ALTO vs CLX: Correlation
Measured on weekly returns over the past three years, Alto Ingredients, Inc. (ALTO) and Clorox (CLX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALTO and CLX?
Over the past 3 years, ALTO and CLX moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.21). Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -483.2 %².
Among the 15 assets we track against ALTO, CLX ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ALTO outperformed by 298.3 percentage points (+289.5% for ALTO against -8.8% for CLX). One caveat on sizing: ALTO is 3.8 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.
ALTO vs CLX: side by side
| ALTO (Alto Ingredients, Inc.) | CLX (Clorox) | |
|---|---|---|
| 1-year return | +289.5% | -8.8% |
| 5-year return | -16.4% | -26.0% |
| Volatility (ann.) | 93.7% | 24.4% |
| Beta vs S&P 500 | 0.15 | 0.39 |
| Max drawdown (3Y) | -84.1% | -46.1% |
| Market cap | $0.3B | $12.5B |
| P/E (trailing) | 6.1 | 21.7 |
| Dividend yield | 0.00% | 4.77% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | ALTO | CLX |
|---|---|---|
| 2022 | -40.1% | -17.0% |
| 2023 | -7.6% | +5.0% |
| 2024 | -41.4% | +17.7% |
| 2025 | +84.6% | -35.6% |
| 2026 | +42.0% | +6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALTO and CLX good diversifiers for each other?
Yes. With a correlation of -0.21, ALTO and CLX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALTO and CLX?
The ALTO/CLX correlation stands at -0.21 on a 3-year window (1 year: -0.37, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is CLX a good diversifier for ALTO?
Yes. With a correlation of -0.21, ALTO and CLX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/alto-vs-clx.json
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Related comparisons
Hubs: ALTO correlations · CLX correlations
