KAI vs NPO: Correlation
Measured on weekly returns over the past three years, Kadant Inc (KAI) and Enpro Inc. (NPO) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KAI and NPO?
Over the past 3 years, KAI and NPO moved with a correlation of 0.65, which is strong. Recent behaviour matches the longer record: 0.60 over 1 year against 0.65 over 3. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 824.0 %².
Within KAI's tracked universe of 14 assets, NPO comes in at #5 by 3-year correlation. The last year tells two different stories: NPO led by 45.9 percentage points, -8.8% for KAI against +37.1% for NPO.
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.
KAI vs NPO: side by side
| KAI (Kadant Inc) | NPO (Enpro Inc.) | |
|---|---|---|
| 1-year return | -8.8% | +37.1% |
| 5-year return | +49.3% | +270.5% |
| Volatility (ann.) | 37.1% | 34.4% |
| Beta vs S&P 500 | 1.34 | 1.27 |
| Max drawdown (3Y) | -41.2% | -33.7% |
| Market cap | $3.6B | $6.5B |
| P/E (trailing) | 32.9 | 149.1 |
| Dividend yield | 0.46% | 0.41% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KAI | NPO |
|---|---|---|
| 2022 | -22.5% | -0.2% |
| 2023 | +58.7% | +45.6% |
| 2024 | +23.6% | +10.9% |
| 2025 | -17.0% | +25.0% |
| 2026 | +7.7% | +44.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KAI and NPO good diversifiers for each other?
Only partially. A correlation of 0.65 means KAI and NPO 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 KAI and NPO?
The KAI/NPO correlation stands at 0.65 on a 3-year window (1 year: 0.60, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is NPO a good diversifier for KAI?
Only partially. A correlation of 0.65 means KAI and NPO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kai-vs-npo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kai-vs-npo/)
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Related comparisons
Hubs: KAI correlations · NPO correlations
