BCE vs CLS: Correlation
BCE, Inc. (BCE) and Celestica, Inc. (CLS) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCE and CLS?
On 3 years of weekly data the BCE/CLS correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.18) runs above the 3-year figure (-0.28). The 5-year figure is -0.16, and annualized covariance runs at -360.8 %².
Among the 27 assets we track against BCE, CLS sits near the bottom by co-movement, at rank #26. The last year tells two different stories: CLS led by 58.4 percentage points, -1.4% for BCE against +57.0% for CLS. Note the risk asymmetry: CLS runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BCE vs CLS: side by side
| BCE (BCE, Inc.) | CLS (Celestica, Inc.) | |
|---|---|---|
| 1-year return | -1.4% | +57.0% |
| 5-year return | -36.8% | +3251.4% |
| Volatility (ann.) | 21.5% | 60.6% |
| Beta vs S&P 500 | -0.06 | 2.49 |
| Max drawdown (3Y) | -43.5% | -54.0% |
| Market cap | $21.8B | $40.0B |
| P/E (trailing) | 4.8 | 32.0 |
| Dividend yield | 7.45% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCE | CLS |
|---|---|---|
| 2022 | -10.6% | +1.3% |
| 2023 | -4.2% | +159.8% |
| 2024 | -35.5% | +215.2% |
| 2025 | +10.2% | +220.3% |
| 2026 | +0.8% | +7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCE and CLS good diversifiers for each other?
Yes. With a correlation of -0.28, BCE and CLS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BCE and CLS?
As of 2026-08-27, the correlation of weekly returns between BCE and CLS is -0.28 over 3 years, -0.18 over 1 year and -0.16 over 5 years.
Is CLS a good diversifier for BCE?
Yes. With a correlation of -0.28, BCE and CLS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/bce-vs-cls.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bce-vs-cls/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BCE correlations · CLS correlations
