CTAS vs NSC: Correlation
Cintas (CTAS) and Norfolk Southern (NSC) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTAS and NSC?
On 3 years of weekly data the CTAS/NSC correlation comes out at 0.52, moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. The 5-year figure is 0.53, and annualized covariance runs at 265.4 %².
Within CTAS's tracked universe of 38 assets, NSC comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NSC ahead by 33.3 points (-3.3% versus +30.0%). Across three years, the rolling one-year figure varied moderately, from 0.34 to 0.69.
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.
CTAS vs NSC: side by side
| CTAS (Cintas) | NSC (Norfolk Southern) | |
|---|---|---|
| 1-year return | -3.3% | +30.0% |
| 5-year return | +117.4% | +49.6% |
| Volatility (ann.) | 23.2% | 22.0% |
| Beta vs S&P 500 | 0.71 | 0.69 |
| Max drawdown (3Y) | -27.7% | -25.1% |
| Market cap | $81.7B | $78.1B |
| P/E (trailing) | 41.8 | 30.1 |
| Dividend yield | 0.87% | 1.53% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | CTAS | NSC |
|---|---|---|
| 2022 | +3.0% | -15.6% |
| 2023 | +34.8% | -1.6% |
| 2024 | +22.2% | +1.6% |
| 2025 | +3.8% | +25.6% |
| 2026 | +9.4% | +22.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTAS and NSC good diversifiers for each other?
To a limited degree. At 0.52 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 CTAS and NSC?
As of 2026-08-27, the correlation of weekly returns between CTAS and NSC is 0.52 over 3 years, 0.45 over 1 year and 0.53 over 5 years.
Is NSC a good diversifier for CTAS?
To a limited degree. At 0.52 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 0.52 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/ctas-vs-nsc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ctas-vs-nsc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CTAS correlations · NSC correlations
