FLS vs SPXC: Correlation
Measured on weekly returns over the past three years, Flowserve Corporation (FLS) and SPX Technologies, Inc. (SPXC) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLS and SPXC?
Across a 3-year window, the weekly returns of FLS and SPXC correlate at 0.67, strong. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. Stretching to 5 years gives 0.63, with an annualized covariance of 836.6 %².
In FLS's tracked universe of 13 assets, SPXC sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months FLS outperformed by 44.7 percentage points (+51.4% for FLS against +6.7% for SPXC).
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.
FLS vs SPXC: side by side
| FLS (Flowserve Corporation) | SPXC (SPX Technologies, Inc.) | |
|---|---|---|
| 1-year return | +51.4% | +6.7% |
| 5-year return | +131.6% | +226.0% |
| Volatility (ann.) | 37.2% | 33.7% |
| Beta vs S&P 500 | 1.43 | 1.20 |
| Max drawdown (3Y) | -38.8% | -33.5% |
| Market cap | $10.4B | $10.3B |
| P/E (trailing) | 28.8 | 36.1 |
| Dividend yield | 1.04% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLS | SPXC |
|---|---|---|
| 2022 | +3.1% | +10.0% |
| 2023 | +37.3% | +53.9% |
| 2024 | +41.9% | +44.1% |
| 2025 | +22.5% | +37.5% |
| 2026 | +18.9% | +2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLS and SPXC good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FLS and SPXC?
The FLS/SPXC correlation stands at 0.67 on a 3-year window (1 year: 0.75, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is SPXC a good diversifier for FLS?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: FLS correlations · SPXC correlations
