CAPS vs STN: Correlation
How closely do Capstone Holding Corp. (CAPS) and Stantec Inc (STN) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAPS and STN?
On 3 years of weekly data the CAPS/STN correlation comes out at 0.29, weak. The relationship has been stable: the 1-year correlation (0.29) sits close to the 3-year figure. The 5-year figure is 0.18, and annualized covariance runs at 563.0 %².
Within CAPS's tracked universe of 10 assets, STN comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months STN outperformed by 53.6 percentage points (-85.0% for CAPS against -31.4% for STN). Note the risk asymmetry: CAPS runs 3.4 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.
CAPS vs STN: side by side
| CAPS (Capstone Holding Corp.) | STN (Stantec Inc) | |
|---|---|---|
| 1-year return | -85.0% | -31.4% |
| 5-year return | -99.2% | +62.2% |
| Volatility (ann.) | 81.8% | 24.1% |
| Beta vs S&P 500 | 0.82 | 0.70 |
| Max drawdown (3Y) | -97.5% | -41.0% |
| Market cap | – | $8.4B |
| P/E (trailing) | – | 23.6 |
| Dividend yield | 0.00% | 1.25% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAPS | STN |
|---|---|---|
| 2022 | +114.5% | -13.8% |
| 2023 | -85.9% | +68.8% |
| 2024 | -56.9% | -1.4% |
| 2025 | -67.4% | +20.7% |
| 2026 | -74.7% | -20.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAPS and STN good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CAPS and STN?
The CAPS/STN correlation stands at 0.29 on a 3-year window (1 year: 0.29, 5 years: 0.18), computed from weekly returns as of 2026-08-27.
Is STN a good diversifier for CAPS?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/caps-vs-stn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/caps-vs-stn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CAPS correlations · STN correlations
