AWK vs CLS: Correlation
Measured on weekly returns over the past three years, American Water Works (AWK) and Celestica, Inc. (CLS) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWK and CLS?
On 3 years of weekly data the AWK/CLS correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.41 versus -0.26 over 3 years. The 5-year figure is -0.06, and annualized covariance runs at -328.3 %².
By 3-year correlation, CLS places #41 of the 49 assets tracked against AWK. The last year tells two different stories: CLS led by 60.0 percentage points, -3.0% for AWK against +57.0% for CLS. Risk is not evenly split, since CLS carries 2.9 times the volatility of the other side.
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.
AWK vs CLS: side by side
| AWK (American Water Works) | CLS (Celestica, Inc.) | |
|---|---|---|
| 1-year return | -3.0% | +57.0% |
| 5-year return | -16.6% | +3251.4% |
| Volatility (ann.) | 20.7% | 60.6% |
| Beta vs S&P 500 | -0.11 | 2.49 |
| Max drawdown (3Y) | -18.8% | -54.0% |
| Market cap | $27.2B | $40.0B |
| P/E (trailing) | 23.7 | 32.0 |
| Dividend yield | 2.46% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AWK | CLS |
|---|---|---|
| 2022 | -17.9% | +1.3% |
| 2023 | -11.7% | +159.8% |
| 2024 | -3.5% | +215.2% |
| 2025 | +7.4% | +220.3% |
| 2026 | +6.9% | +7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWK and CLS good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AWK and CLS?
The AWK/CLS correlation stands at -0.26 on a 3-year window (1 year: -0.41, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is CLS a good diversifier for AWK?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 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/awk-vs-cls.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/awk-vs-cls/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AWK correlations · CLS correlations
