CRS vs MMM: Correlation
Measured on weekly returns over the past three years, Carpenter Technology Corporation (CRS) and 3M (MMM) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRS and MMM?
On 3 years of weekly data the CRS/MMM correlation comes out at 0.56, moderate. Recent behaviour matches the longer record: 0.59 over 1 year against 0.56 over 3. The 5-year figure is 0.51, and annualized covariance runs at 767.1 %².
Within CRS's tracked universe of 12 assets, MMM comes in at #6 by 3-year correlation. The last year tells two different stories: CRS led by 89.8 percentage points, +106.2% for CRS against +16.4% for MMM. Note the risk asymmetry: CRS runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 MMM: side by side
| CRS (Carpenter Technology Corporation) | MMM (3M) | |
|---|---|---|
| 1-year return | +106.2% | +16.4% |
| 5-year return | +1445.7% | +29.9% |
| Volatility (ann.) | 46.1% | 29.8% |
| Beta vs S&P 500 | 1.32 | 0.89 |
| Max drawdown (3Y) | -28.7% | -20.7% |
| Market cap | $24.3B | $92.2B |
| P/E (trailing) | 46.1 | 31.9 |
| Dividend yield | 0.17% | 1.68% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CRS | MMM |
|---|---|---|
| 2022 | +29.5% | -29.6% |
| 2023 | +94.5% | -3.3% |
| 2024 | +141.7% | +46.1% |
| 2025 | +86.2% | +26.4% |
| 2026 | +56.0% | +13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRS and MMM good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CRS and MMM?
The CRS/MMM correlation stands at 0.56 on a 3-year window (1 year: 0.59, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is MMM a good diversifier for CRS?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 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/crs-vs-mmm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crs-vs-mmm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRS correlations · MMM correlations
