KAI vs UFPT: Correlation
Measured on weekly returns over the past three years, Kadant Inc (KAI) and UFP Technologies, Inc. (UFPT) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KAI and UFPT?
On 3 years of weekly data the KAI/UFPT correlation comes out at 0.49, moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.49 over 3. The 5-year figure is 0.44, and annualized covariance runs at 935.2 %².
Among the 14 assets we track against KAI, UFPT ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with UFPT ahead by 48.6 points (-8.8% versus +39.8%).
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 UFPT: side by side
| KAI (Kadant Inc) | UFPT (UFP Technologies, Inc.) | |
|---|---|---|
| 1-year return | -8.8% | +39.8% |
| 5-year return | +49.3% | +340.3% |
| Volatility (ann.) | 37.1% | 51.7% |
| Beta vs S&P 500 | 1.34 | 1.34 |
| Max drawdown (3Y) | -41.2% | -48.3% |
| Market cap | $3.6B | $2.3B |
| P/E (trailing) | 32.9 | 32.9 |
| Dividend yield | 0.46% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KAI | UFPT |
|---|---|---|
| 2022 | -22.5% | +67.8% |
| 2023 | +58.7% | +45.9% |
| 2024 | +23.6% | +42.1% |
| 2025 | -17.0% | -9.2% |
| 2026 | +7.7% | +35.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KAI and UFPT good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between KAI and UFPT?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.54 over the last year and 0.44 over 5 years.
Is UFPT a good diversifier for KAI?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
A reading of 0.49 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/kai-vs-ufpt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kai-vs-ufpt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KAI correlations · UFPT correlations
