ATR vs CSL: Correlation
Measured on weekly returns over the past three years, AptarGroup, Inc. (ATR) and Carlisle Companies Incorporated (CSL) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATR and CSL?
Over the past 3 years, ATR and CSL moved with a correlation of 0.67, which is strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 477.3 %².
In ATR's tracked universe of 19 assets, CSL sits right near the top at #1. Neither side won the trailing year by much: -3.3% against -6.4%. One caveat on sizing: CSL is 1.6 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.
ATR vs CSL: side by side
| ATR (AptarGroup, Inc.) | CSL (Carlisle Companies Incorporated) | |
|---|---|---|
| 1-year return | -3.3% | -6.4% |
| 5-year return | +4.9% | +78.0% |
| Volatility (ann.) | 21.0% | 33.9% |
| Beta vs S&P 500 | 0.53 | 1.10 |
| Max drawdown (3Y) | -35.2% | -37.7% |
| Market cap | $8.4B | $14.3B |
| P/E (trailing) | 24.4 | 20.5 |
| Dividend yield | 1.40% | 1.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATR | CSL |
|---|---|---|
| 2022 | -8.9% | -4.1% |
| 2023 | +13.9% | +34.3% |
| 2024 | +28.6% | +19.1% |
| 2025 | -21.4% | -12.3% |
| 2026 | +10.2% | +13.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATR and CSL good diversifiers for each other?
Only partially. A correlation of 0.67 means ATR and CSL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ATR and CSL?
The ATR/CSL correlation stands at 0.67 on a 3-year window (1 year: 0.64, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is CSL a good diversifier for ATR?
Only partially. A correlation of 0.67 means ATR and CSL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 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/atr-vs-csl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/atr-vs-csl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ATR correlations · CSL correlations
