FSTR vs KAI: Correlation
Measured on weekly returns over the past three years, L.B. Foster Company (FSTR) and Kadant Inc (KAI) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSTR and KAI?
Over the past 3 years, FSTR and KAI moved with a correlation of 0.47, which is moderate. The link has tightened recently: the 1-year correlation (0.59) runs above the 3-year figure (0.47). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 811.8 %².
Among the 16 assets we track against FSTR, KAI ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FSTR outperformed by 51.6 percentage points (+42.8% for FSTR against -8.8% for KAI).
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.
FSTR vs KAI: side by side
| FSTR (L.B. Foster Company) | KAI (Kadant Inc) | |
|---|---|---|
| 1-year return | +42.8% | -8.8% |
| 5-year return | +119.1% | +49.3% |
| Volatility (ann.) | 46.4% | 37.1% |
| Beta vs S&P 500 | 1.23 | 1.34 |
| Max drawdown (3Y) | -45.9% | -41.2% |
| Market cap | $0.4B | $3.6B |
| P/E (trailing) | 35.4 | 32.9 |
| Dividend yield | 0.00% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSTR | KAI |
|---|---|---|
| 2022 | -29.6% | -22.5% |
| 2023 | +127.2% | +58.7% |
| 2024 | +22.3% | +23.6% |
| 2025 | +0.2% | -17.0% |
| 2026 | +40.4% | +7.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSTR and KAI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FSTR and KAI?
The FSTR/KAI correlation stands at 0.47 on a 3-year window (1 year: 0.59, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is KAI a good diversifier for FSTR?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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.
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Related comparisons
Hubs: FSTR correlations · KAI correlations
