ATKR vs MTW: Correlation
How closely do Atkore Inc. (ATKR) and Manitowoc Company, Inc. (The) (MTW) 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 ATKR and MTW?
Over the past 3 years, ATKR and MTW moved with a correlation of 0.59, which is moderate. Recent behaviour matches the longer record: 0.60 over 1 year against 0.59 over 3. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 1476.9 %².
Few assets follow ATKR as closely as MTW, which ranks #1 of 13 tracked partners. Correlation aside, the last 12 months split them widely, with MTW ahead by 28.1 points (+59.9% versus +88.0%).
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.
ATKR vs MTW: side by side
| ATKR (Atkore Inc.) | MTW (Manitowoc Company, Inc. (The)) | |
|---|---|---|
| 1-year return | +59.9% | +88.0% |
| 5-year return | +5.7% | -22.9% |
| Volatility (ann.) | 46.4% | 53.7% |
| Beta vs S&P 500 | 1.37 | 1.63 |
| Max drawdown (3Y) | -72.8% | -58.5% |
| Market cap | $3.2B | $0.7B |
| P/E (trailing) | – | 34.6 |
| Dividend yield | 1.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATKR | MTW |
|---|---|---|
| 2022 | +2.0% | -50.7% |
| 2023 | +41.1% | +82.2% |
| 2024 | -47.3% | -45.3% |
| 2025 | -22.7% | +31.3% |
| 2026 | +50.0% | +58.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATKR and MTW good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ATKR and MTW?
As of 2026-08-27, the correlation of weekly returns between ATKR and MTW is 0.59 over 3 years, 0.60 over 1 year and 0.55 over 5 years.
Is MTW a good diversifier for ATKR?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 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.
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Related comparisons
Hubs: ATKR correlations · MTW correlations
