CLS vs FN: Correlation
How closely do Celestica, Inc. (CLS) and Fabrinet (FN) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLS and FN?
On 3 years of weekly data the CLS/FN correlation comes out at 0.60, strong. Lately the two have drifted apart, with the 1-year correlation at 0.48 versus 0.60 over 3 years. The 5-year figure is 0.58, and annualized covariance runs at 1998.6 %².
By 3-year correlation, FN places #8 of the 23 assets tracked against CLS. The last year tells two different stories: CLS led by 26.8 percentage points, +57.0% for CLS against +30.2% for FN.
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.
CLS vs FN: side by side
| CLS (Celestica, Inc.) | FN (Fabrinet) | |
|---|---|---|
| 1-year return | +57.0% | +30.2% |
| 5-year return | +3251.4% | +317.1% |
| Volatility (ann.) | 60.6% | 55.4% |
| Beta vs S&P 500 | 2.49 | 1.97 |
| Max drawdown (3Y) | -54.0% | -44.5% |
| Market cap | $40.0B | $15.5B |
| P/E (trailing) | 32.0 | 33.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLS | FN |
|---|---|---|
| 2022 | +1.3% | +8.2% |
| 2023 | +159.8% | +48.4% |
| 2024 | +215.2% | +15.5% |
| 2025 | +220.3% | +107.1% |
| 2026 | +7.4% | -5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLS and FN good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CLS and FN?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.48 over the last year and 0.58 over 5 years.
Is FN a good diversifier for CLS?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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/cls-vs-fn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cls-vs-fn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLS correlations · FN correlations
