CRL vs FTRE: Correlation
Measured on weekly returns over the past three years, Charles River Laboratories (CRL) and Fortrea Holdings Inc. (FTRE) 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 CRL and FTRE?
Across a 3-year window, the weekly returns of CRL and FTRE correlate at 0.57, moderate. Recent behaviour matches the longer record: 0.56 over 1 year against 0.57 over 3. Stretching to 5 years gives n/a, with an annualized covariance of 2149.5 %².
Among the 33 assets we track against CRL, FTRE ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FTRE ahead by 26.8 points (+82.1% versus +108.9%). One caveat on sizing: FTRE is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CRL vs FTRE: side by side
| CRL (Charles River Laboratories) | FTRE (Fortrea Holdings Inc.) | |
|---|---|---|
| 1-year return | +82.1% | +108.9% |
| 5-year return | -33.3% | n/a |
| Volatility (ann.) | 47.9% | 78.9% |
| Beta vs S&P 500 | 0.92 | 1.59 |
| Max drawdown (3Y) | -63.5% | -89.9% |
| Market cap | $14.3B | $1.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CRL | FTRE |
|---|---|---|
| 2022 | -42.2% | – |
| 2023 | +8.5% | – |
| 2024 | -21.9% | -46.6% |
| 2025 | +8.1% | -7.5% |
| 2026 | +48.6% | +9.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRL and FTRE good diversifiers for each other?
Only partially. A correlation of 0.57 means CRL and FTRE 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 CRL and FTRE?
The CRL/FTRE correlation stands at 0.57 on a 3-year window (1 year: 0.56, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is FTRE a good diversifier for CRL?
Only partially. A correlation of 0.57 means CRL and FTRE 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?
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.
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Related comparisons
Hubs: CRL correlations · FTRE correlations
