CSIQ vs RSG: Correlation
Measured on weekly returns over the past three years, Canadian Solar Inc. (CSIQ) and Republic Services (RSG) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSIQ and RSG?
On 3 years of weekly data the CSIQ/RSG correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.43) than the 3-year average (-0.28). The 5-year figure is -0.12, and annualized covariance runs at -360.5 %².
RSG is close to the least connected end of CSIQ's tracked universe, ranking #13 of 15. Their recent paths diverged sharply: over the last 12 months CSIQ outperformed by 40.8 percentage points (+35.2% for CSIQ against -5.6% for RSG). One caveat on sizing: CSIQ is 4.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CSIQ vs RSG: side by side
| CSIQ (Canadian Solar Inc.) | RSG (Republic Services) | |
|---|---|---|
| 1-year return | +35.2% | -5.6% |
| 5-year return | -62.6% | +87.9% |
| Volatility (ann.) | 79.8% | 16.2% |
| Beta vs S&P 500 | 1.82 | 0.17 |
| Max drawdown (3Y) | -76.1% | -22.5% |
| Market cap | $0.9B | $67.1B |
| P/E (trailing) | – | 31.0 |
| Dividend yield | 0.00% | 1.13% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CSIQ | RSG |
|---|---|---|
| 2022 | -1.2% | -6.2% |
| 2023 | -15.1% | +29.6% |
| 2024 | -57.6% | +23.0% |
| 2025 | +113.8% | +6.4% |
| 2026 | -41.2% | +4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSIQ and RSG good diversifiers for each other?
Yes. With a correlation of -0.28, CSIQ and RSG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CSIQ and RSG?
As of 2026-08-27, the correlation of weekly returns between CSIQ and RSG is -0.28 over 3 years, -0.43 over 1 year and -0.12 over 5 years.
Is RSG a good diversifier for CSIQ?
Yes. With a correlation of -0.28, CSIQ and RSG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/csiq-vs-rsg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/csiq-vs-rsg/)
Free with attribution; caching and terms are described in the API documentation.
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Hubs: CSIQ correlations · RSG correlations
