CSTE vs OXLC: Correlation
Caesarstone Ltd. (CSTE) and Oxford Lane Capital Corp. - Closed End Fund (OXLC) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSTE and OXLC?
Over the past 3 years, CSTE and OXLC moved with a correlation of 0.36, which is moderate. The past 12 months show a tighter link (0.50) than the 3-year average (0.36). Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 1025.4 %².
In CSTE's tracked universe of 11 assets, OXLC sits right near the top at #3. The last year tells two different stories: CSTE led by 143.7 percentage points, +116.9% for CSTE against -26.8% for OXLC. One caveat on sizing: CSTE is 3.5 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.
CSTE vs OXLC: side by side
| CSTE (Caesarstone Ltd.) | OXLC (Oxford Lane Capital Corp. - Closed End Fund) | |
|---|---|---|
| 1-year return | +116.9% | -26.8% |
| 5-year return | -74.8% | -22.9% |
| Volatility (ann.) | 100.4% | 28.7% |
| Beta vs S&P 500 | 1.27 | 0.62 |
| Max drawdown (3Y) | -90.8% | -57.2% |
| Market cap | $0.1B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 53.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSTE | OXLC |
|---|---|---|
| 2022 | -48.4% | -24.1% |
| 2023 | -34.5% | +16.5% |
| 2024 | +13.6% | +24.6% |
| 2025 | -56.2% | -24.4% |
| 2026 | +72.6% | -17.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSTE and OXLC good diversifiers for each other?
Reasonably. At 0.36, CSTE and OXLC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CSTE and OXLC?
As of 2026-08-27, the correlation of weekly returns between CSTE and OXLC is 0.36 over 3 years, 0.50 over 1 year and 0.30 over 5 years.
Is OXLC a good diversifier for CSTE?
Reasonably. At 0.36, CSTE and OXLC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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/cste-vs-oxlc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cste-vs-oxlc/)
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Related comparisons
Hubs: CSTE correlations · OXLC correlations
