CSTE vs TSEM: Correlation
Caesarstone Ltd. (CSTE) and Tower Semiconductor Ltd. (TSEM) show a moderate relationship: their 3-year correlation of weekly returns is 0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSTE and TSEM?
On 3 years of weekly data the CSTE/TSEM correlation comes out at 0.32, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.32 over 3. The 5-year figure is 0.30, and annualized covariance runs at 1698.8 %².
By 3-year correlation, TSEM places #5 of the 11 assets tracked against CSTE. The last year tells two different stories: TSEM led by 155.7 percentage points, +116.9% for CSTE against +272.6% for TSEM. Risk is not evenly split, since CSTE carries 1.9 times the volatility of the other side.
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 TSEM: side by side
| CSTE (Caesarstone Ltd.) | TSEM (Tower Semiconductor Ltd.) | |
|---|---|---|
| 1-year return | +116.9% | +272.6% |
| 5-year return | -74.8% | +648.0% |
| Volatility (ann.) | 100.4% | 52.1% |
| Beta vs S&P 500 | 1.27 | 1.55 |
| Max drawdown (3Y) | -90.8% | -45.8% |
| Market cap | $0.1B | $24.8B |
| P/E (trailing) | – | 87.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSTE | TSEM |
|---|---|---|
| 2022 | -48.4% | +8.9% |
| 2023 | -34.5% | -29.4% |
| 2024 | +13.6% | +68.8% |
| 2025 | -56.2% | +128.0% |
| 2026 | +72.6% | +87.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSTE and TSEM good diversifiers for each other?
Reasonably. At 0.32, CSTE and TSEM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CSTE and TSEM?
As of 2026-08-27, the correlation of weekly returns between CSTE and TSEM is 0.32 over 3 years, 0.41 over 1 year and 0.30 over 5 years.
Is TSEM a good diversifier for CSTE?
Reasonably. At 0.32, CSTE and TSEM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 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
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Related comparisons
Hubs: CSTE correlations · TSEM correlations
