AMCR vs ITW: Correlation
Amcor (AMCR) and Illinois Tool Works (ITW) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMCR and ITW?
Over the past 3 years, AMCR and ITW moved with a correlation of 0.50, which is moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 233.9 %².
By 3-year correlation, ITW places #15 of the 36 assets tracked against AMCR. Twelve-month performance is nearly a tie, at +12.6% for AMCR and +8.2% for ITW. Across three years, the rolling one-year figure varied moderately, from 0.27 to 0.75.
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.
AMCR vs ITW: side by side
| AMCR (Amcor) | ITW (Illinois Tool Works) | |
|---|---|---|
| 1-year return | +12.6% | +8.2% |
| 5-year return | -9.8% | +36.1% |
| Volatility (ann.) | 24.5% | 19.0% |
| Beta vs S&P 500 | 0.46 | 0.64 |
| Max drawdown (3Y) | -32.0% | -20.6% |
| Market cap | $21.5B | $80.2B |
| P/E (trailing) | 19.8 | 25.8 |
| Dividend yield | 5.51% | 2.26% |
| Sector / category | Materials | Industrials |
Year-by-year returns
| Year | AMCR | ITW |
|---|---|---|
| 2022 | +3.2% | -8.5% |
| 2023 | -15.0% | +21.6% |
| 2024 | +2.6% | -1.0% |
| 2025 | -9.0% | -0.4% |
| 2026 | +14.9% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMCR and ITW good diversifiers for each other?
Only partially. A correlation of 0.50 means AMCR and ITW 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 AMCR and ITW?
As of 2026-08-27, the correlation of weekly returns between AMCR and ITW is 0.50 over 3 years, 0.53 over 1 year and 0.56 over 5 years.
Is ITW a good diversifier for AMCR?
Only partially. A correlation of 0.50 means AMCR and ITW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 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/amcr-vs-itw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amcr-vs-itw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMCR correlations · ITW correlations
