EQIX vs TT: Correlation
Measured on weekly returns over the past three years, Equinix (EQIX) and Trane Technologies (TT) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQIX and TT?
On 3 years of weekly data the EQIX/TT correlation comes out at 0.43, moderate. The relationship has been stable: the 1-year correlation (0.43) sits close to the 3-year figure. The 5-year figure is 0.49, and annualized covariance runs at 293.8 %².
Among the 30 assets we track against EQIX, TT ranks #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EQIX ahead by 31.3 points (+39.1% versus +7.8%). Across three years, the rolling one-year figure varied moderately, from 0.21 to 0.58.
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.
EQIX vs TT: side by side
| EQIX (Equinix) | TT (Trane Technologies) | |
|---|---|---|
| 1-year return | +39.1% | +7.8% |
| 5-year return | +41.6% | +141.4% |
| Volatility (ann.) | 24.4% | 27.8% |
| Beta vs S&P 500 | 0.63 | 1.19 |
| Max drawdown (3Y) | -24.6% | -24.4% |
| Market cap | $106.2B | $100.0B |
| P/E (trailing) | 69.4 | 33.8 |
| Dividend yield | 1.82% | 0.86% |
| Sector / category | Real Estate | Industrials |
Year-by-year returns
| Year | EQIX | TT |
|---|---|---|
| 2022 | -21.1% | -15.3% |
| 2023 | +25.4% | +47.4% |
| 2024 | +19.5% | +53.0% |
| 2025 | -16.9% | +6.1% |
| 2026 | +42.6% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQIX and TT good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EQIX and TT?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.43 over the last year and 0.49 over 5 years.
Is TT a good diversifier for EQIX?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 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/eqix-vs-tt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eqix-vs-tt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EQIX correlations · TT correlations
