NWL vs SWK: Correlation
Newell Brands Inc. (NWL) and Stanley Black & Decker (SWK) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWL and SWK?
On 3 years of weekly data the NWL/SWK correlation comes out at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. The 5-year figure is 0.53, and annualized covariance runs at 1214.5 %².
Within NWL's tracked universe of 15 assets, SWK comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SWK ahead by 31.4 points (+5.6% versus +37.0%). One caveat on sizing: NWL is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NWL vs SWK: side by side
| NWL (Newell Brands Inc.) | SWK (Stanley Black & Decker) | |
|---|---|---|
| 1-year return | +5.6% | +37.0% |
| 5-year return | -70.7% | -39.1% |
| Volatility (ann.) | 62.8% | 35.4% |
| Beta vs S&P 500 | 1.15 | 1.19 |
| Max drawdown (3Y) | -72.3% | -48.3% |
| Market cap | $2.5B | $15.0B |
| P/E (trailing) | – | 24.4 |
| Dividend yield | 4.70% | 3.33% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | NWL | SWK |
|---|---|---|
| 2022 | -37.0% | -58.9% |
| 2023 | -30.9% | +35.6% |
| 2024 | +19.0% | -15.2% |
| 2025 | -60.5% | -3.2% |
| 2026 | +63.7% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWL and SWK good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NWL and SWK?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.60 over the last year and 0.53 over 5 years.
Is SWK a good diversifier for NWL?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 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/nwl-vs-swk.json
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Related comparisons
Hubs: NWL correlations · SWK correlations
