CLX vs ZBH: Correlation
Clorox (CLX) and Zimmer Biomet (ZBH) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLX and ZBH?
Across a 3-year window, the weekly returns of CLX and ZBH correlate at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Stretching to 5 years gives 0.36, with an annualized covariance of 294.2 %².
By 3-year correlation, ZBH places #6 of the 32 assets tracked against CLX. Their 12-month results are close: -8.8% for CLX against -5.9% for ZBH. The rolling one-year correlation moved between 0.24 and 0.56 over the past three years, a moderate range.
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 ZBH: side by side
| CLX (Clorox) | ZBH (Zimmer Biomet) | |
|---|---|---|
| 1-year return | -8.8% | -5.9% |
| 5-year return | -26.0% | -28.6% |
| Volatility (ann.) | 24.4% | 24.9% |
| Beta vs S&P 500 | 0.39 | 0.51 |
| Max drawdown (3Y) | -46.1% | -38.8% |
| Market cap | $12.5B | $19.0B |
| P/E (trailing) | 21.7 | 24.6 |
| Dividend yield | 4.77% | 0.95% |
| Sector / category | Consumer Staples | Health Care |
Year-by-year returns
| Year | CLX | ZBH |
|---|---|---|
| 2022 | -17.0% | +4.2% |
| 2023 | +5.0% | -3.8% |
| 2024 | +17.7% | -12.5% |
| 2025 | -35.6% | -14.0% |
| 2026 | +6.5% | +11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLX and ZBH good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLX and ZBH?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.55 over the last year and 0.36 over 5 years.
Is ZBH a good diversifier for CLX?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/clx-vs-zbh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/clx-vs-zbh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CLX correlations · ZBH correlations
