ASTE vs RRX: Correlation
How closely do Astec Industries, Inc. (ASTE) and Regal Rexnord Corporation (RRX) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTE and RRX?
Across a 3-year window, the weekly returns of ASTE and RRX correlate at 0.59, moderate. The link has tightened recently: the 1-year correlation (0.73) runs above the 3-year figure (0.59). Stretching to 5 years gives 0.54, with an annualized covariance of 1137.8 %².
RRX is one of the assets that tracks ASTE most closely: it ranks #1 out of the 13 assets we track against ASTE. The trailing year gives RRX the advantage: -5.9% versus +8.2%, a 14.1-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.
ASTE vs RRX: side by side
| ASTE (Astec Industries, Inc.) | RRX (Regal Rexnord Corporation) | |
|---|---|---|
| 1-year return | -5.9% | +8.2% |
| 5-year return | -23.7% | +18.1% |
| Volatility (ann.) | 45.5% | 42.0% |
| Beta vs S&P 500 | 0.95 | 1.10 |
| Max drawdown (3Y) | -47.0% | -48.1% |
| Market cap | $1.0B | $10.9B |
| P/E (trailing) | 52.6 | 34.0 |
| Dividend yield | 1.18% | 0.85% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASTE | RRX |
|---|---|---|
| 2022 | -40.6% | -28.7% |
| 2023 | -7.3% | +24.6% |
| 2024 | -8.4% | +5.7% |
| 2025 | +30.6% | -8.6% |
| 2026 | +2.7% | +17.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTE and RRX good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ASTE and RRX?
As of 2026-08-27, the correlation of weekly returns between ASTE and RRX is 0.59 over 3 years, 0.73 over 1 year and 0.54 over 5 years.
Is RRX a good diversifier for ASTE?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
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: ASTE correlations · RRX correlations
