TPB vs WTS: Correlation
Turning Point Brands, Inc. (TPB) and Watts Water Technologies, Inc. (WTS) 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 TPB and WTS?
Across a 3-year window, the weekly returns of TPB and WTS correlate at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Stretching to 5 years gives 0.32, with an annualized covariance of 460.6 %².
Within TPB's tracked universe of 15 assets, WTS comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WTS outperformed by 46.1 percentage points (-14.2% for TPB against +31.9% for WTS). Risk is not evenly split, since TPB carries 1.8 times the volatility of the other side.
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.
TPB vs WTS: side by side
| TPB (Turning Point Brands, Inc.) | WTS (Watts Water Technologies, Inc.) | |
|---|---|---|
| 1-year return | -14.2% | +31.9% |
| 5-year return | +74.4% | +125.4% |
| Volatility (ann.) | 44.7% | 24.6% |
| Beta vs S&P 500 | 0.76 | 0.89 |
| Max drawdown (3Y) | -50.6% | -19.5% |
| Market cap | $1.7B | $12.4B |
| P/E (trailing) | 38.3 | 32.5 |
| Dividend yield | 0.35% | 0.58% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TPB | WTS |
|---|---|---|
| 2022 | -42.2% | -24.1% |
| 2023 | +23.1% | +43.6% |
| 2024 | +130.1% | -1.6% |
| 2025 | +81.0% | +36.8% |
| 2026 | -22.1% | +35.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TPB and WTS good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between TPB and WTS?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.51 over the last year and 0.32 over 5 years.
Is WTS a good diversifier for TPB?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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.
Use this data
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Related comparisons
Hubs: TPB correlations · WTS correlations
