ETN vs GEV: Correlation
How closely do Eaton Corporation (ETN) and GE Vernova (GEV) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETN and GEV?
Over the past 3 years, ETN and GEV moved with a correlation of 0.66, which is strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.66 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 939.9 %².
Among the 44 assets we track against ETN, GEV ranks #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GEV ahead by 33.9 points (+19.7% versus +53.6%). The rolling one-year correlation stayed in a tight band between 0.59 and 0.80 over the past three years, which points to a structural rather than episodic relationship. Risk is not evenly split, since GEV carries 1.5 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.
ETN vs GEV: side by side
| ETN (Eaton Corporation) | GEV (GE Vernova) | |
|---|---|---|
| 1-year return | +19.7% | +53.6% |
| 5-year return | +164.1% | n/a |
| Volatility (ann.) | 30.2% | 45.8% |
| Beta vs S&P 500 | 1.33 | 1.42 |
| Max drawdown (3Y) | -34.5% | -38.3% |
| Market cap | $161.6B | $254.0B |
| P/E (trailing) | 42.4 | 27.3 |
| Dividend yield | 1.02% | 0.18% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | ETN | GEV |
|---|---|---|
| 2022 | -7.2% | – |
| 2023 | +56.2% | – |
| 2024 | +39.5% | – |
| 2025 | -2.8% | +99.0% |
| 2026 | +31.7% | +46.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETN and GEV good diversifiers for each other?
Only partially. A correlation of 0.66 means ETN and GEV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ETN and GEV?
As of 2026-08-27, the correlation of weekly returns between ETN and GEV is 0.66 over 3 years, 0.62 over 1 year and n/a over 5 years.
Is GEV a good diversifier for ETN?
Only partially. A correlation of 0.66 means ETN and GEV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 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-gev.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/etn-vs-gev/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ETN correlations · GEV correlations
