CLX vs SHW: Correlation
How closely do Clorox (CLX) and Sherwin-Williams (SHW) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLX and SHW?
Across a 3-year window, the weekly returns of CLX and SHW correlate at 0.47, moderate. The past 12 months show a tighter link (0.62) than the 3-year average (0.47). Stretching to 5 years gives 0.45, with an annualized covariance of 281.7 %².
Within CLX's tracked universe of 32 assets, SHW comes in at #7 by 3-year correlation. Neither side won the trailing year by much: -8.8% against -5.1%. Across three years, the rolling one-year figure varied moderately, from 0.21 to 0.63.
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.
CLX vs SHW: side by side
| CLX (Clorox) | SHW (Sherwin-Williams) | |
|---|---|---|
| 1-year return | -8.8% | -5.1% |
| 5-year return | -26.0% | +18.3% |
| Volatility (ann.) | 24.4% | 24.6% |
| Beta vs S&P 500 | 0.39 | 0.79 |
| Max drawdown (3Y) | -46.1% | -25.7% |
| Market cap | $12.5B | $83.8B |
| P/E (trailing) | 21.7 | 31.8 |
| Dividend yield | 4.77% | 0.91% |
| Sector / category | Consumer Staples | Materials |
Year-by-year returns
| Year | CLX | SHW |
|---|---|---|
| 2022 | -17.0% | -32.0% |
| 2023 | +5.0% | +32.7% |
| 2024 | +17.7% | +9.9% |
| 2025 | -35.6% | -3.8% |
| 2026 | +6.5% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLX and SHW good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLX and SHW?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.62 over the last year and 0.45 over 5 years.
Is SHW a good diversifier for CLX?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 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/clx-vs-shw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/clx-vs-shw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CLX correlations · SHW correlations
