CBOE vs. ALL

Last updated Jun 9, 2026

CBOE (Cboe Global Markets, Inc.) and ALL (The Allstate Corporation) are both stocks. Both are in the Financial Services sector — CBOE in Financial Data & Stock Exchanges, ALL in Insurance - Property & Casualty. Over the past 10 years, CBOE returned 17.38%/yr vs 14.79%/yr for ALL. At a 0.28 correlation, their price movements are largely independent.

Performance

CBOE vs. ALL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cboe Global Markets, Inc. (CBOE) and The Allstate Corporation (ALL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBOE achieves a 12.19% return, which is significantly higher than ALL's 4.37% return. Over the past 10 years, CBOE has outperformed ALL with an annualized return of 17.38%, while ALL has yielded a comparatively lower 14.79% annualized return.

CBOE

• 1D: -0.56%
• 1M: -19.41%
• YTD: 12.19%
• 6M: 11.21%
• 1Y: 27.25%
• 3Y*: 27.99%
• 5Y*: 21.30%
• 10Y*: 17.38%

ALL

• 1D: -2.71%
• 1M: 1.41%
• YTD: 4.37%
• 6M: 8.15%
• 1Y: 5.93%
• 3Y*: 27.04%
• 5Y*: 12.75%
• 10Y*: 14.79%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CBOE vs. ALL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CBOE Cboe Global Markets, Inc.	12.19%	29.96%	10.74%	44.37%	-2.16%	42.23%	-21.17%	24.16%	-20.60%	70.49%
ALL The Allstate Corporation	4.37%	10.09%	40.61%	6.37%	18.37%	9.86%	-0.12%	38.82%	-19.52%	43.64%

Correlation

The correlation between CBOE and ALL is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jun 15, 2010	0.28

The correlation between CBOE and ALL shifts across timeframes, from 0.16 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CBOE : $29.43B ALL : $56.46B
EPS CBOE : $11.77 ALL : $45.76
PE Ratio CBOE : 23.83 ALL : 4.70
PEG Ratio CBOE : 0.44 ALL : 0.13
PS Ratio CBOE : 6.14 ALL : 0.85
PB Ratio CBOE : 5.48 ALL : 1.91
Total Revenue (TTM) CBOE : $4.79B ALL : $67.14B
Gross Profit (TTM) CBOE : $2.50B ALL : $19.06B
EBITDA (TTM) CBOE : $1.87B ALL : $13.09B

Return for Risk

CBOE vs. ALL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CBOE

CBOE Risk / Return Rank: 69
CBOE Sharpe Ratio Rank: 73
CBOE Sortino Ratio Rank: 66
CBOE Omega Ratio Rank: 67
CBOE Calmar Ratio Rank: 65
CBOE Martin Ratio Rank: 78

ALL

ALL Risk / Return Rank: 49
ALL Sharpe Ratio Rank: 51
ALL Sortino Ratio Rank: 44
ALL Omega Ratio Rank: 43
ALL Calmar Ratio Rank: 54
ALL Martin Ratio Rank: 56

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CBOE vs. ALL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cboe Global Markets, Inc. (CBOE) and The Allstate Corporation (ALL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CBOE	ALL	Difference
Sharpe ratio: Return per unit of total volatility	1.01	0.25	+0.76
Sortino ratio: Return per unit of downside risk	1.45	0.51	+0.94
Omega ratio: Gain probability vs. loss probability	1.20	1.06	+0.14
Calmar ratio: Return relative to maximum drawdown	1.11	0.52	+0.59
Martin ratio: Return relative to average drawdown	5.44	1.33	+4.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBOE vs. ALL - Sharpe Ratio Comparison

The current CBOE Sharpe Ratio is 1.01, which is higher than the ALL Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of CBOE and ALL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CBOE	ALL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	0.25	+0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.50	+0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.60	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.37	+0.29

Drawdowns

CBOE vs. ALL - Drawdown Comparison

The maximum CBOE drawdown since its inception was -43.23%, smaller than the maximum ALL drawdown of -77.03%. Use the drawdown chart below to compare losses from any high point for CBOE and ALL.

Drawdown Indicators

	CBOE	ALL	Difference
Max Drawdown Largest peak-to-trough decline	-43.23%	-77.03%	+33.80%
Max Drawdown (1Y) Largest decline over 1 year	-24.69%	-11.48%	-13.21%
Max Drawdown (3Y) Largest decline over 3 years	-24.69%	-14.11%	-10.58%
Max Drawdown (5Y) Largest decline over 5 years	-24.69%	-27.35%	+2.66%
Max Drawdown (10Y) Largest decline over 10 years	-43.23%	-41.39%	-1.84%
Current Drawdown Current decline from peak	-23.40%	-3.75%	-19.65%
Average Drawdown Average peak-to-trough decline	-11.40%	-16.44%	+5.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.02%	4.81%	+0.21%

Volatility

CBOE vs. ALL - Volatility Comparison

Cboe Global Markets, Inc. (CBOE) has a higher volatility of 15.60% compared to The Allstate Corporation (ALL) at 8.09%. This indicates that CBOE's price experiences larger fluctuations and is considered to be riskier than ALL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBOE	ALL	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.60%	8.09%	+7.51%
Volatility (6M) Calculated over the trailing 6-month period	23.74%	17.07%	+6.67%
Volatility (1Y) Calculated over the trailing 1-year period	27.02%	23.82%	+3.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.17%	25.44%	-2.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.32%	24.94%	+0.38%

Dividends

CBOE vs. ALL - Dividend Comparison

CBOE's dividend yield for the trailing twelve months is around 1.03%, less than ALL's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALL The Allstate Corporation	2.40%	1.92%	1.91%	2.54%	2.51%	2.75%	1.96%	1.78%	2.23%	1.41%	1.78%	1.93%
CBOE Cboe Global Markets, Inc.	1.03%	1.08%	1.21%	1.18%	1.56%	1.38%	1.68%	1.12%	1.19%	0.83%	1.30%	1.36%

Financials

CBOE vs. ALL - Profitability Comparison

The chart below illustrates the profitability comparison between Cboe Global Markets, Inc. and The Allstate Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CBOE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cboe Global Markets, Inc. reported a gross profit of 669.90M and revenue of 1.27B. Therefore, the gross margin over that period was 52.6%.

ALL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Allstate Corporation reported a gross profit of 0.00 and revenue of 16.94B. Therefore, the gross margin over that period was 0.0%.

CBOE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cboe Global Markets, Inc. reported an operating income of 505.60M and revenue of 1.27B, resulting in an operating margin of 39.7%.

ALL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Allstate Corporation reported an operating income of 0.00 and revenue of 16.94B, resulting in an operating margin of 0.0%.

CBOE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cboe Global Markets, Inc. reported a net income of 385.70M and revenue of 1.27B, resulting in a net margin of 30.3%.

ALL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Allstate Corporation reported a net income of 2.46B and revenue of 16.94B, resulting in a net margin of 14.5%.

Frequently Asked Questions

Can I hold both CBOE and ALL in my portfolio?

CBOE and ALL have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CBOE or ALL?

CBOE has higher volatility (15.60%) compared to ALL (8.09%). In terms of maximum drawdown, CBOE dropped -43.23% vs ALL's -77.03%.

Which has better risk-adjusted returns?

CBOE currently has the higher Sharpe Ratio (1.01 vs 0.25), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.