CLS vs GIS: Correlation
Celestica, Inc. (CLS) and General Mills (GIS) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLS and GIS?
Across a 3-year window, the weekly returns of CLS and GIS correlate at -0.32, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.32 over 3. Stretching to 5 years gives -0.24, with an annualized covariance of -404.2 %².
Among the 23 assets we track against CLS, GIS sits near the bottom by co-movement, at rank #20. The last year tells two different stories: CLS led by 69.8 percentage points, +57.0% for CLS against -12.8% for GIS. Note the risk asymmetry: CLS runs 2.9 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.
CLS vs GIS: side by side
| CLS (Celestica, Inc.) | GIS (General Mills) | |
|---|---|---|
| 1-year return | +57.0% | -12.8% |
| 5-year return | +3251.4% | -14.6% |
| Volatility (ann.) | 60.6% | 20.6% |
| Beta vs S&P 500 | 2.49 | -0.05 |
| Max drawdown (3Y) | -54.0% | -53.4% |
| Market cap | $40.0B | $21.6B |
| P/E (trailing) | 32.0 | – |
| Dividend yield | 0.00% | 6.09% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CLS | GIS |
|---|---|---|
| 2022 | +1.3% | +28.1% |
| 2023 | +159.8% | -20.0% |
| 2024 | +215.2% | +1.4% |
| 2025 | +220.3% | -23.7% |
| 2026 | +7.4% | -8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLS and GIS good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CLS and GIS?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.22 over the last year and -0.24 over 5 years.
Is GIS a good diversifier for CLS?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 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-gis.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cls-vs-gis/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLS correlations · GIS correlations
