KEX vs WAB: Correlation
How closely do Kirby Corporation (KEX) and Wabtec (WAB) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEX and WAB?
Over the past 3 years, KEX and WAB moved with a correlation of 0.58, which is moderate. The link has loosened recently: the 1-year correlation (0.43) runs below the 3-year figure (0.58). Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 495.4 %².
WAB is one of the assets that tracks KEX most closely: it ranks #1 out of the 10 assets we track against KEX. Over the last 12 months WAB came out ahead by 10.6 percentage points (+42.3% against +52.9%).
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.
KEX vs WAB: side by side
| KEX (Kirby Corporation) | WAB (Wabtec) | |
|---|---|---|
| 1-year return | +42.3% | +52.9% |
| 5-year return | +160.1% | +241.0% |
| Volatility (ann.) | 33.9% | 25.3% |
| Beta vs S&P 500 | 1.08 | 0.99 |
| Max drawdown (3Y) | -38.8% | -23.6% |
| Market cap | $7.4B | $50.2B |
| P/E (trailing) | 21.5 | 40.5 |
| Dividend yield | 0.00% | 0.37% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | KEX | WAB |
|---|---|---|
| 2022 | +8.3% | +9.1% |
| 2023 | +22.0% | +28.0% |
| 2024 | +34.8% | +50.1% |
| 2025 | +4.1% | +13.2% |
| 2026 | +26.9% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEX and WAB good diversifiers for each other?
To a limited degree. At 0.58 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 KEX and WAB?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.43 over the last year and 0.56 over 5 years.
Is WAB a good diversifier for KEX?
To a limited degree. At 0.58 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 0.58 mean?
On the −1 to +1 scale, 0.58 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/kex-vs-wab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kex-vs-wab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KEX correlations · WAB correlations
