KOP vs MTW: Correlation
Measured on weekly returns over the past three years, Koppers Holdings Inc. (KOP) and Manitowoc Company, Inc. (The) (MTW) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KOP and MTW?
Over the past 3 years, KOP and MTW moved with a correlation of 0.54, which is moderate. The past 12 months show a weaker link (0.29) than the 3-year average (0.54). Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 983.9 %².
Among the 10 assets we track against KOP, MTW ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MTW outperformed by 27.9 percentage points (+60.1% for KOP against +88.0% for MTW). Risk is not evenly split, since MTW carries 1.6 times the volatility of the other side.
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.
KOP vs MTW: side by side
| KOP (Koppers Holdings Inc.) | MTW (Manitowoc Company, Inc. (The)) | |
|---|---|---|
| 1-year return | +60.1% | +88.0% |
| 5-year return | +47.0% | -22.9% |
| Volatility (ann.) | 33.9% | 53.7% |
| Beta vs S&P 500 | 0.89 | 1.63 |
| Max drawdown (3Y) | -58.4% | -58.5% |
| Market cap | $0.9B | $0.7B |
| P/E (trailing) | – | 34.6 |
| Dividend yield | 0.73% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KOP | MTW |
|---|---|---|
| 2022 | -9.2% | -50.7% |
| 2023 | +82.8% | +82.2% |
| 2024 | -36.3% | -45.3% |
| 2025 | -15.5% | +31.3% |
| 2026 | +71.8% | +58.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KOP and MTW good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KOP and MTW?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.29 over the last year and 0.58 over 5 years.
Is MTW a good diversifier for KOP?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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.
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Related comparisons
Hubs: KOP correlations · MTW correlations
