FAST vs NDSN: Correlation
How closely do Fastenal (FAST) and Nordson Corporation (NDSN) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FAST and NDSN?
Over the past 3 years, FAST and NDSN moved with a correlation of 0.48, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.33 versus 0.48 over 3 years. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 286.9 %².
Within FAST's tracked universe of 33 assets, NDSN comes in at #17 by 3-year correlation. The last year tells two different stories: NDSN led by 44.4 percentage points, +4.1% for FAST against +48.5% for NDSN. On a rolling one-year basis the correlation drifted between 0.32 and 0.65, a moderate band.
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 NDSN: side by side
| FAST (Fastenal) | NDSN (Nordson Corporation) | |
|---|---|---|
| 1-year return | +4.1% | +48.5% |
| 5-year return | +105.5% | +46.5% |
| Volatility (ann.) | 24.0% | 24.7% |
| Beta vs S&P 500 | 0.63 | 0.97 |
| Max drawdown (3Y) | -21.9% | -39.1% |
| Market cap | $58.7B | $18.4B |
| P/E (trailing) | 43.7 | 33.5 |
| Dividend yield | 1.80% | 0.98% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | FAST | NDSN |
|---|---|---|
| 2022 | -24.3% | -5.9% |
| 2023 | +41.3% | +12.4% |
| 2024 | +13.5% | -20.1% |
| 2025 | +14.0% | +17.0% |
| 2026 | +29.5% | +38.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FAST and NDSN good diversifiers for each other?
Reasonably. At 0.48, FAST and NDSN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FAST and NDSN?
The FAST/NDSN correlation stands at 0.48 on a 3-year window (1 year: 0.33, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is NDSN a good diversifier for FAST?
Reasonably. At 0.48, FAST and NDSN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/fast-vs-ndsn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fast-vs-ndsn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FAST correlations · NDSN correlations
