KWR vs TNC: Correlation
Measured on weekly returns over the past three years, Quaker Houghton (KWR) and Tennant Company (TNC) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KWR and TNC?
Over the past 3 years, KWR and TNC moved with a correlation of 0.57, which is moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 617.4 %².
By 3-year correlation, TNC places #9 of the 20 assets tracked against KWR. Correlation aside, the last 12 months split them widely, with KWR ahead by 30.1 points (+15.1% versus -15.0%).
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.
KWR vs TNC: side by side
| KWR (Quaker Houghton) | TNC (Tennant Company) | |
|---|---|---|
| 1-year return | +15.1% | -15.0% |
| 5-year return | -32.5% | +1.8% |
| Volatility (ann.) | 34.3% | 31.5% |
| Beta vs S&P 500 | 1.16 | 0.90 |
| Max drawdown (3Y) | -55.3% | -49.0% |
| Market cap | $2.8B | $1.2B |
| P/E (trailing) | 29.4 | 67.3 |
| Dividend yield | 1.24% | 1.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KWR | TNC |
|---|---|---|
| 2022 | -26.9% | -22.8% |
| 2023 | +29.1% | +52.6% |
| 2024 | -33.4% | -11.0% |
| 2025 | -0.8% | -8.2% |
| 2026 | +20.9% | -4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KWR and TNC good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KWR and TNC?
The KWR/TNC correlation stands at 0.57 on a 3-year window (1 year: 0.49, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is TNC a good diversifier for KWR?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
A reading of 0.57 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/kwr-vs-tnc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kwr-vs-tnc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KWR correlations · TNC correlations
