IEX vs NDSN: Correlation
Measured on weekly returns over the past three years, IDEX Corporation (IEX) and Nordson Corporation (NDSN) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEX and NDSN?
Over the past 3 years, IEX and NDSN moved with a correlation of 0.68, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.58 versus 0.68 over 3 years. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 394.1 %².
Among the 40 assets we track against IEX, NDSN ranks #6 by 3-year correlation. On 12-month performance NDSN holds a 5.5-point edge, +43.0% against +48.5%. Stability stands out here, with the rolling one-year correlation confined to 0.64 through 0.81.
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.
IEX vs NDSN: side by side
| IEX (IDEX Corporation) | NDSN (Nordson Corporation) | |
|---|---|---|
| 1-year return | +43.0% | +48.5% |
| 5-year return | +10.5% | +46.5% |
| Volatility (ann.) | 23.3% | 24.7% |
| Beta vs S&P 500 | 0.89 | 0.97 |
| Max drawdown (3Y) | -34.6% | -39.1% |
| Market cap | $17.2B | $18.4B |
| P/E (trailing) | 33.8 | 33.5 |
| Dividend yield | 1.23% | 0.98% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | IEX | NDSN |
|---|---|---|
| 2022 | -2.2% | -5.9% |
| 2023 | -3.8% | +12.4% |
| 2024 | -2.4% | -20.1% |
| 2025 | -13.7% | +17.0% |
| 2026 | +32.9% | +38.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEX and NDSN good diversifiers for each other?
Only partially. A correlation of 0.68 means IEX and NDSN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IEX and NDSN?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.58 over the last year and 0.70 over 5 years.
Is NDSN a good diversifier for IEX?
Only partially. A correlation of 0.68 means IEX and NDSN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
A reading of 0.68 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iex-vs-ndsn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iex-vs-ndsn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IEX correlations · NDSN correlations
