FAST vs KVHI: Correlation
How closely do Fastenal (FAST) and KVH Industries, Inc. (KVHI) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FAST and KVHI?
Over the past 3 years, FAST and KVHI moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.41) runs below the 3-year figure (-0.20). Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is -202.9 %².
KVHI is close to the least connected end of FAST's tracked universe, ranking #29 of 33. The last year tells two different stories: KVHI led by 35.8 percentage points, +4.1% for FAST against +39.9% for KVHI. One caveat on sizing: KVHI is 1.7 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.
FAST vs KVHI: side by side
| FAST (Fastenal) | KVHI (KVH Industries, Inc.) | |
|---|---|---|
| 1-year return | +4.1% | +39.9% |
| 5-year return | +105.5% | -25.9% |
| Volatility (ann.) | 24.0% | 41.7% |
| Beta vs S&P 500 | 0.63 | 0.20 |
| Max drawdown (3Y) | -21.9% | -35.9% |
| Market cap | $58.7B | $0.1B |
| P/E (trailing) | 43.7 | – |
| Dividend yield | 1.80% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | FAST | KVHI |
|---|---|---|
| 2022 | -24.3% | +11.2% |
| 2023 | +41.3% | -48.5% |
| 2024 | +13.5% | +8.4% |
| 2025 | +14.0% | +22.3% |
| 2026 | +29.5% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FAST and KVHI good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between FAST and KVHI?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.41 over the last year and -0.06 over 5 years.
Is KVHI a good diversifier for FAST?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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/fast-vs-kvhi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fast-vs-kvhi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FAST correlations · KVHI correlations
