FERG vs LECO: Correlation
How closely do Ferguson Enterprises (FERG) and Lincoln Electric Holdings, Inc. (LECO) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FERG and LECO?
Across a 3-year window, the weekly returns of FERG and LECO correlate at 0.62, strong. Recent behaviour matches the longer record: 0.54 over 1 year against 0.62 over 3. Stretching to 5 years gives 0.58, with an annualized covariance of 516.0 %².
In FERG's tracked universe of 35 assets, LECO sits right near the top at #2. Correlation aside, the last 12 months split them widely, with LECO ahead by 17.3 points (+1.1% versus +18.4%).
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.
FERG vs LECO: side by side
| FERG (Ferguson Enterprises) | LECO (Lincoln Electric Holdings, Inc.) | |
|---|---|---|
| 1-year return | +1.1% | +18.4% |
| 5-year return | +82.2% | +120.5% |
| Volatility (ann.) | 30.0% | 27.9% |
| Beta vs S&P 500 | 0.99 | 1.03 |
| Max drawdown (3Y) | -32.9% | -34.3% |
| Market cap | $45.1B | $15.8B |
| P/E (trailing) | 23.0 | 29.0 |
| Dividend yield | 1.80% | 1.08% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | FERG | LECO |
|---|---|---|
| 2022 | -27.2% | +5.4% |
| 2023 | +55.1% | +52.6% |
| 2024 | -8.6% | -12.6% |
| 2025 | +29.9% | +29.6% |
| 2026 | +6.4% | +21.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FERG and LECO good diversifiers for each other?
Only partially. A correlation of 0.62 means FERG and LECO 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 FERG and LECO?
As of 2026-08-27, the correlation of weekly returns between FERG and LECO is 0.62 over 3 years, 0.54 over 1 year and 0.58 over 5 years.
Is LECO a good diversifier for FERG?
Only partially. A correlation of 0.62 means FERG and LECO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 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/ferg-vs-leco.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ferg-vs-leco/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FERG correlations · LECO correlations
