ALNT vs WTS: Correlation
Measured on weekly returns over the past three years, Allient Inc. (ALNT) and Watts Water Technologies, Inc. (WTS) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALNT and WTS?
Over the past 3 years, ALNT and WTS moved with a correlation of 0.59, which is moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 738.1 %².
In ALNT's tracked universe of 13 assets, WTS sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months ALNT outperformed by 71.0 percentage points (+102.9% for ALNT against +31.9% for WTS). Note the risk asymmetry: ALNT runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 WTS: side by side
| ALNT (Allient Inc.) | WTS (Watts Water Technologies, Inc.) | |
|---|---|---|
| 1-year return | +102.9% | +31.9% |
| 5-year return | +183.0% | +125.4% |
| Volatility (ann.) | 51.2% | 24.6% |
| Beta vs S&P 500 | 1.42 | 0.89 |
| Max drawdown (3Y) | -52.9% | -19.5% |
| Market cap | $1.6B | $12.4B |
| P/E (trailing) | 55.0 | 32.5 |
| Dividend yield | 0.14% | 0.58% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALNT | WTS |
|---|---|---|
| 2022 | -4.3% | -24.1% |
| 2023 | -12.9% | +43.6% |
| 2024 | -19.3% | -1.6% |
| 2025 | +122.2% | +36.8% |
| 2026 | +78.3% | +35.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALNT and WTS good diversifiers for each other?
Only partially. A correlation of 0.59 means ALNT and WTS 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 WTS?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.55 over the last year and 0.54 over 5 years.
Is WTS a good diversifier for ALNT?
Only partially. A correlation of 0.59 means ALNT and WTS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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.
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Related comparisons
Hubs: ALNT correlations · WTS correlations
