CP vs CSX: Correlation
Measured on weekly returns over the past three years, Canadian Pacific Kansas City Limited (CP) and CSX Corporation (CSX) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CP and CSX?
On 3 years of weekly data the CP/CSX correlation comes out at 0.57, moderate. The past 12 months show a tighter link (0.72) than the 3-year average (0.57). The 5-year figure is 0.62, and annualized covariance runs at 233.9 %².
Few assets follow CP as closely as CSX, which ranks #3 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months CSX outperformed by 37.7 percentage points (+22.9% for CP against +60.6% for CSX).
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.
CP vs CSX: side by side
| CP (Canadian Pacific Kansas City Limited) | CSX (CSX Corporation) | |
|---|---|---|
| 1-year return | +22.9% | +60.6% |
| 5-year return | +35.4% | +66.2% |
| Volatility (ann.) | 20.9% | 19.7% |
| Beta vs S&P 500 | 0.51 | 0.62 |
| Max drawdown (3Y) | -25.9% | -29.4% |
| Market cap | $82.5B | $95.5B |
| P/E (trailing) | 30.5 | 30.1 |
| Dividend yield | 1.01% | 1.04% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CP | CSX |
|---|---|---|
| 2022 | +4.7% | -16.6% |
| 2023 | +6.8% | +13.5% |
| 2024 | -7.8% | -5.6% |
| 2025 | +2.4% | +14.1% |
| 2026 | +28.0% | +43.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CP and CSX good diversifiers for each other?
Only partially. A correlation of 0.57 means CP and CSX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CP and CSX?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.72 over the last year and 0.62 over 5 years.
Is CSX a good diversifier for CP?
Only partially. A correlation of 0.57 means CP and CSX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CP correlations · CSX correlations
