CLS vs KALA: Correlation
How closely do Celestica, Inc. (CLS) and KALA BIO, Inc. (KALA) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLS and KALA?
On 3 years of weekly data the CLS/KALA correlation comes out at 0.33, moderate. The past 12 months show a tighter link (0.45) than the 3-year average (0.33). The 5-year figure is 0.08, and annualized covariance runs at 2400.2 %².
Among the 23 assets we track against CLS, KALA ranks #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CLS ahead by 156.8 points (+57.0% versus -99.8%). One caveat on sizing: KALA is 2.0 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.
CLS vs KALA: side by side
| CLS (Celestica, Inc.) | KALA (KALA BIO, Inc.) | |
|---|---|---|
| 1-year return | +57.0% | -99.8% |
| 5-year return | +3251.4% | -100.0% |
| Volatility (ann.) | 60.6% | 119.6% |
| Beta vs S&P 500 | 2.49 | 1.73 |
| Max drawdown (3Y) | -54.0% | -99.9% |
| Market cap | $40.0B | – |
| P/E (trailing) | 32.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLS | KALA |
|---|---|---|
| 2022 | +1.3% | -36.9% |
| 2023 | +159.8% | -81.7% |
| 2024 | +215.2% | -0.9% |
| 2025 | +220.3% | -92.0% |
| 2026 | +7.4% | -97.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLS and KALA good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLS and KALA?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.45 over the last year and 0.08 over 5 years.
Is KALA a good diversifier for CLS?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
A reading of 0.33 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cls-vs-kala.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cls-vs-kala/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLS correlations · KALA correlations
