CLH vs HWKN: Correlation
Measured on weekly returns over the past three years, Clean Harbors, Inc. (CLH) and Hawkins, Inc. (HWKN) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLH and HWKN?
Across a 3-year window, the weekly returns of CLH and HWKN correlate at 0.45, moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. Stretching to 5 years gives 0.39, with an annualized covariance of 411.6 %².
Within CLH's tracked universe of 17 assets, HWKN comes in at #7 by 3-year correlation. The last year tells two different stories: CLH led by 58.5 percentage points, +27.0% for CLH against -31.5% for HWKN. One caveat on sizing: HWKN is 1.6 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.
CLH vs HWKN: side by side
| CLH (Clean Harbors, Inc.) | HWKN (Hawkins, Inc.) | |
|---|---|---|
| 1-year return | +27.0% | -31.5% |
| 5-year return | +204.2% | +226.8% |
| Volatility (ann.) | 23.8% | 38.4% |
| Beta vs S&P 500 | 0.66 | 0.65 |
| Max drawdown (3Y) | -30.9% | -35.9% |
| Market cap | $16.5B | $2.5B |
| P/E (trailing) | 37.8 | 30.8 |
| Dividend yield | 0.00% | 0.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLH | HWKN |
|---|---|---|
| 2022 | +14.4% | -0.8% |
| 2023 | +52.9% | +84.7% |
| 2024 | +31.9% | +75.5% |
| 2025 | +1.9% | +16.5% |
| 2026 | +33.0% | -16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLH and HWKN good diversifiers for each other?
Reasonably. At 0.45, CLH and HWKN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CLH and HWKN?
The CLH/HWKN correlation stands at 0.45 on a 3-year window (1 year: 0.38, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is HWKN a good diversifier for CLH?
Reasonably. At 0.45, CLH and HWKN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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/clh-vs-hwkn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/clh-vs-hwkn/)
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Related comparisons
Hubs: CLH correlations · HWKN correlations
