AIT vs PCAR: Correlation
Applied Industrial Technologies, Inc. (AIT) and Paccar (PCAR) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIT and PCAR?
On 3 years of weekly data the AIT/PCAR correlation comes out at 0.54, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.54 over 3. The 5-year figure is 0.59, and annualized covariance runs at 340.4 %².
Within AIT's tracked universe of 26 assets, PCAR comes in at #16 by 3-year correlation. Neither side won the trailing year by much: +26.9% against +27.8%.
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 PCAR: side by side
| AIT (Applied Industrial Technologies, Inc.) | PCAR (Paccar) | |
|---|---|---|
| 1-year return | +26.9% | +27.8% |
| 5-year return | +291.4% | +177.9% |
| Volatility (ann.) | 26.0% | 24.1% |
| Beta vs S&P 500 | 1.03 | 0.74 |
| Max drawdown (3Y) | -26.4% | -27.7% |
| Market cap | $12.4B | $66.6B |
| P/E (trailing) | 31.2 | 26.6 |
| Dividend yield | 0.57% | 1.04% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | AIT | PCAR |
|---|---|---|
| 2022 | +24.2% | +17.0% |
| 2023 | +38.4% | +55.0% |
| 2024 | +39.7% | +10.8% |
| 2025 | +8.0% | +8.0% |
| 2026 | +32.4% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIT and PCAR good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AIT and PCAR?
The AIT/PCAR correlation stands at 0.54 on a 3-year window (1 year: 0.49, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is PCAR a good diversifier for AIT?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ait-vs-pcar.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ait-vs-pcar/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AIT correlations · PCAR correlations
