ETN vs GNRC: Correlation
Measured on weekly returns over the past three years, Eaton Corporation (ETN) and Generac (GNRC) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETN and GNRC?
Over the past 3 years, ETN and GNRC moved with a correlation of 0.47, which is moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.47 over 3. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 654.4 %².
Within ETN's tracked universe of 44 assets, GNRC comes in at #30 by 3-year correlation. On 12-month performance ETN holds a 14.2-point edge, +19.7% against +5.5%. Across three years, the rolling one-year figure varied moderately, from 0.16 to 0.62. One caveat on sizing: GNRC is 1.5 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 GNRC: side by side
| ETN (Eaton Corporation) | GNRC (Generac) | |
|---|---|---|
| 1-year return | +19.7% | +5.5% |
| 5-year return | +164.1% | -55.4% |
| Volatility (ann.) | 30.2% | 46.1% |
| Beta vs S&P 500 | 1.33 | 1.35 |
| Max drawdown (3Y) | -34.5% | -47.8% |
| Market cap | $161.6B | $11.6B |
| P/E (trailing) | 42.4 | 47.4 |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | ETN | GNRC |
|---|---|---|
| 2022 | -7.2% | -71.4% |
| 2023 | +56.2% | +28.4% |
| 2024 | +39.5% | +20.0% |
| 2025 | -2.8% | -12.0% |
| 2026 | +31.7% | +44.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETN and GNRC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ETN and GNRC?
As of 2026-08-27, the correlation of weekly returns between ETN and GNRC is 0.47 over 3 years, 0.40 over 1 year and 0.43 over 5 years.
Is GNRC a good diversifier for ETN?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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-gnrc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/etn-vs-gnrc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ETN correlations · GNRC correlations
