CASY vs LUNG: Correlation
Measured on weekly returns over the past three years, Casey's (CASY) and Pulmonx Corporation (LUNG) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CASY and LUNG?
Over the past 3 years, CASY and LUNG moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.33 lands near the 3-year figure. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -597.9 %².
By 3-year correlation, LUNG places #25 of the 30 assets tracked against CASY. Their recent paths diverged sharply: over the last 12 months CASY outperformed by 23.6 percentage points (+53.7% for CASY against +30.1% for LUNG). Risk is not evenly split, since LUNG carries 3.1 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.
CASY vs LUNG: side by side
| CASY (Casey's) | LUNG (Pulmonx Corporation) | |
|---|---|---|
| 1-year return | +53.7% | +30.1% |
| 5-year return | +284.3% | -93.8% |
| Volatility (ann.) | 28.9% | 88.5% |
| Beta vs S&P 500 | 0.39 | 1.56 |
| Max drawdown (3Y) | -16.6% | -92.0% |
| Market cap | $28.2B | $0.1B |
| P/E (trailing) | 42.2 | – |
| Dividend yield | 0.28% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | CASY | LUNG |
|---|---|---|
| 2022 | +14.5% | -73.7% |
| 2023 | +23.3% | +51.2% |
| 2024 | +45.0% | -46.7% |
| 2025 | +40.1% | -67.5% |
| 2026 | +38.4% | +9.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CASY and LUNG good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between CASY and LUNG?
The CASY/LUNG correlation stands at -0.23 on a 3-year window (1 year: -0.33, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is LUNG a good diversifier for CASY?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CASY correlations · LUNG correlations
