NDSN vs SWK: Correlation
Nordson Corporation (NDSN) and Stanley Black & Decker (SWK) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NDSN and SWK?
On 3 years of weekly data the NDSN/SWK correlation comes out at 0.60, strong. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. The 5-year figure is 0.60, and annualized covariance runs at 520.4 %².
Among the 39 assets we track against NDSN, SWK ranks #21 by 3-year correlation. Over the last 12 months NDSN came out ahead by 11.5 percentage points (+48.5% against +37.0%). The rolling one-year correlation stayed in a tight band between 0.50 and 0.71 over the past three years, which points to a structural rather than episodic relationship.
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.
NDSN vs SWK: side by side
| NDSN (Nordson Corporation) | SWK (Stanley Black & Decker) | |
|---|---|---|
| 1-year return | +48.5% | +37.0% |
| 5-year return | +46.5% | -39.1% |
| Volatility (ann.) | 24.7% | 35.4% |
| Beta vs S&P 500 | 0.97 | 1.19 |
| Max drawdown (3Y) | -39.1% | -48.3% |
| Market cap | $18.4B | $15.0B |
| P/E (trailing) | 33.5 | 24.4 |
| Dividend yield | 0.98% | 3.33% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | NDSN | SWK |
|---|---|---|
| 2022 | -5.9% | -58.9% |
| 2023 | +12.4% | +35.6% |
| 2024 | -20.1% | -15.2% |
| 2025 | +17.0% | -3.2% |
| 2026 | +38.4% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NDSN and SWK good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NDSN and SWK?
The NDSN/SWK correlation stands at 0.60 on a 3-year window (1 year: 0.56, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is SWK a good diversifier for NDSN?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 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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Hubs: NDSN correlations · SWK correlations
