CSL vs GWW: Correlation
Measured on weekly returns over the past three years, Carlisle Companies Incorporated (CSL) and W. W. Grainger (GWW) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSL and GWW?
On 3 years of weekly data the CSL/GWW correlation comes out at 0.54, moderate. The link has loosened recently: the 1-year correlation (0.30) runs below the 3-year figure (0.54). The 5-year figure is 0.47, and annualized covariance runs at 429.1 %².
Among the 19 assets we track against CSL, GWW ranks #10 by 3-year correlation. The last year tells two different stories: GWW led by 37.4 percentage points, -6.4% for CSL against +31.0% for GWW.
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.
CSL vs GWW: side by side
| CSL (Carlisle Companies Incorporated) | GWW (W. W. Grainger) | |
|---|---|---|
| 1-year return | -6.4% | +31.0% |
| 5-year return | +78.0% | +219.4% |
| Volatility (ann.) | 33.9% | 23.3% |
| Beta vs S&P 500 | 1.10 | 0.74 |
| Max drawdown (3Y) | -37.7% | -24.5% |
| Market cap | $14.3B | $62.2B |
| P/E (trailing) | 20.5 | 34.0 |
| Dividend yield | 1.20% | 0.69% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CSL | GWW |
|---|---|---|
| 2022 | -4.1% | +8.7% |
| 2023 | +34.3% | +50.5% |
| 2024 | +19.1% | +28.2% |
| 2025 | -12.3% | -3.4% |
| 2026 | +13.9% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSL and GWW good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CSL and GWW?
The CSL/GWW correlation stands at 0.54 on a 3-year window (1 year: 0.30, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is GWW a good diversifier for CSL?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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/csl-vs-gww.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csl-vs-gww/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CSL correlations · GWW correlations
