ETN vs FIX: Correlation
How closely do Eaton Corporation (ETN) and Comfort Systems USA (FIX) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETN and FIX?
On 3 years of weekly data the ETN/FIX correlation comes out at 0.69, strong. The past 12 months show a weaker link (0.56) than the 3-year average (0.69). The 5-year figure is 0.68, and annualized covariance runs at 989.6 %².
Within ETN's tracked universe of 44 assets, FIX comes in at #9 by 3-year correlation. The last year tells two different stories: FIX led by 108.3 percentage points, +19.7% for ETN against +128.0% for FIX. The rolling one-year correlation moved between 0.48 and 0.83 over the past three years, a moderate range. One caveat on sizing: FIX is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ETN vs FIX: side by side
| ETN (Eaton Corporation) | FIX (Comfort Systems USA) | |
|---|---|---|
| 1-year return | +19.7% | +128.0% |
| 5-year return | +164.1% | +2077.9% |
| Volatility (ann.) | 30.2% | 47.4% |
| Beta vs S&P 500 | 1.33 | 1.74 |
| Max drawdown (3Y) | -34.5% | -46.0% |
| Market cap | $161.6B | $56.8B |
| P/E (trailing) | 42.4 | 39.8 |
| Dividend yield | 1.02% | 0.16% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | ETN | FIX |
|---|---|---|
| 2022 | -7.2% | +17.0% |
| 2023 | +56.2% | +79.6% |
| 2024 | +39.5% | +106.9% |
| 2025 | -2.8% | +120.9% |
| 2026 | +31.7% | +73.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETN and FIX good diversifiers for each other?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ETN and FIX?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.56 over the last year and 0.68 over 5 years.
Is FIX a good diversifier for ETN?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/etn-vs-fix.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/etn-vs-fix/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ETN correlations · FIX correlations
