CLS vs KHC: Correlation
Celestica, Inc. (CLS) and Kraft Heinz (KHC) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLS and KHC?
Across a 3-year window, the weekly returns of CLS and KHC correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.09) than the 3-year average (-0.22). Stretching to 5 years gives -0.09, with an annualized covariance of -286.8 %².
By 3-year correlation, KHC places #15 of the 23 assets tracked against CLS. Correlation aside, the last 12 months split them widely, with CLS ahead by 60.9 points (+57.0% versus -3.9%). Risk is not evenly split, since CLS carries 2.8 times the volatility of the other side.
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 KHC: side by side
| CLS (Celestica, Inc.) | KHC (Kraft Heinz) | |
|---|---|---|
| 1-year return | +57.0% | -3.9% |
| 5-year return | +3251.4% | -10.9% |
| Volatility (ann.) | 60.6% | 21.7% |
| Beta vs S&P 500 | 2.49 | 0.12 |
| Max drawdown (3Y) | -54.0% | -38.7% |
| Market cap | $40.0B | $29.8B |
| P/E (trailing) | 32.0 | – |
| Dividend yield | 0.00% | 6.45% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CLS | KHC |
|---|---|---|
| 2022 | +1.3% | +18.2% |
| 2023 | +159.8% | -5.0% |
| 2024 | +215.2% | -13.0% |
| 2025 | +220.3% | -16.3% |
| 2026 | +7.4% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLS and KHC good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between CLS and KHC?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.09 over the last year and -0.09 over 5 years.
Is KHC a good diversifier for CLS?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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-khc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cls-vs-khc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CLS correlations · KHC correlations
