| 12/31/2023 | 02/26/2024 | 10-K (12/31/2023) |
| 09/30/2023 | 11/08/2023 | 10-Q (09/30/2023) |
| 06/30/2023 | 08/07/2023 | 10-Q (06/30/2023) |
| 03/31/2023 | 05/09/2023 | 10-Q (03/31/2023) |
| 12/31/2022 | 02/28/2023 | 10-K (12/31/2022) |
| 09/30/2022 | 11/08/2022 | 10-Q (09/30/2022) |
| 06/30/2022 | 08/09/2022 | 10-Q (06/30/2022) |
| 03/31/2022 | 05/10/2022 | 10-Q (03/31/2022) |
| 12/31/2021 | 02/24/2022 | 10-K (12/31/2021) |
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