EQS vs TT: Correlation
Measured on weekly returns over the past three years, Equus Total Return, Inc. (EQS) and Trane Technologies (TT) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQS and TT?
Across a 3-year window, the weekly returns of EQS and TT correlate at -0.23, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.34) runs below the 3-year figure (-0.23). Stretching to 5 years gives -0.12, with an annualized covariance of -308.5 %².
Out of 17 assets tracked against EQS, TT lands near the bottom at #15. The last year tells two different stories: TT led by 57.3 percentage points, -49.5% for EQS against +7.8% for TT. Risk is not evenly split, since EQS carries 1.7 times the volatility of the other side.
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.
EQS vs TT: side by side
| EQS (Equus Total Return, Inc.) | TT (Trane Technologies) | |
|---|---|---|
| 1-year return | -49.5% | +7.8% |
| 5-year return | -58.6% | +141.4% |
| Volatility (ann.) | 47.4% | 27.8% |
| Beta vs S&P 500 | -0.16 | 1.19 |
| Max drawdown (3Y) | -58.6% | -24.4% |
| Market cap | – | $100.0B |
| P/E (trailing) | – | 33.8 |
| Dividend yield | 0.00% | 0.86% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | EQS | TT |
|---|---|---|
| 2022 | -39.9% | -15.3% |
| 2023 | +1.4% | +47.4% |
| 2024 | -24.1% | +53.0% |
| 2025 | +28.2% | +6.1% |
| 2026 | -27.0% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQS and TT good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EQS and TT?
The EQS/TT correlation stands at -0.23 on a 3-year window (1 year: -0.34, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is TT a good diversifier for EQS?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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/eqs-vs-tt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eqs-vs-tt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EQS correlations · TT correlations
