ETN vs GITS: Correlation
How closely do Eaton Corporation (ETN) and Global Interactive Technologies, Inc. (GITS) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETN and GITS?
On 3 years of weekly data the ETN/GITS correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.04) than the 3-year average (-0.23). The 5-year figure is n/a, and annualized covariance runs at -9573.8 %².
GITS is close to the least connected end of ETN's tracked universe, ranking #40 of 44. Their recent paths diverged sharply: over the last 12 months ETN outperformed by 41.8 percentage points (+19.7% for ETN against -22.1% for GITS). One caveat on sizing: GITS is 44.8 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 GITS: side by side
| ETN (Eaton Corporation) | GITS (Global Interactive Technologies, Inc.) | |
|---|---|---|
| 1-year return | +19.7% | -22.1% |
| 5-year return | +164.1% | n/a |
| Volatility (ann.) | 30.2% | 1352.0% |
| Beta vs S&P 500 | 1.33 | -3.91 |
| Max drawdown (3Y) | -34.5% | -98.4% |
| Market cap | $161.6B | – |
| P/E (trailing) | 42.4 | – |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ETN | GITS |
|---|---|---|
| 2022 | -7.2% | – |
| 2023 | +56.2% | – |
| 2024 | +39.5% | -69.5% |
| 2025 | -2.8% | +186.6% |
| 2026 | +31.7% | +154.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETN and GITS good diversifiers for each other?
Yes. With a correlation of -0.23, ETN and GITS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ETN and GITS?
The ETN/GITS correlation stands at -0.23 on a 3-year window (1 year: -0.04, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is GITS a good diversifier for ETN?
Yes. With a correlation of -0.23, ETN and GITS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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-gits.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/etn-vs-gits/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ETN correlations · GITS correlations
