KOP vs TEX: Correlation
How closely do Koppers Holdings Inc. (KOP) and Terex Corporation (TEX) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KOP and TEX?
On 3 years of weekly data the KOP/TEX correlation comes out at 0.56, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.39 versus 0.56 over 3 years. The 5-year figure is 0.64, and annualized covariance runs at 779.3 %².
TEX is one of the assets that tracks KOP most closely: it ranks #1 out of the 10 assets we track against KOP. Their recent paths diverged sharply: over the last 12 months KOP outperformed by 35.9 percentage points (+60.1% for KOP against +24.2% for TEX).
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 TEX: side by side
| KOP (Koppers Holdings Inc.) | TEX (Terex Corporation) | |
|---|---|---|
| 1-year return | +60.1% | +24.2% |
| 5-year return | +47.0% | +31.7% |
| Volatility (ann.) | 33.9% | 41.0% |
| Beta vs S&P 500 | 0.89 | 1.38 |
| Max drawdown (3Y) | -58.4% | -51.3% |
| Market cap | $0.9B | $7.4B |
| P/E (trailing) | – | 31.2 |
| Dividend yield | 0.73% | 1.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KOP | TEX |
|---|---|---|
| 2022 | -9.2% | -1.4% |
| 2023 | +82.8% | +36.1% |
| 2024 | -36.3% | -18.6% |
| 2025 | -15.5% | +17.3% |
| 2026 | +71.8% | +21.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KOP and TEX good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KOP and TEX?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.39 over the last year and 0.64 over 5 years.
Is TEX a good diversifier for KOP?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 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/kop-vs-tex.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kop-vs-tex/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KOP correlations · TEX correlations
