SXI vs WTS: Correlation
How closely do Standex International Corporation (SXI) and Watts Water Technologies, Inc. (WTS) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SXI and WTS?
On 3 years of weekly data the SXI/WTS correlation comes out at 0.61, strong. The link has tightened recently: the 1-year correlation (0.72) runs above the 3-year figure (0.61). The 5-year figure is 0.61, and annualized covariance runs at 497.1 %².
Within SXI's tracked universe of 12 assets, WTS comes in at #5 by 3-year correlation. Over the last 12 months SXI came out ahead by 12.6 percentage points (+44.5% against +31.9%).
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.
SXI vs WTS: side by side
| SXI (Standex International Corporation) | WTS (Watts Water Technologies, Inc.) | |
|---|---|---|
| 1-year return | +44.5% | +31.9% |
| 5-year return | +218.6% | +125.4% |
| Volatility (ann.) | 33.0% | 24.6% |
| Beta vs S&P 500 | 1.04 | 0.89 |
| Max drawdown (3Y) | -38.0% | -19.5% |
| Market cap | $3.7B | $12.4B |
| P/E (trailing) | 35.2 | 32.5 |
| Dividend yield | 0.44% | 0.58% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SXI | WTS |
|---|---|---|
| 2022 | -6.5% | -24.1% |
| 2023 | +56.0% | +43.6% |
| 2024 | +18.9% | -1.6% |
| 2025 | +17.0% | +36.8% |
| 2026 | +40.0% | +35.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SXI and WTS good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SXI and WTS?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.72 over the last year and 0.61 over 5 years.
Is WTS a good diversifier for SXI?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
A reading of 0.61 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
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Related comparisons
Hubs: SXI correlations · WTS correlations
