CDW vs CLS: Correlation
CDW Corporation (CDW) and Celestica, Inc. (CLS) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDW and CLS?
Over the past 3 years, CDW and CLS moved with a correlation of 0.48, which is moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 996.5 %².
Among the 40 assets we track against CDW, CLS ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CLS outperformed by 65.0 percentage points (-8.0% for CDW against +57.0% for CLS). Risk is not evenly split, since CLS carries 1.8 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.
CDW vs CLS: side by side
| CDW (CDW Corporation) | CLS (Celestica, Inc.) | |
|---|---|---|
| 1-year return | -8.0% | +57.0% |
| 5-year return | -20.5% | +3251.4% |
| Volatility (ann.) | 34.2% | 60.6% |
| Beta vs S&P 500 | 1.01 | 2.49 |
| Max drawdown (3Y) | -60.4% | -54.0% |
| Market cap | $18.6B | $40.0B |
| P/E (trailing) | 17.0 | 32.0 |
| Dividend yield | 1.78% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CDW | CLS |
|---|---|---|
| 2022 | -11.7% | +1.3% |
| 2023 | +28.8% | +159.8% |
| 2024 | -22.6% | +215.2% |
| 2025 | -20.6% | +220.3% |
| 2026 | +11.1% | +7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDW and CLS good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CDW and CLS?
The CDW/CLS correlation stands at 0.48 on a 3-year window (1 year: 0.49, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is CLS a good diversifier for CDW?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/cdw-vs-cls.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cdw-vs-cls/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CDW correlations · CLS correlations
