CSAN vs LND: Correlation
Measured on weekly returns over the past three years, Cosan S.A. (CSAN) and Brasilagro Brazilian Agric Real Estate Co Sponsored ADR (LND) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSAN and LND?
Across a 3-year window, the weekly returns of CSAN and LND correlate at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 404.7 %².
Among the 11 assets we track against CSAN, LND ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months LND outperformed by 26.9 percentage points (-32.0% for CSAN against -5.1% for LND). Note the risk asymmetry: CSAN runs 2.2 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.
CSAN vs LND: side by side
| CSAN (Cosan S.A.) | LND (Brasilagro Brazilian Agric Real Estate Co Sponsored ADR) | |
|---|---|---|
| 1-year return | -32.0% | -5.1% |
| 5-year return | -81.8% | +2.5% |
| Volatility (ann.) | 44.6% | 20.6% |
| Beta vs S&P 500 | 0.59 | 0.07 |
| Max drawdown (3Y) | -84.7% | -32.5% |
| Market cap | $2.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 20.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSAN | LND |
|---|---|---|
| 2022 | -14.6% | +23.6% |
| 2023 | +23.2% | +3.9% |
| 2024 | -64.0% | -27.2% |
| 2025 | -27.4% | -0.8% |
| 2026 | -29.4% | +3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSAN and LND good diversifiers for each other?
Reasonably. At 0.44, CSAN and LND keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CSAN and LND?
As of 2026-08-27, the correlation of weekly returns between CSAN and LND is 0.44 over 3 years, 0.46 over 1 year and 0.46 over 5 years.
Is LND a good diversifier for CSAN?
Reasonably. At 0.44, CSAN and LND keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 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/csan-vs-lnd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/csan-vs-lnd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CSAN correlations · LND correlations
