CTAS vs OPTX: Correlation
Measured on weekly returns over the past three years, Cintas (CTAS) and Syntec Optics Holdings, Inc. (OPTX) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTAS and OPTX?
Across a 3-year window, the weekly returns of CTAS and OPTX correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.04) than the 3-year average (-0.23). Stretching to 5 years gives -0.19, with an annualized covariance of -1044.1 %².
Among the 38 assets we track against CTAS, OPTX ranks #32 by 3-year correlation. The last year tells two different stories: OPTX led by 452.4 percentage points, -3.3% for CTAS against +449.1% for OPTX. Risk is not evenly split, since OPTX carries 8.3 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.
CTAS vs OPTX: side by side
| CTAS (Cintas) | OPTX (Syntec Optics Holdings, Inc.) | |
|---|---|---|
| 1-year return | -3.3% | +449.1% |
| 5-year return | +117.4% | -11.3% |
| Volatility (ann.) | 23.2% | 192.0% |
| Beta vs S&P 500 | 0.71 | 1.00 |
| Max drawdown (3Y) | -27.7% | -93.0% |
| Market cap | $81.7B | $0.4B |
| P/E (trailing) | 41.8 | – |
| Dividend yield | 0.87% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CTAS | OPTX |
|---|---|---|
| 2022 | +3.0% | – |
| 2023 | +34.8% | -49.7% |
| 2024 | +22.2% | -49.9% |
| 2025 | +3.8% | +13.5% |
| 2026 | +9.4% | +205.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTAS and OPTX good diversifiers for each other?
Yes. With a correlation of -0.23, CTAS and OPTX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CTAS and OPTX?
The CTAS/OPTX correlation stands at -0.23 on a 3-year window (1 year: 0.04, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is OPTX a good diversifier for CTAS?
Yes. With a correlation of -0.23, CTAS and OPTX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/ctas-vs-optx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ctas-vs-optx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTAS correlations · OPTX correlations
