CENX vs CLF: Correlation
Century Aluminum Company (CENX) and Cleveland-Cliffs Inc. (CLF) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CENX and CLF?
Across a 3-year window, the weekly returns of CENX and CLF correlate at 0.50, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.50 over 3. Stretching to 5 years gives 0.57, with an annualized covariance of 2085.1 %².
Within CENX's tracked universe of 12 assets, CLF comes in at #6 by 3-year correlation. The last year tells two different stories: CENX led by 92.6 percentage points, +102.2% for CENX against +9.6% for CLF.
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.
CENX vs CLF: side by side
| CENX (Century Aluminum Company) | CLF (Cleveland-Cliffs Inc.) | |
|---|---|---|
| 1-year return | +102.2% | +9.6% |
| 5-year return | +270.4% | -50.7% |
| Volatility (ann.) | 67.1% | 61.7% |
| Beta vs S&P 500 | 2.12 | 1.74 |
| Max drawdown (3Y) | -42.8% | -74.5% |
| Market cap | $4.5B | $6.7B |
| P/E (trailing) | 7.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CENX | CLF |
|---|---|---|
| 2022 | -50.6% | -26.0% |
| 2023 | +48.4% | +26.8% |
| 2024 | +50.1% | -54.0% |
| 2025 | +115.0% | +41.3% |
| 2026 | +17.1% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CENX and CLF good diversifiers for each other?
Only partially. A correlation of 0.50 means CENX and CLF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CENX and CLF?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.41 over the last year and 0.57 over 5 years.
Is CLF a good diversifier for CENX?
Only partially. A correlation of 0.50 means CENX and CLF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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/cenx-vs-clf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cenx-vs-clf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CENX correlations · CLF correlations
