CSL vs TRNS: Correlation
How closely do Carlisle Companies Incorporated (CSL) and Transcat, Inc. (TRNS) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSL and TRNS?
On 3 years of weekly data the CSL/TRNS correlation comes out at 0.45, moderate. The link has tightened recently: the 1-year correlation (0.60) runs above the 3-year figure (0.45). The 5-year figure is 0.43, and annualized covariance runs at 767.3 %².
By 3-year correlation, TRNS places #14 of the 19 assets tracked against CSL. Over the last 12 months TRNS came out ahead by 14.1 percentage points (-6.4% against +7.7%).
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 TRNS: side by side
| CSL (Carlisle Companies Incorporated) | TRNS (Transcat, Inc.) | |
|---|---|---|
| 1-year return | -6.4% | +7.7% |
| 5-year return | +78.0% | +35.0% |
| Volatility (ann.) | 33.9% | 50.0% |
| Beta vs S&P 500 | 1.10 | 1.03 |
| Max drawdown (3Y) | -37.7% | -63.9% |
| Market cap | $14.3B | $0.8B |
| P/E (trailing) | 20.5 | 249.6 |
| Dividend yield | 1.20% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSL | TRNS |
|---|---|---|
| 2022 | -4.1% | -23.3% |
| 2023 | +34.3% | +54.3% |
| 2024 | +19.1% | -3.3% |
| 2025 | -12.3% | -46.3% |
| 2026 | +13.9% | +58.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSL and TRNS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CSL and TRNS?
The CSL/TRNS correlation stands at 0.45 on a 3-year window (1 year: 0.60, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is TRNS a good diversifier for CSL?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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-trns.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csl-vs-trns/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CSL correlations · TRNS correlations
