FELE vs TAP: Correlation
How closely do Franklin Electric Co., Inc. (FELE) and Molson Coors Beverage Company (TAP) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FELE and TAP?
Over the past 3 years, FELE and TAP moved with a correlation of 0.45, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.63 versus 0.45 over 3 years. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 244.6 %².
TAP is close to the least connected end of FELE's tracked universe, ranking #21 of 25. Their recent paths diverged sharply: over the last 12 months FELE outperformed by 18.8 percentage points (+3.8% for FELE against -15.0% for TAP).
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 TAP: side by side
| FELE (Franklin Electric Co., Inc.) | TAP (Molson Coors Beverage Company) | |
|---|---|---|
| 1-year return | +3.8% | -15.0% |
| 5-year return | +25.2% | +3.9% |
| Volatility (ann.) | 22.7% | 23.9% |
| Beta vs S&P 500 | 0.79 | 0.15 |
| Max drawdown (3Y) | -23.5% | -38.8% |
| Market cap | $4.5B | $7.8B |
| P/E (trailing) | 29.4 | – |
| Dividend yield | 1.06% | 4.51% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | FELE | TAP |
|---|---|---|
| 2022 | -14.9% | +14.4% |
| 2023 | +22.4% | +22.2% |
| 2024 | +1.8% | -3.4% |
| 2025 | -0.9% | -15.5% |
| 2026 | +7.8% | -8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FELE and TAP good diversifiers for each other?
Reasonably. At 0.45, FELE and TAP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FELE and TAP?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.63 over the last year and 0.41 over 5 years.
Is TAP a good diversifier for FELE?
Reasonably. At 0.45, FELE and TAP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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/fele-vs-tap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fele-vs-tap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FELE correlations · TAP correlations
