APH vs ETN: Correlation
Measured on weekly returns over the past three years, Amphenol (APH) and Eaton Corporation (ETN) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APH and ETN?
Over the past 3 years, APH and ETN moved with a correlation of 0.67, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.50 versus 0.67 over 3 years. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 683.0 %².
Among the 38 assets we track against APH, ETN ranks #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months APH outperformed by 27.8 percentage points (+47.5% for APH against +19.7% for ETN). Across three years, the rolling one-year figure varied moderately, from 0.44 to 0.85.
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.
APH vs ETN: side by side
| APH (Amphenol) | ETN (Eaton Corporation) | |
|---|---|---|
| 1-year return | +47.5% | +19.7% |
| 5-year return | +338.9% | +164.1% |
| Volatility (ann.) | 33.6% | 30.2% |
| Beta vs S&P 500 | 1.57 | 1.33 |
| Max drawdown (3Y) | -28.2% | -34.5% |
| Market cap | $199.0B | $161.6B |
| P/E (trailing) | 40.3 | 42.4 |
| Dividend yield | 0.57% | 1.02% |
| Sector / category | Information Technology | Industrials |
Year-by-year returns
| Year | APH | ETN |
|---|---|---|
| 2022 | -12.0% | -7.2% |
| 2023 | +31.5% | +56.2% |
| 2024 | +41.3% | +39.5% |
| 2025 | +96.1% | -2.8% |
| 2026 | +19.8% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APH and ETN good diversifiers for each other?
Only partially. A correlation of 0.67 means APH and ETN 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 APH and ETN?
As of 2026-08-27, the correlation of weekly returns between APH and ETN is 0.67 over 3 years, 0.50 over 1 year and 0.68 over 5 years.
Is ETN a good diversifier for APH?
Only partially. A correlation of 0.67 means APH and ETN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
A reading of 0.67 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: APH correlations · ETN correlations
