ALLE vs FELE: Correlation
Measured on weekly returns over the past three years, Allegion (ALLE) and Franklin Electric Co., Inc. (FELE) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLE and FELE?
On 3 years of weekly data the ALLE/FELE correlation comes out at 0.62, strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. The 5-year figure is 0.59, and annualized covariance runs at 343.6 %².
Within ALLE's tracked universe of 33 assets, FELE comes in at #7 by 3-year correlation. Over the last 12 months FELE came out ahead by 10.2 percentage points (-6.4% against +3.8%).
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.
ALLE vs FELE: side by side
| ALLE (Allegion) | FELE (Franklin Electric Co., Inc.) | |
|---|---|---|
| 1-year return | -6.4% | +3.8% |
| 5-year return | +19.4% | +25.2% |
| Volatility (ann.) | 24.3% | 22.7% |
| Beta vs S&P 500 | 0.60 | 0.79 |
| Max drawdown (3Y) | -29.8% | -23.5% |
| Market cap | $13.6B | $4.5B |
| P/E (trailing) | 21.0 | 29.4 |
| Dividend yield | 1.32% | 1.06% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ALLE | FELE |
|---|---|---|
| 2022 | -19.3% | -14.9% |
| 2023 | +22.3% | +22.4% |
| 2024 | +4.7% | +1.8% |
| 2025 | +22.8% | -0.9% |
| 2026 | +1.1% | +7.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLE and FELE good diversifiers for each other?
To a limited degree. At 0.62 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 ALLE and FELE?
As of 2026-08-27, the correlation of weekly returns between ALLE and FELE is 0.62 over 3 years, 0.64 over 1 year and 0.59 over 5 years.
Is FELE a good diversifier for ALLE?
To a limited degree. At 0.62 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 0.62 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/alle-vs-fele.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alle-vs-fele/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALLE correlations · FELE correlations
