AXTA vs GRMN: Correlation
Measured on weekly returns over the past three years, Axalta Coating Systems Ltd. (AXTA) and Garmin (GRMN) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXTA and GRMN?
Across a 3-year window, the weekly returns of AXTA and GRMN correlate at 0.57, moderate. The past 12 months show a weaker link (0.42) than the 3-year average (0.57). Stretching to 5 years gives 0.57, with an annualized covariance of 589.3 %².
Among the 17 assets we track against AXTA, GRMN ranks #6 by 3-year correlation. The trailing year gives GRMN the advantage: +16.6% versus +25.1%, a 8.5-point spread.
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.
AXTA vs GRMN: side by side
| AXTA (Axalta Coating Systems Ltd.) | GRMN (Garmin) | |
|---|---|---|
| 1-year return | +16.6% | +25.1% |
| 5-year return | +18.4% | +80.9% |
| Volatility (ann.) | 29.8% | 34.7% |
| Beta vs S&P 500 | 1.01 | 1.06 |
| Max drawdown (3Y) | -38.4% | -28.0% |
| Market cap | $7.9B | $55.9B |
| P/E (trailing) | 22.5 | 29.9 |
| Dividend yield | 0.00% | 1.45% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | AXTA | GRMN |
|---|---|---|
| 2022 | -23.1% | -30.2% |
| 2023 | +33.4% | +43.1% |
| 2024 | +0.7% | +63.3% |
| 2025 | -5.6% | -0.1% |
| 2026 | +13.6% | +44.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXTA and GRMN good diversifiers for each other?
To a limited degree. At 0.57 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 AXTA and GRMN?
The AXTA/GRMN correlation stands at 0.57 on a 3-year window (1 year: 0.42, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is GRMN a good diversifier for AXTA?
To a limited degree. At 0.57 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 0.57 mean?
A reading of 0.57 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/axta-vs-grmn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/axta-vs-grmn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AXTA correlations · GRMN correlations
