CHGG vs CLF: Correlation
Chegg, Inc. (CHGG) and Cleveland-Cliffs Inc. (CLF) 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 CHGG and CLF?
Across a 3-year window, the weekly returns of CHGG and CLF correlate at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.39) sits close to the 3-year figure. Stretching to 5 years gives 0.42, with an annualized covariance of 2853.6 %².
Few assets follow CHGG as closely as CLF, which ranks #1 of 10 tracked partners. Correlation aside, the last 12 months split them widely, with CLF ahead by 48.9 points (-39.3% versus +9.6%). Note the risk asymmetry: CHGG runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CHGG vs CLF: side by side
| CHGG (Chegg, Inc.) | CLF (Cleveland-Cliffs Inc.) | |
|---|---|---|
| 1-year return | -39.3% | +9.6% |
| 5-year return | -99.0% | -50.7% |
| Volatility (ann.) | 97.4% | 61.7% |
| Beta vs S&P 500 | 1.77 | 1.74 |
| Max drawdown (3Y) | -96.1% | -74.5% |
| Market cap | $0.1B | $6.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHGG | CLF |
|---|---|---|
| 2022 | -17.7% | -26.0% |
| 2023 | -55.0% | +26.8% |
| 2024 | -85.8% | -54.0% |
| 2025 | -42.2% | +41.3% |
| 2026 | -13.8% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHGG and CLF 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 CHGG and CLF?
As of 2026-08-27, the correlation of weekly returns between CHGG and CLF is 0.48 over 3 years, 0.39 over 1 year and 0.42 over 5 years.
Is CLF a good diversifier for CHGG?
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
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Related comparisons
Hubs: CHGG correlations · CLF correlations
