ALNT vs MTW: Correlation
Allient Inc. (ALNT) and Manitowoc Company, Inc. (The) (MTW) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALNT and MTW?
Across a 3-year window, the weekly returns of ALNT and MTW correlate at 0.67, strong. Little has changed lately, as the 1-year reading of 0.63 lands near the 3-year figure. Stretching to 5 years gives 0.58, with an annualized covariance of 1848.3 %².
In ALNT's tracked universe of 13 assets, MTW sits right near the top at #1. The trailing year gives ALNT the advantage: +102.9% versus +88.0%, a 14.9-point spread.
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.
ALNT vs MTW: side by side
| ALNT (Allient Inc.) | MTW (Manitowoc Company, Inc. (The)) | |
|---|---|---|
| 1-year return | +102.9% | +88.0% |
| 5-year return | +183.0% | -22.9% |
| Volatility (ann.) | 51.2% | 53.7% |
| Beta vs S&P 500 | 1.42 | 1.63 |
| Max drawdown (3Y) | -52.9% | -58.5% |
| Market cap | $1.6B | $0.7B |
| P/E (trailing) | 55.0 | 34.6 |
| Dividend yield | 0.14% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALNT | MTW |
|---|---|---|
| 2022 | -4.3% | -50.7% |
| 2023 | -12.9% | +82.2% |
| 2024 | -19.3% | -45.3% |
| 2025 | +122.2% | +31.3% |
| 2026 | +78.3% | +58.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALNT and MTW good diversifiers for each other?
Only partially. A correlation of 0.67 means ALNT and MTW 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 ALNT and MTW?
The ALNT/MTW correlation stands at 0.67 on a 3-year window (1 year: 0.63, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is MTW a good diversifier for ALNT?
Only partially. A correlation of 0.67 means ALNT and MTW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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/alnt-vs-mtw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alnt-vs-mtw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALNT correlations · MTW correlations
