AIT vs GWW: Correlation
Applied Industrial Technologies, Inc. (AIT) and W. W. Grainger (GWW) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIT and GWW?
Over the past 3 years, AIT and GWW moved with a correlation of 0.60, which is strong. Recent behaviour matches the longer record: 0.53 over 1 year against 0.60 over 3. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 364.1 %².
Among the 26 assets we track against AIT, GWW ranks #10 by 3-year correlation. Twelve-month performance is nearly a tie, at +26.9% for AIT and +31.0% for GWW.
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 GWW: side by side
| AIT (Applied Industrial Technologies, Inc.) | GWW (W. W. Grainger) | |
|---|---|---|
| 1-year return | +26.9% | +31.0% |
| 5-year return | +291.4% | +219.4% |
| Volatility (ann.) | 26.0% | 23.3% |
| Beta vs S&P 500 | 1.03 | 0.74 |
| Max drawdown (3Y) | -26.4% | -24.5% |
| Market cap | $12.4B | $62.2B |
| P/E (trailing) | 31.2 | 34.0 |
| Dividend yield | 0.57% | 0.69% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | AIT | GWW |
|---|---|---|
| 2022 | +24.2% | +8.7% |
| 2023 | +38.4% | +50.5% |
| 2024 | +39.7% | +28.2% |
| 2025 | +8.0% | -3.4% |
| 2026 | +32.4% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIT and GWW good diversifiers for each other?
To a limited degree. At 0.60 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 AIT and GWW?
As of 2026-08-27, the correlation of weekly returns between AIT and GWW is 0.60 over 3 years, 0.53 over 1 year and 0.62 over 5 years.
Is GWW a good diversifier for AIT?
To a limited degree. At 0.60 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 0.60 mean?
A reading of 0.60 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
$ curl https://www.pairbook.io/api/v1/pairs/ait-vs-gww.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ait-vs-gww/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AIT correlations · GWW correlations
