FELE vs UFPI: Correlation
How closely do Franklin Electric Co., Inc. (FELE) and UFP Industries, Inc. (UFPI) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FELE and UFPI?
Over the past 3 years, FELE and UFPI moved with a correlation of 0.70, which is strong. Little has changed lately, as the 1-year reading of 0.67 lands near the 3-year figure. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 467.8 %².
Few assets follow FELE as closely as UFPI, which ranks #3 of 25 tracked partners. Their recent paths diverged sharply: over the last 12 months FELE outperformed by 19.9 percentage points (+3.8% for FELE against -16.1% for UFPI).
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 UFPI: side by side
| FELE (Franklin Electric Co., Inc.) | UFPI (UFP Industries, Inc.) | |
|---|---|---|
| 1-year return | +3.8% | -16.1% |
| 5-year return | +25.2% | +16.0% |
| Volatility (ann.) | 22.7% | 29.4% |
| Beta vs S&P 500 | 0.79 | 0.82 |
| Max drawdown (3Y) | -23.5% | -41.9% |
| Market cap | $4.5B | $4.7B |
| P/E (trailing) | 29.4 | 19.7 |
| Dividend yield | 1.06% | 1.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FELE | UFPI |
|---|---|---|
| 2022 | -14.9% | -12.9% |
| 2023 | +22.4% | +60.3% |
| 2024 | +1.8% | -9.3% |
| 2025 | -0.9% | -18.0% |
| 2026 | +7.8% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FELE and UFPI good diversifiers for each other?
Only partially. A correlation of 0.70 means FELE and UFPI 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 UFPI?
The FELE/UFPI correlation stands at 0.70 on a 3-year window (1 year: 0.67, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is UFPI a good diversifier for FELE?
Only partially. A correlation of 0.70 means FELE and UFPI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 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-ufpi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fele-vs-ufpi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FELE correlations · UFPI correlations
