LECO vs VNT: Correlation
Measured on weekly returns over the past three years, Lincoln Electric Holdings, Inc. (LECO) and Vontier Corporation (VNT) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LECO and VNT?
Over the past 3 years, LECO and VNT moved with a correlation of 0.65, which is strong. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 562.3 %².
By 3-year correlation, VNT places #8 of the 18 assets tracked against LECO. Correlation aside, the last 12 months split them widely, with LECO ahead by 42.0 points (+18.4% versus -23.6%).
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.
LECO vs VNT: side by side
| LECO (Lincoln Electric Holdings, Inc.) | VNT (Vontier Corporation) | |
|---|---|---|
| 1-year return | +18.4% | -23.6% |
| 5-year return | +120.5% | -7.6% |
| Volatility (ann.) | 27.9% | 31.1% |
| Beta vs S&P 500 | 1.03 | 1.13 |
| Max drawdown (3Y) | -34.3% | -38.4% |
| Market cap | $15.8B | $4.5B |
| P/E (trailing) | 29.0 | 14.0 |
| Dividend yield | 1.08% | 0.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LECO | VNT |
|---|---|---|
| 2022 | +5.4% | -36.8% |
| 2023 | +52.6% | +79.3% |
| 2024 | -12.6% | +5.8% |
| 2025 | +29.6% | +2.2% |
| 2026 | +21.7% | -10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LECO and VNT good diversifiers for each other?
Only partially. A correlation of 0.65 means LECO and VNT 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 LECO and VNT?
The LECO/VNT correlation stands at 0.65 on a 3-year window (1 year: 0.59, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is VNT a good diversifier for LECO?
Only partially. A correlation of 0.65 means LECO and VNT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
A reading of 0.65 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/leco-vs-vnt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/leco-vs-vnt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LECO correlations · VNT correlations
