CSL vs IEX: Correlation
How closely do Carlisle Companies Incorporated (CSL) and IDEX Corporation (IEX) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSL and IEX?
Over the past 3 years, CSL and IEX moved with a correlation of 0.70, which is strong. The relationship has been stable: the 1-year correlation (0.65) sits close to the 3-year figure. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 557.7 %².
Few assets follow CSL as closely as IEX, which ranks #3 of 19 tracked partners. Correlation aside, the last 12 months split them widely, with IEX ahead by 49.4 points (-6.4% versus +43.0%).
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 IEX: side by side
| CSL (Carlisle Companies Incorporated) | IEX (IDEX Corporation) | |
|---|---|---|
| 1-year return | -6.4% | +43.0% |
| 5-year return | +78.0% | +10.5% |
| Volatility (ann.) | 33.9% | 23.3% |
| Beta vs S&P 500 | 1.10 | 0.89 |
| Max drawdown (3Y) | -37.7% | -34.6% |
| Market cap | $14.3B | $17.2B |
| P/E (trailing) | 20.5 | 33.8 |
| Dividend yield | 1.20% | 1.23% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CSL | IEX |
|---|---|---|
| 2022 | -4.1% | -2.2% |
| 2023 | +34.3% | -3.8% |
| 2024 | +19.1% | -2.4% |
| 2025 | -12.3% | -13.7% |
| 2026 | +13.9% | +32.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSL and IEX good diversifiers for each other?
To a limited degree. At 0.70 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 CSL and IEX?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.65 over the last year and 0.62 over 5 years.
Is IEX a good diversifier for CSL?
To a limited degree. At 0.70 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 0.70 mean?
On the −1 to +1 scale, 0.70 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/csl-vs-iex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/csl-vs-iex/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CSL correlations · IEX correlations
