CTAS vs WM: Correlation
Cintas (CTAS) and Waste Management (WM) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTAS and WM?
On 3 years of weekly data the CTAS/WM correlation comes out at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 210.0 %².
Within CTAS's tracked universe of 38 assets, WM comes in at #18 by 3-year correlation. Their 12-month results are close: -3.3% for CTAS against -2.0% for WM. On a rolling one-year basis the correlation drifted between 0.30 and 0.69, a moderate band.
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 WM: side by side
| CTAS (Cintas) | WM (Waste Management) | |
|---|---|---|
| 1-year return | -3.3% | -2.0% |
| 5-year return | +117.4% | +51.8% |
| Volatility (ann.) | 23.2% | 18.3% |
| Beta vs S&P 500 | 0.71 | 0.07 |
| Max drawdown (3Y) | -27.7% | -18.1% |
| Market cap | $81.7B | $87.0B |
| P/E (trailing) | 41.8 | 30.8 |
| Dividend yield | 0.87% | 1.60% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | CTAS | WM |
|---|---|---|
| 2022 | +3.0% | -4.5% |
| 2023 | +34.8% | +16.2% |
| 2024 | +22.2% | +14.3% |
| 2025 | +3.8% | +10.5% |
| 2026 | +9.4% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTAS and WM good diversifiers for each other?
Only partially. A correlation of 0.50 means CTAS and WM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CTAS and WM?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.46 over the last year and 0.55 over 5 years.
Is WM a good diversifier for CTAS?
Only partially. A correlation of 0.50 means CTAS and WM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
A reading of 0.50 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
$ curl https://www.pairbook.io/api/v1/pairs/ctas-vs-wm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ctas-vs-wm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CTAS correlations · WM correlations
