CME vs CRL: Correlation
Measured on weekly returns over the past three years, CME Group (CME) and Charles River Laboratories (CRL) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CME and CRL?
Over the past 3 years, CME and CRL moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.32) than the 3-year average (-0.18). Over 5 years the correlation is 0.02, and the annualized covariance of weekly returns is -174.6 %².
By 3-year correlation, CRL places #22 of the 47 assets tracked against CME. Correlation aside, the last 12 months split them widely, with CRL ahead by 74.0 points (+8.1% versus +82.1%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.34 and 0.21 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since CRL carries 2.4 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.
CME vs CRL: side by side
| CME (CME Group) | CRL (Charles River Laboratories) | |
|---|---|---|
| 1-year return | +8.1% | +82.1% |
| 5-year return | +73.9% | -33.3% |
| Volatility (ann.) | 20.0% | 47.9% |
| Beta vs S&P 500 | 0.12 | 0.92 |
| Max drawdown (3Y) | -31.1% | -63.5% |
| Market cap | $101.0B | $14.3B |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 1.82% | 0.00% |
| Sector / category | Financials | Health Care |
Year-by-year returns
| Year | CME | CRL |
|---|---|---|
| 2022 | -22.9% | -42.2% |
| 2023 | +31.3% | +8.5% |
| 2024 | +15.4% | -21.9% |
| 2025 | +19.8% | +8.1% |
| 2026 | +5.9% | +48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CME and CRL good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between CME and CRL?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.32 over the last year and 0.02 over 5 years.
Is CRL a good diversifier for CME?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 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/cme-vs-crl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cme-vs-crl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CME correlations · CRL correlations
