CE vs DOW: Correlation
How closely do Celanese Corporation (CE) and Dow Inc. (DOW) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CE and DOW?
Over the past 3 years, CE and DOW moved with a correlation of 0.61, which is strong. Recent behaviour matches the longer record: 0.71 over 1 year against 0.61 over 3. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 1066.2 %².
DOW is one of the assets that tracks CE most closely: it ranks #1 out of the 14 assets we track against CE. The last year tells two different stories: DOW led by 33.6 percentage points, -4.6% for CE against +29.0% for DOW.
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.
CE vs DOW: side by side
| CE (Celanese Corporation) | DOW (Dow Inc.) | |
|---|---|---|
| 1-year return | -4.6% | +29.0% |
| 5-year return | -69.7% | -38.4% |
| Volatility (ann.) | 49.7% | 35.2% |
| Beta vs S&P 500 | 0.79 | 0.62 |
| Max drawdown (3Y) | -79.0% | -62.2% |
| Market cap | $4.9B | $21.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.27% | 4.62% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | CE | DOW |
|---|---|---|
| 2022 | -37.8% | -6.6% |
| 2023 | +55.7% | +14.7% |
| 2024 | -54.6% | -22.8% |
| 2025 | -38.8% | -37.4% |
| 2026 | +6.3% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CE and DOW good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CE and DOW?
The CE/DOW correlation stands at 0.61 on a 3-year window (1 year: 0.71, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is DOW a good diversifier for CE?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 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/ce-vs-dow.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ce-vs-dow/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CE correlations · DOW correlations
