CLH vs MSI: Correlation
Clean Harbors, Inc. (CLH) and Motorola Solutions (MSI) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLH and MSI?
Over the past 3 years, CLH and MSI moved with a correlation of 0.47, which is moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 244.7 %².
Among the 17 assets we track against CLH, MSI ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CLH outperformed by 21.1 percentage points (+27.0% for CLH against +5.9% for MSI).
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 MSI: side by side
| CLH (Clean Harbors, Inc.) | MSI (Motorola Solutions) | |
|---|---|---|
| 1-year return | +27.0% | +5.9% |
| 5-year return | +204.2% | +111.1% |
| Volatility (ann.) | 23.8% | 22.1% |
| Beta vs S&P 500 | 0.66 | 0.61 |
| Max drawdown (3Y) | -30.9% | -27.0% |
| Market cap | $16.5B | $80.5B |
| P/E (trailing) | 37.8 | 38.5 |
| Dividend yield | 0.00% | 0.97% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | CLH | MSI |
|---|---|---|
| 2022 | +14.4% | -3.8% |
| 2023 | +52.9% | +23.0% |
| 2024 | +31.9% | +49.1% |
| 2025 | +1.9% | -16.2% |
| 2026 | +33.0% | +27.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLH and MSI good diversifiers for each other?
Reasonably. At 0.47, CLH and MSI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CLH and MSI?
The CLH/MSI correlation stands at 0.47 on a 3-year window (1 year: 0.39, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is MSI a good diversifier for CLH?
Reasonably. At 0.47, CLH and MSI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/clh-vs-msi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/clh-vs-msi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLH correlations · MSI correlations
