CELC vs ZWS: Correlation
Celcuity Inc. (CELC) and Zurn Elkay Water Solutions Corporation (ZWS) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CELC and ZWS?
Across a 3-year window, the weekly returns of CELC and ZWS correlate at 0.39, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.03 versus 0.39 over 3 years. Stretching to 5 years gives 0.25, with an annualized covariance of 1341.9 %².
Within CELC's tracked universe of 38 assets, ZWS comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CELC ahead by 81.3 points (+86.6% versus +5.3%). One caveat on sizing: CELC is 4.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CELC vs ZWS: side by side
| CELC (Celcuity Inc.) | ZWS (Zurn Elkay Water Solutions Corporation) | |
|---|---|---|
| 1-year return | +86.6% | +5.3% |
| 5-year return | +324.8% | +71.6% |
| Volatility (ann.) | 124.5% | 27.7% |
| Beta vs S&P 500 | 0.76 | 0.89 |
| Max drawdown (3Y) | -62.0% | -30.2% |
| Market cap | $4.6B | $8.1B |
| P/E (trailing) | – | 30.5 |
| Dividend yield | 0.00% | 0.85% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CELC | ZWS |
|---|---|---|
| 2022 | +6.2% | -41.5% |
| 2023 | +4.0% | +40.6% |
| 2024 | -10.2% | +28.1% |
| 2025 | +662.0% | +25.8% |
| 2026 | -6.5% | +5.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CELC and ZWS good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CELC and ZWS?
The CELC/ZWS correlation stands at 0.39 on a 3-year window (1 year: -0.03, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is ZWS a good diversifier for CELC?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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/celc-vs-zws.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/celc-vs-zws/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CELC correlations · ZWS correlations
