HY vs SWK: Correlation
How closely do Hyster-Yale, Inc. (HY) and Stanley Black & Decker (SWK) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HY and SWK?
Over the past 3 years, HY and SWK moved with a correlation of 0.52, which is moderate. Recent behaviour matches the longer record: 0.60 over 1 year against 0.52 over 3. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 835.0 %².
Few assets follow HY as closely as SWK, which ranks #3 of 14 tracked partners. Correlation aside, the last 12 months split them widely, with SWK ahead by 43.3 points (-6.3% versus +37.0%).
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.
HY vs SWK: side by side
| HY (Hyster-Yale, Inc.) | SWK (Stanley Black & Decker) | |
|---|---|---|
| 1-year return | -6.3% | +37.0% |
| 5-year return | -30.4% | -39.1% |
| Volatility (ann.) | 45.8% | 35.4% |
| Beta vs S&P 500 | 1.17 | 1.19 |
| Max drawdown (3Y) | -66.4% | -48.3% |
| Market cap | $0.6B | $15.0B |
| P/E (trailing) | – | 24.4 |
| Dividend yield | 4.17% | 3.33% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | HY | SWK |
|---|---|---|
| 2022 | -35.9% | -58.9% |
| 2023 | +153.4% | +35.6% |
| 2024 | -16.3% | -15.2% |
| 2025 | -39.5% | -3.2% |
| 2026 | +19.0% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HY and SWK good diversifiers for each other?
To a limited degree. At 0.52 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 HY and SWK?
As of 2026-08-27, the correlation of weekly returns between HY and SWK is 0.52 over 3 years, 0.60 over 1 year and 0.43 over 5 years.
Is SWK a good diversifier for HY?
To a limited degree. At 0.52 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 0.52 mean?
On the −1 to +1 scale, 0.52 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/hy-vs-swk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hy-vs-swk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HY correlations · SWK correlations
