NKE vs SWK: Correlation
Nike, Inc. (NKE) and Stanley Black & Decker (SWK) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NKE and SWK?
Across a 3-year window, the weekly returns of NKE and SWK correlate at 0.42, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.42 over 3. Stretching to 5 years gives 0.44, with an annualized covariance of 549.1 %².
Among the 33 assets we track against NKE, SWK ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SWK outperformed by 86.4 percentage points (-49.4% for NKE against +37.0% for SWK). The rolling one-year correlation moved between 0.22 and 0.66 over the past three years, a moderate range.
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.
NKE vs SWK: side by side
| NKE (Nike, Inc.) | SWK (Stanley Black & Decker) | |
|---|---|---|
| 1-year return | -49.4% | +37.0% |
| 5-year return | -75.2% | -39.1% |
| Volatility (ann.) | 36.6% | 35.4% |
| Beta vs S&P 500 | 0.93 | 1.19 |
| Max drawdown (3Y) | -66.9% | -48.3% |
| Market cap | $57.0B | $15.0B |
| P/E (trailing) | 18.4 | 24.4 |
| Dividend yield | 4.22% | 3.33% |
| Sector / category | Consumer Discretionary | Industrials |
Year-by-year returns
| Year | NKE | SWK |
|---|---|---|
| 2022 | -29.0% | -58.9% |
| 2023 | -6.0% | +35.6% |
| 2024 | -29.1% | -15.2% |
| 2025 | -13.8% | -3.2% |
| 2026 | -38.7% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NKE and SWK good diversifiers for each other?
Reasonably. At 0.42, NKE and SWK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NKE and SWK?
The NKE/SWK correlation stands at 0.42 on a 3-year window (1 year: 0.43, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is SWK a good diversifier for NKE?
Reasonably. At 0.42, NKE and SWK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: NKE correlations · SWK correlations
