AIT vs MSM: Correlation
Applied Industrial Technologies, Inc. (AIT) and MSC Industrial Direct Company, Inc. (MSM) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIT and MSM?
On 3 years of weekly data the AIT/MSM correlation comes out at 0.66, strong. Little has changed lately, as the 1-year reading of 0.67 lands near the 3-year figure. The 5-year figure is 0.64, and annualized covariance runs at 436.5 %².
Within AIT's tracked universe of 26 assets, MSM comes in at #6 by 3-year correlation. On 12-month performance MSM holds a 11.2-point edge, +26.9% against +38.1%.
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 MSM: side by side
| AIT (Applied Industrial Technologies, Inc.) | MSM (MSC Industrial Direct Company, Inc.) | |
|---|---|---|
| 1-year return | +26.9% | +38.1% |
| 5-year return | +291.4% | +73.8% |
| Volatility (ann.) | 26.0% | 25.3% |
| Beta vs S&P 500 | 1.03 | 0.78 |
| Max drawdown (3Y) | -26.4% | -29.3% |
| Market cap | $12.4B | – |
| P/E (trailing) | 31.2 | 29.6 |
| Dividend yield | 0.57% | 2.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIT | MSM |
|---|---|---|
| 2022 | +24.2% | +0.9% |
| 2023 | +38.4% | +28.5% |
| 2024 | +39.7% | -23.4% |
| 2025 | +8.0% | +17.4% |
| 2026 | +32.4% | +49.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIT and MSM good diversifiers for each other?
Only partially. A correlation of 0.66 means AIT and MSM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AIT and MSM?
The AIT/MSM correlation stands at 0.66 on a 3-year window (1 year: 0.67, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is MSM a good diversifier for AIT?
Only partially. A correlation of 0.66 means AIT and MSM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 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
$ curl https://www.pairbook.io/api/v1/pairs/ait-vs-msm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ait-vs-msm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AIT correlations · MSM correlations
