CRS vs ESLA: Correlation
Measured on weekly returns over the past three years, Carpenter Technology Corporation (CRS) and Estrella Immunopharma, Inc. (ESLA) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRS and ESLA?
Over the past 3 years, CRS and ESLA moved with a correlation of 0.31, which is moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 1725.8 %².
Among the 12 assets we track against CRS, ESLA sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with CRS ahead by 129.4 points (+106.2% versus -23.2%). Risk is not evenly split, since ESLA carries 2.6 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.
CRS vs ESLA: side by side
| CRS (Carpenter Technology Corporation) | ESLA (Estrella Immunopharma, Inc.) | |
|---|---|---|
| 1-year return | +106.2% | -23.2% |
| 5-year return | +1445.7% | -92.6% |
| Volatility (ann.) | 46.1% | 120.6% |
| Beta vs S&P 500 | 1.32 | 1.20 |
| Max drawdown (3Y) | -28.7% | -96.7% |
| Market cap | $24.3B | – |
| P/E (trailing) | 46.1 | – |
| Dividend yield | 0.17% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRS | ESLA |
|---|---|---|
| 2022 | +29.5% | +3.8% |
| 2023 | +94.5% | -89.2% |
| 2024 | +141.7% | +8.1% |
| 2025 | +86.2% | +30.0% |
| 2026 | +56.0% | -53.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRS and ESLA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CRS and ESLA?
The CRS/ESLA correlation stands at 0.31 on a 3-year window (1 year: 0.40, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is ESLA a good diversifier for CRS?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
A reading of 0.31 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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[](https://www.pairbook.io/pair/crs-vs-esla/)
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Related comparisons
Hubs: CRS correlations · ESLA correlations
