CLW vs YARW: Correlation
How closely do Clearwater Paper Corporation (CLW) and Yarrow Bioscience, Inc. (YARW) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLW and YARW?
Across a 3-year window, the weekly returns of CLW and YARW correlate at 0.37, moderate. Recent behaviour matches the longer record: 0.31 over 1 year against 0.37 over 3. Stretching to 5 years gives 0.20, with an annualized covariance of 1889.9 %².
Within CLW's tracked universe of 11 assets, YARW comes in at #6 by 3-year correlation. The last year tells two different stories: YARW led by 314.7 percentage points, -1.7% for CLW against +313.0% for YARW. Risk is not evenly split, since YARW carries 1.9 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 YARW: side by side
| CLW (Clearwater Paper Corporation) | YARW (Yarrow Bioscience, Inc.) | |
|---|---|---|
| 1-year return | -1.7% | +313.0% |
| 5-year return | -35.0% | -95.6% |
| Volatility (ann.) | 51.3% | 99.6% |
| Beta vs S&P 500 | 0.82 | 1.89 |
| Max drawdown (3Y) | -77.8% | -93.8% |
| 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 | YARW |
|---|---|---|
| 2022 | +3.1% | -85.3% |
| 2023 | -4.5% | -13.7% |
| 2024 | -17.6% | +43.8% |
| 2025 | -41.6% | -82.7% |
| 2026 | +21.2% | +132.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLW and YARW good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLW and YARW?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.31 over the last year and 0.20 over 5 years.
Is YARW a good diversifier for CLW?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/clw-vs-yarw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/clw-vs-yarw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLW correlations · YARW correlations
