CSAN vs SID: Correlation
Measured on weekly returns over the past three years, Cosan S.A. (CSAN) and Companhia Siderurgica Nacional S.A. (SID) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSAN and SID?
Over the past 3 years, CSAN and SID moved with a correlation of 0.50, which is moderate. The past 12 months show a weaker link (0.37) than the 3-year average (0.50). Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 1095.1 %².
In CSAN's tracked universe of 11 assets, SID sits right near the top at #2. The trailing year gives SID the advantage: -32.0% versus -23.7%, a 8.3-point spread.
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 SID: side by side
| CSAN (Cosan S.A.) | SID (Companhia Siderurgica Nacional S.A.) | |
|---|---|---|
| 1-year return | -32.0% | -23.7% |
| 5-year return | -81.8% | -77.7% |
| Volatility (ann.) | 44.6% | 49.3% |
| Beta vs S&P 500 | 0.59 | 1.22 |
| Max drawdown (3Y) | -84.7% | -76.0% |
| Market cap | $2.8B | $1.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSAN | SID |
|---|---|---|
| 2022 | -14.6% | -29.7% |
| 2023 | +23.2% | +69.2% |
| 2024 | -64.0% | -59.6% |
| 2025 | -27.4% | +11.1% |
| 2026 | -29.4% | -33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSAN and SID good diversifiers for each other?
To a limited degree. At 0.50 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 CSAN and SID?
The CSAN/SID correlation stands at 0.50 on a 3-year window (1 year: 0.37, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is SID a good diversifier for CSAN?
To a limited degree. At 0.50 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 0.50 mean?
On the −1 to +1 scale, 0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/csan-vs-sid.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/csan-vs-sid/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CSAN correlations · SID correlations
