ENSG vs ITW: Correlation
How closely do The Ensign Group, Inc. (ENSG) and Illinois Tool Works (ITW) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENSG and ITW?
On 3 years of weekly data the ENSG/ITW correlation comes out at 0.41, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.41 over 3. The 5-year figure is 0.41, and annualized covariance runs at 187.8 %².
Among the 12 assets we track against ENSG, ITW ranks #5 by 3-year correlation. On 12-month performance ITW holds a 7.3-point edge, +0.9% against +8.2%.
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.
ENSG vs ITW: side by side
| ENSG (The Ensign Group, Inc.) | ITW (Illinois Tool Works) | |
|---|---|---|
| 1-year return | +0.9% | +8.2% |
| 5-year return | +115.6% | +36.1% |
| Volatility (ann.) | 23.8% | 19.0% |
| Beta vs S&P 500 | 0.22 | 0.64 |
| Max drawdown (3Y) | -31.8% | -20.6% |
| Market cap | $10.1B | $80.2B |
| P/E (trailing) | 28.4 | 25.8 |
| Dividend yield | 0.14% | 2.26% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ENSG | ITW |
|---|---|---|
| 2022 | +13.0% | -8.5% |
| 2023 | +18.9% | +21.6% |
| 2024 | +18.6% | -1.0% |
| 2025 | +31.3% | -0.4% |
| 2026 | -0.3% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENSG and ITW good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ENSG and ITW?
The ENSG/ITW correlation stands at 0.41 on a 3-year window (1 year: 0.49, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is ITW a good diversifier for ENSG?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
A reading of 0.41 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/ensg-vs-itw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ensg-vs-itw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ENSG correlations · ITW correlations
