CBT vs TRNS: Correlation
How closely do Cabot Corporation (CBT) and Transcat, Inc. (TRNS) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBT and TRNS?
Over the past 3 years, CBT and TRNS moved with a correlation of 0.45, which is moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.45 over 3. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 641.2 %².
Among the 15 assets we track against CBT, TRNS ranks #8 by 3-year correlation. Twelve-month performance is nearly a tie, at +5.7% for CBT and +7.7% for TRNS. Note the risk asymmetry: TRNS runs 1.8 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.
CBT vs TRNS: side by side
| CBT (Cabot Corporation) | TRNS (Transcat, Inc.) | |
|---|---|---|
| 1-year return | +5.7% | +7.7% |
| 5-year return | +73.1% | +35.0% |
| Volatility (ann.) | 28.5% | 50.0% |
| Beta vs S&P 500 | 0.84 | 1.03 |
| Max drawdown (3Y) | -48.8% | -63.9% |
| Market cap | $4.4B | $0.8B |
| P/E (trailing) | 23.7 | 249.6 |
| Dividend yield | 2.16% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBT | TRNS |
|---|---|---|
| 2022 | +21.4% | -23.3% |
| 2023 | +27.6% | +54.3% |
| 2024 | +11.3% | -3.3% |
| 2025 | -25.7% | -46.3% |
| 2026 | +29.1% | +58.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBT and TRNS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CBT and TRNS?
The CBT/TRNS correlation stands at 0.45 on a 3-year window (1 year: 0.51, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is TRNS a good diversifier for CBT?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/cbt-vs-trns.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbt-vs-trns/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBT correlations · TRNS correlations
