CSL vs IP: Correlation
How closely do Carlisle Companies Incorporated (CSL) and International Paper (IP) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSL and IP?
Across a 3-year window, the weekly returns of CSL and IP correlate at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 644.1 %².
Among the 19 assets we track against CSL, IP ranks #12 by 3-year correlation. Over the last 12 months CSL came out ahead by 7.1 percentage points (-6.4% against -13.5%).
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 IP: side by side
| CSL (Carlisle Companies Incorporated) | IP (International Paper) | |
|---|---|---|
| 1-year return | -6.4% | -13.5% |
| 5-year return | +78.0% | -11.2% |
| Volatility (ann.) | 33.9% | 37.8% |
| Beta vs S&P 500 | 1.10 | 0.77 |
| Max drawdown (3Y) | -37.7% | -48.6% |
| Market cap | $14.3B | $21.1B |
| P/E (trailing) | 20.5 | – |
| Dividend yield | 1.20% | 4.47% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | CSL | IP |
|---|---|---|
| 2022 | -4.1% | -23.0% |
| 2023 | +34.3% | +10.2% |
| 2024 | +19.1% | +55.3% |
| 2025 | -12.3% | -23.8% |
| 2026 | +13.9% | +5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSL and IP 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 CSL and IP?
The CSL/IP correlation stands at 0.50 on a 3-year window (1 year: 0.57, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is IP a good diversifier for CSL?
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?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/csl-vs-ip.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csl-vs-ip/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CSL correlations · IP correlations
