HAE vs KMT: Correlation
Haemonetics Corporation (HAE) and Kennametal Inc. (KMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAE and KMT?
On 3 years of weekly data the HAE/KMT correlation comes out at 0.43, moderate. The link has loosened recently: the 1-year correlation (0.20) runs below the 3-year figure (0.43). The 5-year figure is 0.35, and annualized covariance runs at 668.0 %².
Within HAE's tracked universe of 12 assets, KMT comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HAE outperformed by 47.5 percentage points (+90.8% for HAE against +43.3% for KMT).
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.
HAE vs KMT: side by side
| HAE (Haemonetics Corporation) | KMT (Kennametal Inc.) | |
|---|---|---|
| 1-year return | +90.8% | +43.3% |
| 5-year return | +69.8% | -6.6% |
| Volatility (ann.) | 46.1% | 33.9% |
| Beta vs S&P 500 | 0.53 | 0.73 |
| Max drawdown (3Y) | -51.0% | -42.9% |
| Market cap | $4.8B | $2.3B |
| P/E (trailing) | 51.5 | 6.8 |
| Dividend yield | 0.00% | 2.67% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HAE | KMT |
|---|---|---|
| 2022 | +48.3% | -31.0% |
| 2023 | +8.7% | +10.5% |
| 2024 | -8.7% | -3.9% |
| 2025 | +2.7% | +22.6% |
| 2026 | +31.0% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAE and KMT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HAE and KMT?
The HAE/KMT correlation stands at 0.43 on a 3-year window (1 year: 0.20, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is KMT a good diversifier for HAE?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 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: HAE correlations · KMT correlations
