BDC vs FLS: Correlation
Belden Inc (BDC) and Flowserve Corporation (FLS) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDC and FLS?
Over the past 3 years, BDC and FLS moved with a correlation of 0.56, which is moderate. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 815.6 %².
FLS is one of the assets that tracks BDC most closely: it ranks #3 out of the 13 assets we track against BDC. Their recent paths diverged sharply: over the last 12 months FLS outperformed by 61.0 percentage points (-9.6% for BDC against +51.4% for FLS).
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.
BDC vs FLS: side by side
| BDC (Belden Inc) | FLS (Flowserve Corporation) | |
|---|---|---|
| 1-year return | -9.6% | +51.4% |
| 5-year return | +113.6% | +131.6% |
| Volatility (ann.) | 39.2% | 37.2% |
| Beta vs S&P 500 | 1.17 | 1.43 |
| Max drawdown (3Y) | -35.8% | -38.8% |
| Market cap | $4.7B | $10.4B |
| P/E (trailing) | 19.5 | 28.8 |
| Dividend yield | 0.17% | 1.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDC | FLS |
|---|---|---|
| 2022 | +9.7% | +3.1% |
| 2023 | +7.7% | +37.3% |
| 2024 | +46.1% | +41.9% |
| 2025 | +3.7% | +22.5% |
| 2026 | +3.0% | +18.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDC and FLS good diversifiers for each other?
Only partially. A correlation of 0.56 means BDC and FLS 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 BDC and FLS?
The BDC/FLS correlation stands at 0.56 on a 3-year window (1 year: 0.65, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is FLS a good diversifier for BDC?
Only partially. A correlation of 0.56 means BDC and FLS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bdc-vs-fls.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bdc-vs-fls/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BDC correlations · FLS correlations
