ALSN vs ASTE: Correlation
Allison Transmission Holdings, Inc. (ALSN) and Astec Industries, Inc. (ASTE) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALSN and ASTE?
Across a 3-year window, the weekly returns of ALSN and ASTE correlate at 0.57, moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.60, with an annualized covariance of 771.7 %².
Within ALSN's tracked universe of 12 assets, ASTE comes in at #6 by 3-year correlation. The last year tells two different stories: ALSN led by 52.2 percentage points, +46.3% for ALSN against -5.9% for ASTE. Note the risk asymmetry: ASTE runs 1.5 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.
ALSN vs ASTE: side by side
| ALSN (Allison Transmission Holdings, Inc.) | ASTE (Astec Industries, Inc.) | |
|---|---|---|
| 1-year return | +46.3% | -5.9% |
| 5-year return | +271.5% | -23.7% |
| Volatility (ann.) | 29.8% | 45.5% |
| Beta vs S&P 500 | 0.81 | 0.95 |
| Max drawdown (3Y) | -33.6% | -47.0% |
| Market cap | $10.7B | $1.0B |
| P/E (trailing) | 20.4 | 52.6 |
| Dividend yield | 0.87% | 1.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALSN | ASTE |
|---|---|---|
| 2022 | +16.9% | -40.6% |
| 2023 | +42.3% | -7.3% |
| 2024 | +88.0% | -8.4% |
| 2025 | -8.3% | +30.6% |
| 2026 | +32.9% | +2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALSN and ASTE good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ALSN and ASTE?
The ALSN/ASTE correlation stands at 0.57 on a 3-year window (1 year: 0.59, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is ASTE a good diversifier for ALSN?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 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/alsn-vs-aste.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alsn-vs-aste/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALSN correlations · ASTE correlations
