DCI vs TNC: Correlation
Donaldson Company, Inc. (DCI) and Tennant Company (TNC) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DCI and TNC?
Over the past 3 years, DCI and TNC moved with a correlation of 0.59, which is moderate. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 391.0 %².
Within DCI's tracked universe of 15 assets, TNC comes in at #6 by 3-year correlation. The last year tells two different stories: DCI led by 29.0 percentage points, +14.0% for DCI against -15.0% for TNC. One caveat on sizing: TNC is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DCI vs TNC: side by side
| DCI (Donaldson Company, Inc.) | TNC (Tennant Company) | |
|---|---|---|
| 1-year return | +14.0% | -15.0% |
| 5-year return | +44.4% | +1.8% |
| Volatility (ann.) | 21.0% | 31.5% |
| Beta vs S&P 500 | 0.74 | 0.90 |
| Max drawdown (3Y) | -26.0% | -49.0% |
| Market cap | – | $1.2B |
| P/E (trailing) | 24.8 | 67.3 |
| Dividend yield | 1.30% | 1.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DCI | TNC |
|---|---|---|
| 2022 | +1.0% | -22.8% |
| 2023 | +12.8% | +52.6% |
| 2024 | +4.6% | -11.0% |
| 2025 | +33.7% | -8.2% |
| 2026 | +5.3% | -4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DCI and TNC 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 DCI and TNC?
The DCI/TNC correlation stands at 0.59 on a 3-year window (1 year: 0.56, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is TNC a good diversifier for DCI?
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?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dci-vs-tnc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dci-vs-tnc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DCI correlations · TNC correlations
