CLS vs JBL: Correlation
How closely do Celestica, Inc. (CLS) and Jabil (JBL) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLS and JBL?
Over the past 3 years, CLS and JBL moved with a correlation of 0.61, which is strong. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 1509.5 %².
Within CLS's tracked universe of 23 assets, JBL comes in at #7 by 3-year correlation. On 12-month performance CLS holds a 6.6-point edge, +57.0% against +50.4%.
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 JBL: side by side
| CLS (Celestica, Inc.) | JBL (Jabil) | |
|---|---|---|
| 1-year return | +57.0% | +50.4% |
| 5-year return | +3251.4% | +405.5% |
| Volatility (ann.) | 60.6% | 40.6% |
| Beta vs S&P 500 | 2.49 | 1.47 |
| Max drawdown (3Y) | -54.0% | -36.8% |
| Market cap | $40.0B | $32.7B |
| P/E (trailing) | 32.0 | 38.9 |
| Dividend yield | 0.00% | 0.10% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | CLS | JBL |
|---|---|---|
| 2022 | +1.3% | -2.5% |
| 2023 | +159.8% | +87.4% |
| 2024 | +215.2% | +13.3% |
| 2025 | +220.3% | +58.7% |
| 2026 | +7.4% | +37.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLS and JBL good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CLS and JBL?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.62 over the last year and 0.58 over 5 years.
Is JBL a good diversifier for CLS?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 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/cls-vs-jbl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cls-vs-jbl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLS correlations · JBL correlations
