KMT vs UA: Correlation
Measured on weekly returns over the past three years, Kennametal Inc. (KMT) and Under Armour, Inc. (UA) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KMT and UA?
Over the past 3 years, KMT and UA moved with a correlation of 0.51, which is moderate. The link has loosened recently: the 1-year correlation (0.41) runs below the 3-year figure (0.51). Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 801.1 %².
Among the 21 assets we track against KMT, UA ranks #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with KMT ahead by 43.1 points (+43.3% versus +0.2%).
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.
KMT vs UA: side by side
| KMT (Kennametal Inc.) | UA (Under Armour, Inc.) | |
|---|---|---|
| 1-year return | +43.3% | +0.2% |
| 5-year return | -6.6% | -76.2% |
| Volatility (ann.) | 33.9% | 46.7% |
| Beta vs S&P 500 | 0.73 | 0.99 |
| Max drawdown (3Y) | -42.9% | -60.2% |
| Market cap | $2.3B | $2.1B |
| P/E (trailing) | 6.8 | – |
| Dividend yield | 2.67% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KMT | UA |
|---|---|---|
| 2022 | -31.0% | -50.6% |
| 2023 | +10.5% | -6.4% |
| 2024 | -3.9% | -10.7% |
| 2025 | +22.6% | -35.7% |
| 2026 | +8.1% | +3.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KMT and UA good diversifiers for each other?
Only partially. A correlation of 0.51 means KMT and UA 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 KMT and UA?
The KMT/UA correlation stands at 0.51 on a 3-year window (1 year: 0.41, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is UA a good diversifier for KMT?
Only partially. A correlation of 0.51 means KMT and UA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
A reading of 0.51 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: KMT correlations · UA correlations
