CLW vs CTOR: Correlation
Measured on weekly returns over the past three years, Clearwater Paper Corporation (CLW) and Citius Oncology, Inc. (CTOR) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLW and CTOR?
Across a 3-year window, the weekly returns of CLW and CTOR correlate at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.06) than the 3-year average (-0.27). Stretching to 5 years gives -0.25, with an annualized covariance of -2514.7 %².
Out of 11 assets tracked against CLW, CTOR lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with CLW ahead by 60.5 points (-1.7% versus -62.2%). Risk is not evenly split, since CTOR carries 3.6 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.
CLW vs CTOR: side by side
| CLW (Clearwater Paper Corporation) | CTOR (Citius Oncology, Inc.) | |
|---|---|---|
| 1-year return | -1.7% | -62.2% |
| 5-year return | -35.0% | n/a |
| Volatility (ann.) | 51.3% | 182.3% |
| Beta vs S&P 500 | 0.82 | 1.25 |
| Max drawdown (3Y) | -77.8% | -98.8% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLW | CTOR |
|---|---|---|
| 2022 | +3.1% | – |
| 2023 | -4.5% | +7.7% |
| 2024 | -17.6% | -89.5% |
| 2025 | -41.6% | -13.0% |
| 2026 | +21.2% | -21.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLW and CTOR good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CLW and CTOR?
As of 2026-08-27, the correlation of weekly returns between CLW and CTOR is -0.27 over 3 years, 0.06 over 1 year and -0.25 over 5 years.
Is CTOR a good diversifier for CLW?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CLW correlations · CTOR correlations
