FSBW vs PLOW: Correlation
How closely do FS Bancorp, Inc. (FSBW) and Douglas Dynamics, Inc. (PLOW) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSBW and PLOW?
On 3 years of weekly data the FSBW/PLOW correlation comes out at 0.57, moderate. The past 12 months show a weaker link (0.43) than the 3-year average (0.57). The 5-year figure is 0.53, and annualized covariance runs at 515.3 %².
Among the 23 assets we track against FSBW, PLOW ranks #11 by 3-year correlation. The last year tells two different stories: PLOW led by 24.7 percentage points, +3.5% for FSBW against +28.2% for PLOW.
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.
FSBW vs PLOW: side by side
| FSBW (FS Bancorp, Inc.) | PLOW (Douglas Dynamics, Inc.) | |
|---|---|---|
| 1-year return | +3.5% | +28.2% |
| 5-year return | +47.7% | +30.5% |
| Volatility (ann.) | 27.5% | 32.7% |
| Beta vs S&P 500 | 0.69 | 0.55 |
| Max drawdown (3Y) | -26.1% | -29.6% |
| Market cap | $0.3B | $1.0B |
| P/E (trailing) | 9.7 | 18.9 |
| Dividend yield | 2.69% | 2.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSBW | PLOW |
|---|---|---|
| 2022 | +2.4% | -4.0% |
| 2023 | +14.1% | -14.7% |
| 2024 | +14.3% | -16.5% |
| 2025 | +3.7% | +43.8% |
| 2026 | +5.9% | +30.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSBW and PLOW good diversifiers for each other?
To a limited degree. At 0.57 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 FSBW and PLOW?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.43 over the last year and 0.53 over 5 years.
Is PLOW a good diversifier for FSBW?
To a limited degree. At 0.57 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 0.57 mean?
On the −1 to +1 scale, 0.57 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/fsbw-vs-plow.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fsbw-vs-plow/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FSBW correlations · PLOW correlations
