FMC vs NWL: Correlation
Measured on weekly returns over the past three years, FMC Corporation (FMC) and Newell Brands Inc. (NWL) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMC and NWL?
Over the past 3 years, FMC and NWL moved with a correlation of 0.51, which is moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.51 over 3. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 1785.9 %².
In FMC's tracked universe of 14 assets, NWL sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months NWL outperformed by 77.8 percentage points (-72.2% for FMC against +5.6% for NWL).
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.
FMC vs NWL: side by side
| FMC (FMC Corporation) | NWL (Newell Brands Inc.) | |
|---|---|---|
| 1-year return | -72.2% | +5.6% |
| 5-year return | -86.6% | -70.7% |
| Volatility (ann.) | 56.2% | 62.8% |
| Beta vs S&P 500 | 0.82 | 1.15 |
| Max drawdown (3Y) | -87.3% | -72.3% |
| Market cap | $1.3B | $2.5B |
| P/E (trailing) | – | – |
| Dividend yield | 7.40% | 4.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMC | NWL |
|---|---|---|
| 2022 | +15.7% | -37.0% |
| 2023 | -48.0% | -30.9% |
| 2024 | -19.7% | +19.0% |
| 2025 | -70.0% | -60.5% |
| 2026 | -22.2% | +63.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMC and NWL good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FMC and NWL?
The FMC/NWL correlation stands at 0.51 on a 3-year window (1 year: 0.44, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is NWL a good diversifier for FMC?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fmc-vs-nwl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fmc-vs-nwl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FMC correlations · NWL correlations
