CSL vs. TREX

Last updated Jun 9, 2026

CSL (Carlisle Companies Incorporated) and TREX (Trex Company, Inc.) are both stocks. Both operate in the Building Products & Equipment industry within the Industrials sector. Over the past 10 years, CSL returned 14.38%/yr vs 14.76%/yr for TREX. At a 0.39 correlation, their price movements are largely independent.

Performance

CSL vs. TREX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Carlisle Companies Incorporated (CSL) and Trex Company, Inc. (TREX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSL achieves a 6.34% return, which is significantly lower than TREX's 19.87% return. Both investments have delivered pretty close results over the past 10 years, with CSL having a 14.38% annualized return and TREX not far ahead at 14.76%.

CSL

• 1D: -2.28%
• 1M: -5.87%
• YTD: 6.34%
• 6M: 5.60%
• 1Y: -9.43%
• 3Y*: 14.52%
• 5Y*: 13.85%
• 10Y*: 14.38%

TREX

• 1D: 6.05%
• 1M: 4.60%
• YTD: 19.87%
• 6M: 22.45%
• 1Y: -25.77%
• 3Y*: -10.07%
• 5Y*: -15.54%
• 10Y*: 14.76%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CSL vs. TREX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSL Carlisle Companies Incorporated	6.34%	-12.26%	19.14%	34.26%	-4.08%	60.64%	-1.96%	63.10%	-10.31%	4.51%
TREX Trex Company, Inc.	19.87%	-49.18%	-16.62%	95.58%	-68.65%	61.29%	86.29%	51.42%	9.53%	68.31%

Correlation

The correlation between CSL and TREX is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Apr 9, 1999	0.39

Over the past year, CSL and TREX have become more correlated (0.64) than their long-term average of 0.39, meaning their price movements have been converging.

Fundamentals

Market Cap CSL : $13.90B TREX : $4.42B
EPS CSL : $17.08 TREX : $1.80
PE Ratio CSL : 19.79 TREX : 23.41
PEG Ratio CSL : 0.52 TREX : 64.36
PS Ratio CSL : 2.88 TREX : 3.80
PB Ratio CSL : 8.41 TREX : 4.44
Total Revenue (TTM) CSL : $4.98B TREX : $1.18B
Gross Profit (TTM) CSL : $1.41B TREX : $461.26M
EBITDA (TTM) CSL : $1.17B TREX : $308.51M

Return for Risk

CSL vs. TREX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CSL

CSL Risk / Return Rank: 30
CSL Sharpe Ratio Rank: 31
CSL Sortino Ratio Rank: 28
CSL Omega Ratio Rank: 28
CSL Calmar Ratio Rank: 32
CSL Martin Ratio Rank: 33

TREX

TREX Risk / Return Rank: 24
TREX Sharpe Ratio Rank: 20
TREX Sortino Ratio Rank: 23
TREX Omega Ratio Rank: 21
TREX Calmar Ratio Rank: 26
TREX Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CSL vs. TREX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Carlisle Companies Incorporated (CSL) and Trex Company, Inc. (TREX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CSL	TREX	Difference
Sharpe ratio: Return per unit of total volatility	-0.27	-0.52	+0.25
Sortino ratio: Return per unit of downside risk	-0.14	-0.40	+0.26
Omega ratio: Gain probability vs. loss probability	0.98	0.94	+0.04
Calmar ratio: Return relative to maximum drawdown	-0.30	-0.46	+0.16
Martin ratio: Return relative to average drawdown	-0.50	-0.73	+0.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CSL vs. TREX - Sharpe Ratio Comparison

The current CSL Sharpe Ratio is -0.27, which is higher than the TREX Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of CSL and TREX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CSL	TREX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.27	-0.52	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	-0.33	+0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.32	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.25	+0.27

Drawdowns

CSL vs. TREX - Drawdown Comparison

The maximum CSL drawdown since its inception was -64.56%, smaller than the maximum TREX drawdown of -90.53%. Use the drawdown chart below to compare losses from any high point for CSL and TREX.

Drawdown Indicators

	CSL	TREX	Difference
Max Drawdown Largest peak-to-trough decline	-64.56%	-90.53%	+25.97%
Max Drawdown (1Y) Largest decline over 1 year	-31.67%	-56.01%	+24.34%
Max Drawdown (3Y) Largest decline over 3 years	-37.72%	-69.90%	+32.18%
Max Drawdown (5Y) Largest decline over 5 years	-37.72%	-78.58%	+40.86%
Max Drawdown (10Y) Largest decline over 10 years	-38.68%	-78.58%	+39.90%
Current Drawdown Current decline from peak	-28.29%	-70.11%	+41.82%
Average Drawdown Average peak-to-trough decline	-12.31%	-38.75%	+26.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.73%	35.32%	-16.59%

Volatility

CSL vs. TREX - Volatility Comparison

The current volatility for Carlisle Companies Incorporated (CSL) is 7.83%, while Trex Company, Inc. (TREX) has a volatility of 13.04%. This indicates that CSL experiences smaller price fluctuations and is considered to be less risky than TREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSL	TREX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.83%	13.04%	-5.21%
Volatility (6M) Calculated over the trailing 6-month period	24.01%	26.51%	-2.50%
Volatility (1Y) Calculated over the trailing 1-year period	35.57%	50.31%	-14.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.64%	47.13%	-16.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.60%	46.37%	-16.77%

Dividends

CSL vs. TREX - Dividend Comparison

CSL's dividend yield for the trailing twelve months is around 1.30%, while TREX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSL Carlisle Companies Incorporated	1.30%	1.31%	1.00%	1.02%	1.09%	0.86%	1.31%	1.11%	1.53%	1.27%	1.18%	1.24%
TREX Trex Company, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

CSL vs. TREX - Profitability Comparison

The chart below illustrates the profitability comparison between Carlisle Companies Incorporated and Trex Company, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CSL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Carlisle Companies Incorporated reported a gross profit of 0.00 and revenue of 1.05B. Therefore, the gross margin over that period was 0.0%.

TREX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Trex Company, Inc. reported a gross profit of 139.02M and revenue of 343.40M. Therefore, the gross margin over that period was 40.5%.

CSL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Carlisle Companies Incorporated reported an operating income of 180.30M and revenue of 1.05B, resulting in an operating margin of 17.1%.

TREX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Trex Company, Inc. reported an operating income of 83.51M and revenue of 343.40M, resulting in an operating margin of 24.3%.

CSL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Carlisle Companies Incorporated reported a net income of 127.70M and revenue of 1.05B, resulting in a net margin of 12.1%.

TREX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Trex Company, Inc. reported a net income of 61.40M and revenue of 343.40M, resulting in a net margin of 17.9%.

Frequently Asked Questions

Can I hold both CSL and TREX in my portfolio?

CSL and TREX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CSL or TREX?

TREX has higher volatility (13.04%) compared to CSL (7.83%). In terms of maximum drawdown, CSL dropped -64.56% vs TREX's -90.53%.

Which has better risk-adjusted returns?

CSL currently has the higher Sharpe Ratio (-0.27 vs -0.52), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.