AIT vs DXPE: Correlation
How closely do Applied Industrial Technologies, Inc. (AIT) and DXP Enterprises, Inc. (DXPE) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIT and DXPE?
Across a 3-year window, the weekly returns of AIT and DXPE correlate at 0.57, moderate. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 731.8 %².
Among the 26 assets we track against AIT, DXPE ranks #12 by 3-year correlation. The last year tells two different stories: DXPE led by 28.4 percentage points, +26.9% for AIT against +55.3% for DXPE. Note the risk asymmetry: DXPE runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AIT vs DXPE: side by side
| AIT (Applied Industrial Technologies, Inc.) | DXPE (DXP Enterprises, Inc.) | |
|---|---|---|
| 1-year return | +26.9% | +55.3% |
| 5-year return | +291.4% | +542.5% |
| Volatility (ann.) | 26.0% | 49.8% |
| Beta vs S&P 500 | 1.03 | 1.41 |
| Max drawdown (3Y) | -26.4% | -33.0% |
| Market cap | $12.4B | $3.0B |
| P/E (trailing) | 31.2 | 33.5 |
| Dividend yield | 0.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIT | DXPE |
|---|---|---|
| 2022 | +24.2% | +7.3% |
| 2023 | +38.4% | +22.3% |
| 2024 | +39.7% | +145.2% |
| 2025 | +8.0% | +32.9% |
| 2026 | +32.4% | +75.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIT and DXPE good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AIT and DXPE?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.59 over the last year and 0.45 over 5 years.
Is DXPE a good diversifier for AIT?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AIT correlations · DXPE correlations
