FELE vs KMT: Correlation
How closely do Franklin Electric Co., Inc. (FELE) and Kennametal Inc. (KMT) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FELE and KMT?
Across a 3-year window, the weekly returns of FELE and KMT correlate at 0.60, strong. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Stretching to 5 years gives 0.62, with an annualized covariance of 457.6 %².
By 3-year correlation, KMT places #10 of the 25 assets tracked against FELE. Their recent paths diverged sharply: over the last 12 months KMT outperformed by 39.5 percentage points (+3.8% for FELE against +43.3% for KMT).
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.
FELE vs KMT: side by side
| FELE (Franklin Electric Co., Inc.) | KMT (Kennametal Inc.) | |
|---|---|---|
| 1-year return | +3.8% | +43.3% |
| 5-year return | +25.2% | -6.6% |
| Volatility (ann.) | 22.7% | 33.9% |
| Beta vs S&P 500 | 0.79 | 0.73 |
| Max drawdown (3Y) | -23.5% | -42.9% |
| Market cap | $4.5B | $2.3B |
| P/E (trailing) | 29.4 | 6.8 |
| Dividend yield | 1.06% | 2.67% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FELE | KMT |
|---|---|---|
| 2022 | -14.9% | -31.0% |
| 2023 | +22.4% | +10.5% |
| 2024 | +1.8% | -3.9% |
| 2025 | -0.9% | +22.6% |
| 2026 | +7.8% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FELE and KMT good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FELE and KMT?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.50 over the last year and 0.62 over 5 years.
Is KMT a good diversifier for FELE?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
A reading of 0.60 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/fele-vs-kmt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fele-vs-kmt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FELE correlations · KMT correlations
