BRN vs ITW: Correlation
How closely do Barnwell Industries, Inc. (BRN) and Illinois Tool Works (ITW) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRN and ITW?
Across a 3-year window, the weekly returns of BRN and ITW correlate at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. Stretching to 5 years gives -0.09, with an annualized covariance of -194.6 %².
By 3-year correlation, ITW places #19 of the 35 assets tracked against BRN. The last year tells two different stories: ITW led by 27.3 percentage points, -19.1% for BRN against +8.2% for ITW. Note the risk asymmetry: BRN runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BRN vs ITW: side by side
| BRN (Barnwell Industries, Inc.) | ITW (Illinois Tool Works) | |
|---|---|---|
| 1-year return | -19.1% | +8.2% |
| 5-year return | -58.9% | +36.1% |
| Volatility (ann.) | 53.1% | 19.0% |
| Beta vs S&P 500 | -0.22 | 0.64 |
| Max drawdown (3Y) | -68.5% | -20.6% |
| Market cap | – | $80.2B |
| P/E (trailing) | – | 25.8 |
| Dividend yield | 0.00% | 2.26% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | BRN | ITW |
|---|---|---|
| 2022 | +2.8% | -8.5% |
| 2023 | -16.5% | +21.6% |
| 2024 | -37.9% | -1.0% |
| 2025 | -26.5% | -0.4% |
| 2026 | -14.0% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRN and ITW good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BRN and ITW?
As of 2026-08-27, the correlation of weekly returns between BRN and ITW is -0.19 over 3 years, -0.26 over 1 year and -0.09 over 5 years.
Is ITW a good diversifier for BRN?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 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/brn-vs-itw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/brn-vs-itw/)
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Related comparisons
Hubs: BRN correlations · ITW correlations
