ALLE vs MHK: Correlation
Measured on weekly returns over the past three years, Allegion (ALLE) and Mohawk Industries, Inc. (MHK) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLE and MHK?
Across a 3-year window, the weekly returns of ALLE and MHK correlate at 0.71, strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.71 over 3. Stretching to 5 years gives 0.70, with an annualized covariance of 678.3 %².
In ALLE's tracked universe of 33 assets, MHK sits right near the top at #1. Twelve-month performance is nearly a tie, at -6.4% for ALLE and -1.8% for MHK. One caveat on sizing: MHK is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 MHK: side by side
| ALLE (Allegion) | MHK (Mohawk Industries, Inc.) | |
|---|---|---|
| 1-year return | -6.4% | -1.8% |
| 5-year return | +19.4% | -35.8% |
| Volatility (ann.) | 24.3% | 39.3% |
| Beta vs S&P 500 | 0.60 | 1.13 |
| Max drawdown (3Y) | -29.8% | -42.0% |
| Market cap | $13.6B | $8.8B |
| P/E (trailing) | 21.0 | 17.5 |
| Dividend yield | 1.32% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ALLE | MHK |
|---|---|---|
| 2022 | -19.3% | -43.9% |
| 2023 | +22.3% | +1.3% |
| 2024 | +4.7% | +15.1% |
| 2025 | +22.8% | -8.3% |
| 2026 | +1.1% | +18.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLE and MHK good diversifiers for each other?
Only partially. A correlation of 0.71 means ALLE and MHK 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 ALLE and MHK?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.69 over the last year and 0.70 over 5 years.
Is MHK a good diversifier for ALLE?
Only partially. A correlation of 0.71 means ALLE and MHK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 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/alle-vs-mhk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alle-vs-mhk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALLE correlations · MHK correlations
