CLX vs ITW: Correlation
How closely do Clorox (CLX) and Illinois Tool Works (ITW) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLX and ITW?
On 3 years of weekly data the CLX/ITW correlation comes out at 0.45, moderate. The past 12 months show a tighter link (0.59) than the 3-year average (0.45). The 5-year figure is 0.43, and annualized covariance runs at 208.4 %².
By 3-year correlation, ITW places #10 of the 32 assets tracked against CLX. Their recent paths diverged sharply: over the last 12 months ITW outperformed by 17.0 percentage points (-8.8% for CLX against +8.2% for ITW). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.05 to 0.63.
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.
CLX vs ITW: side by side
| CLX (Clorox) | ITW (Illinois Tool Works) | |
|---|---|---|
| 1-year return | -8.8% | +8.2% |
| 5-year return | -26.0% | +36.1% |
| Volatility (ann.) | 24.4% | 19.0% |
| Beta vs S&P 500 | 0.39 | 0.64 |
| Max drawdown (3Y) | -46.1% | -20.6% |
| Market cap | $12.5B | $80.2B |
| P/E (trailing) | 21.7 | 25.8 |
| Dividend yield | 4.77% | 2.26% |
| Sector / category | Consumer Staples | Industrials |
Year-by-year returns
| Year | CLX | ITW |
|---|---|---|
| 2022 | -17.0% | -8.5% |
| 2023 | +5.0% | +21.6% |
| 2024 | +17.7% | -1.0% |
| 2025 | -35.6% | -0.4% |
| 2026 | +6.5% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLX and ITW good diversifiers for each other?
Reasonably. At 0.45, CLX and ITW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CLX and ITW?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.59 over the last year and 0.43 over 5 years.
Is ITW a good diversifier for CLX?
Reasonably. At 0.45, CLX and ITW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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/clx-vs-itw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clx-vs-itw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLX correlations · ITW correlations
