CAG vs CLS: Correlation
How closely do ConAgra Brands, Inc. (CAG) and Celestica, Inc. (CLS) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAG and CLS?
Across a 3-year window, the weekly returns of CAG and CLS correlate at -0.29, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.29 over 3. Stretching to 5 years gives -0.18, with an annualized covariance of -430.2 %².
Among the 34 assets we track against CAG, CLS sits near the bottom by co-movement, at rank #32. Correlation aside, the last 12 months split them widely, with CLS ahead by 66.8 points (-9.8% versus +57.0%). Note the risk asymmetry: CLS runs 2.5 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.
CAG vs CLS: side by side
| CAG (ConAgra Brands, Inc.) | CLS (Celestica, Inc.) | |
|---|---|---|
| 1-year return | -9.8% | +57.0% |
| 5-year return | -36.6% | +3251.4% |
| Volatility (ann.) | 24.2% | 60.6% |
| Beta vs S&P 500 | -0.05 | 2.49 |
| Max drawdown (3Y) | -56.7% | -54.0% |
| Market cap | $7.7B | $40.0B |
| P/E (trailing) | – | 32.0 |
| Dividend yield | 8.65% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAG | CLS |
|---|---|---|
| 2022 | +17.5% | +1.3% |
| 2023 | -22.8% | +159.8% |
| 2024 | +1.5% | +215.2% |
| 2025 | -33.3% | +220.3% |
| 2026 | -2.1% | +7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAG and CLS good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CAG and CLS?
As of 2026-08-27, the correlation of weekly returns between CAG and CLS is -0.29 over 3 years, -0.29 over 1 year and -0.18 over 5 years.
Is CLS a good diversifier for CAG?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 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/cag-vs-cls.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cag-vs-cls/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CAG correlations · CLS correlations
