Kadant Inc. (KAI) — Stock Correlations & Overview
Over the past year, KAI has moved most closely with FXR, RSPN, SCDV. Explore the stocks most correlated and inversely correlated with KAI below, along with its price, financials, and company profile.
Stocks correlated with KAI
Correlation of daily returns. Higher positive values move with KAI; negative values move opposite it. Informational only, not investment advice.
Most correlated with KAI
| Symbol | Company | Correlation |
|---|---|---|
| FXR | First Trust Industrials/Producer Durables AlphaDEX Fund | 0.68 |
| RSPN | Invesco S&P 500 Equal Weight Industrials ETF | 0.66 |
| SCDV | Bahl & Gaynor Small Cap Dividend ETF | 0.64 |
| PSCI | Invesco S&P SmallCap Industrials ETFINVESTMENT ADVICE | 0.64 |
| IYJ | iShares U.S. Industrials ETF | 0.63 |
Frequently asked questions about KAI correlations
- Which stocks are most correlated with KAI?
- Based on one year of daily returns, the stocks most correlated with Kadant Inc. (KAI) are FXR (0.68), RSPN (0.66) and SCDV (0.64). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with KAI?
- Over the past year, the stocks most inversely correlated with Kadant Inc. (KAI) are SMDD (-0.62), MZZ (-0.61) and MYY (-0.61). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these KAI correlations calculated?
- We compute the correlation of daily returns between KAI and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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