FELE vs MTUS: Correlation
Franklin Electric Co., Inc. (FELE) and Metallus Inc. (MTUS) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FELE and MTUS?
Over the past 3 years, FELE and MTUS moved with a correlation of 0.64, which is strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 584.3 %².
Within FELE's tracked universe of 25 assets, MTUS comes in at #8 by 3-year correlation. The last year tells two different stories: MTUS led by 16.4 percentage points, +3.8% for FELE against +20.2% for MTUS. One caveat on sizing: MTUS is 1.8 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.
FELE vs MTUS: side by side
| FELE (Franklin Electric Co., Inc.) | MTUS (Metallus Inc.) | |
|---|---|---|
| 1-year return | +3.8% | +20.2% |
| 5-year return | +25.2% | +40.6% |
| Volatility (ann.) | 22.7% | 40.3% |
| Beta vs S&P 500 | 0.79 | 1.20 |
| Max drawdown (3Y) | -23.5% | -52.7% |
| Market cap | $4.5B | $0.8B |
| P/E (trailing) | 29.4 | 99.5 |
| Dividend yield | 1.06% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FELE | MTUS |
|---|---|---|
| 2022 | -14.9% | +10.1% |
| 2023 | +22.4% | +29.1% |
| 2024 | +1.8% | -39.7% |
| 2025 | -0.9% | +21.4% |
| 2026 | +7.8% | +16.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FELE and MTUS good diversifiers for each other?
Only partially. A correlation of 0.64 means FELE and MTUS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FELE and MTUS?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.64 over the last year and 0.55 over 5 years.
Is MTUS a good diversifier for FELE?
Only partially. A correlation of 0.64 means FELE and MTUS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
A reading of 0.64 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-mtus.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fele-vs-mtus/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FELE correlations · MTUS correlations
