FTK vs MTW: Correlation
Flotek Industries, Inc. (FTK) and Manitowoc Company, Inc. (The) (MTW) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTK and MTW?
Over the past 3 years, FTK and MTW moved with a correlation of 0.42, which is moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 1890.8 %².
MTW is one of the assets that tracks FTK most closely: it ranks #3 out of the 12 assets we track against FTK. The trailing year gives FTK the advantage: +100.2% versus +88.0%, a 12.2-point spread. Risk is not evenly split, since FTK carries 1.6 times the volatility of the other side.
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.
FTK vs MTW: side by side
| FTK (Flotek Industries, Inc.) | MTW (Manitowoc Company, Inc. (The)) | |
|---|---|---|
| 1-year return | +100.2% | +88.0% |
| 5-year return | +196.8% | -22.9% |
| Volatility (ann.) | 84.8% | 53.7% |
| Beta vs S&P 500 | 1.61 | 1.63 |
| Max drawdown (3Y) | -49.6% | -58.5% |
| Market cap | $0.9B | $0.7B |
| P/E (trailing) | 24.2 | 34.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTK | MTW |
|---|---|---|
| 2022 | -0.9% | -50.7% |
| 2023 | -41.7% | +82.2% |
| 2024 | +143.1% | -45.3% |
| 2025 | +80.8% | +31.3% |
| 2026 | +41.6% | +58.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTK and MTW good diversifiers for each other?
Reasonably. At 0.42, FTK and MTW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FTK and MTW?
The FTK/MTW correlation stands at 0.42 on a 3-year window (1 year: 0.40, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is MTW a good diversifier for FTK?
Reasonably. At 0.42, FTK and MTW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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: FTK correlations · MTW correlations
