FAST vs LECO: Correlation
Fastenal (FAST) and Lincoln Electric Holdings, Inc. (LECO) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FAST and LECO?
Over the past 3 years, FAST and LECO moved with a correlation of 0.51, which is moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.51 over 3. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 338.6 %².
Within FAST's tracked universe of 33 assets, LECO comes in at #12 by 3-year correlation. The trailing year gives LECO the advantage: +4.1% versus +18.4%, a 14.3-point spread.
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 LECO: side by side
| FAST (Fastenal) | LECO (Lincoln Electric Holdings, Inc.) | |
|---|---|---|
| 1-year return | +4.1% | +18.4% |
| 5-year return | +105.5% | +120.5% |
| Volatility (ann.) | 24.0% | 27.9% |
| Beta vs S&P 500 | 0.63 | 1.03 |
| Max drawdown (3Y) | -21.9% | -34.3% |
| Market cap | $58.7B | $15.8B |
| P/E (trailing) | 43.7 | 29.0 |
| Dividend yield | 1.80% | 1.08% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | FAST | LECO |
|---|---|---|
| 2022 | -24.3% | +5.4% |
| 2023 | +41.3% | +52.6% |
| 2024 | +13.5% | -12.6% |
| 2025 | +14.0% | +29.6% |
| 2026 | +29.5% | +21.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FAST and LECO good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FAST and LECO?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.45 over the last year and 0.56 over 5 years.
Is LECO a good diversifier for FAST?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
A reading of 0.51 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/fast-vs-leco.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fast-vs-leco/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FAST correlations · LECO correlations
