CXT vs LAKE: Correlation
How closely do Crane NXT, Co. (CXT) and Lakeland Industries, Inc. (LAKE) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CXT and LAKE?
Across a 3-year window, the weekly returns of CXT and LAKE correlate at 0.46, moderate. The link has tightened recently: the 1-year correlation (0.56) runs above the 3-year figure (0.46). Stretching to 5 years gives 0.39, with an annualized covariance of 908.6 %².
Within CXT's tracked universe of 11 assets, LAKE comes in at #6 by 3-year correlation. The trailing year gives CXT the advantage: -17.4% versus -22.5%, a 5.1-point spread. Risk is not evenly split, since LAKE carries 1.5 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.
CXT vs LAKE: side by side
| CXT (Crane NXT, Co.) | LAKE (Lakeland Industries, Inc.) | |
|---|---|---|
| 1-year return | -17.4% | -22.5% |
| 5-year return | +48.9% | -49.3% |
| Volatility (ann.) | 35.7% | 55.0% |
| Beta vs S&P 500 | 0.98 | 1.32 |
| Max drawdown (3Y) | -47.0% | -71.2% |
| Market cap | $2.9B | $0.1B |
| P/E (trailing) | 20.5 | – |
| Dividend yield | 1.38% | 0.76% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CXT | LAKE |
|---|---|---|
| 2022 | +0.6% | -38.7% |
| 2023 | +64.9% | +40.6% |
| 2024 | +3.5% | +38.7% |
| 2025 | -18.2% | -65.2% |
| 2026 | +6.5% | +35.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CXT and LAKE good diversifiers for each other?
Reasonably. At 0.46, CXT and LAKE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CXT and LAKE?
As of 2026-08-27, the correlation of weekly returns between CXT and LAKE is 0.46 over 3 years, 0.56 over 1 year and 0.39 over 5 years.
Is LAKE a good diversifier for CXT?
Reasonably. At 0.46, CXT and LAKE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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/cxt-vs-lake.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cxt-vs-lake/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CXT correlations · LAKE correlations
