BALL vs KMT: Correlation
How closely do Ball Corporation (BALL) and Kennametal Inc. (KMT) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BALL and KMT?
Across a 3-year window, the weekly returns of BALL and KMT correlate at 0.57, moderate. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 519.8 %².
Few assets follow BALL as closely as KMT, which ranks #3 of 41 tracked partners. Their recent paths diverged sharply: over the last 12 months KMT outperformed by 20.4 percentage points (+22.9% for BALL against +43.3% for KMT).
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.
BALL vs KMT: side by side
| BALL (Ball Corporation) | KMT (Kennametal Inc.) | |
|---|---|---|
| 1-year return | +22.9% | +43.3% |
| 5-year return | -29.3% | -6.6% |
| Volatility (ann.) | 26.9% | 33.9% |
| Beta vs S&P 500 | 0.43 | 0.73 |
| Max drawdown (3Y) | -35.6% | -42.9% |
| Market cap | $16.8B | $2.3B |
| P/E (trailing) | 18.4 | 6.8 |
| Dividend yield | 1.25% | 2.67% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | BALL | KMT |
|---|---|---|
| 2022 | -46.2% | -31.0% |
| 2023 | +14.1% | +10.5% |
| 2024 | -3.0% | -3.9% |
| 2025 | -2.4% | +22.6% |
| 2026 | +20.4% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BALL and KMT good diversifiers for each other?
To a limited degree. At 0.57 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 BALL and KMT?
As of 2026-08-27, the correlation of weekly returns between BALL and KMT is 0.57 over 3 years, 0.65 over 1 year and 0.54 over 5 years.
Is KMT a good diversifier for BALL?
To a limited degree. At 0.57 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 0.57 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/ball-vs-kmt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ball-vs-kmt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BALL correlations · KMT correlations
