CET vs GIL: Correlation
Measured on weekly returns over the past three years, Central Securities Corporation (CET) and Gildan Activewear, Inc. Class A Sub. Vot. (GIL) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CET and GIL?
Across a 3-year window, the weekly returns of CET and GIL correlate at 0.57, moderate. The link has loosened recently: the 1-year correlation (0.46) runs below the 3-year figure (0.57). Stretching to 5 years gives 0.57, with an annualized covariance of 231.3 %².
Among the 38 assets we track against CET, GIL ranks #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CET outperformed by 18.3 percentage points (+15.7% for CET against -2.6% for GIL). One caveat on sizing: GIL is 2.5 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.
CET vs GIL: side by side
| CET (Central Securities Corporation) | GIL (Gildan Activewear, Inc. Class A Sub. Vot.) | |
|---|---|---|
| 1-year return | +15.7% | -2.6% |
| 5-year return | +73.3% | +52.0% |
| Volatility (ann.) | 12.8% | 31.8% |
| Beta vs S&P 500 | 0.78 | 1.02 |
| Max drawdown (3Y) | -15.4% | -31.3% |
| Market cap | – | $9.9B |
| P/E (trailing) | 7.3 | 41.6 |
| Dividend yield | 5.03% | 1.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CET | GIL |
|---|---|---|
| 2022 | -19.7% | -33.9% |
| 2023 | +19.2% | +23.6% |
| 2024 | +26.8% | +45.3% |
| 2025 | +17.2% | +34.5% |
| 2026 | +8.3% | -13.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CET and GIL good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CET and GIL?
As of 2026-08-27, the correlation of weekly returns between CET and GIL is 0.57 over 3 years, 0.46 over 1 year and 0.57 over 5 years.
Is GIL a good diversifier for CET?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 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.
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Related comparisons
Hubs: CET correlations · GIL correlations
