CMCO vs WST: Correlation
Columbus McKinnon Corporation (CMCO) and West Pharmaceutical Services (WST) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMCO and WST?
On 3 years of weekly data the CMCO/WST correlation comes out at 0.46, moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.46). The 5-year figure is 0.37, and annualized covariance runs at 882.0 %².
Within CMCO's tracked universe of 15 assets, WST comes in at #7 by 3-year correlation. The last year tells two different stories: WST led by 17.8 percentage points, +23.3% for CMCO against +41.1% for WST.
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.
CMCO vs WST: side by side
| CMCO (Columbus McKinnon Corporation) | WST (West Pharmaceutical Services) | |
|---|---|---|
| 1-year return | +23.3% | +41.1% |
| 5-year return | -58.0% | -22.4% |
| Volatility (ann.) | 50.1% | 38.6% |
| Beta vs S&P 500 | 1.42 | 0.86 |
| Max drawdown (3Y) | -72.8% | -53.8% |
| Market cap | $0.5B | $24.4B |
| P/E (trailing) | – | 44.8 |
| Dividend yield | 1.56% | 0.25% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | CMCO | WST |
|---|---|---|
| 2022 | -29.3% | -49.7% |
| 2023 | +21.1% | +50.0% |
| 2024 | -3.9% | -6.8% |
| 2025 | -52.9% | -15.7% |
| 2026 | +7.8% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMCO and WST good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CMCO and WST?
The CMCO/WST correlation stands at 0.46 on a 3-year window (1 year: 0.26, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is WST a good diversifier for CMCO?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 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/cmco-vs-wst.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmco-vs-wst/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMCO correlations · WST correlations
