CRL vs PM: Correlation
Charles River Laboratories (CRL) and Philip Morris International (PM) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRL and PM?
On 3 years of weekly data the CRL/PM correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.36 versus -0.22 over 3 years. The 5-year figure is -0.02, and annualized covariance runs at -248.3 %².
Among the 33 assets we track against CRL, PM sits near the bottom by co-movement, at rank #29. Their recent paths diverged sharply: over the last 12 months CRL outperformed by 61.9 percentage points (+82.1% for CRL against +20.2% for PM). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.48 to 0.51. Risk is not evenly split, since CRL carries 2.1 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.
CRL vs PM: side by side
| CRL (Charles River Laboratories) | PM (Philip Morris International) | |
|---|---|---|
| 1-year return | +82.1% | +20.2% |
| 5-year return | -33.3% | +133.5% |
| Volatility (ann.) | 47.9% | 23.1% |
| Beta vs S&P 500 | 0.92 | -0.01 |
| Max drawdown (3Y) | -63.5% | -20.6% |
| Market cap | $14.3B | $296.9B |
| P/E (trailing) | – | 26.7 |
| Dividend yield | 0.00% | 3.03% |
| Sector / category | Health Care | Consumer Staples |
Year-by-year returns
| Year | CRL | PM |
|---|---|---|
| 2022 | -42.2% | +12.3% |
| 2023 | +8.5% | -1.9% |
| 2024 | -21.9% | +34.3% |
| 2025 | +8.1% | +38.0% |
| 2026 | +48.6% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRL and PM good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between CRL and PM?
As of 2026-08-27, the correlation of weekly returns between CRL and PM is -0.22 over 3 years, -0.36 over 1 year and -0.02 over 5 years.
Is PM a good diversifier for CRL?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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/crl-vs-pm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crl-vs-pm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRL correlations · PM correlations
