ETN vs POWL: Correlation
Eaton Corporation (ETN) and Powell Industries, Inc. (POWL) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETN and POWL?
Over the past 3 years, ETN and POWL moved with a correlation of 0.58, which is moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 1254.5 %².
By 3-year correlation, POWL places #22 of the 44 assets tracked against ETN. The last year tells two different stories: POWL led by 91.3 percentage points, +19.7% for ETN against +111.0% for POWL. One caveat on sizing: POWL is 2.4 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 POWL: side by side
| ETN (Eaton Corporation) | POWL (Powell Industries, Inc.) | |
|---|---|---|
| 1-year return | +19.7% | +111.0% |
| 5-year return | +164.1% | +2360.3% |
| Volatility (ann.) | 30.2% | 71.5% |
| Beta vs S&P 500 | 1.33 | 1.95 |
| Max drawdown (3Y) | -34.5% | -55.8% |
| Market cap | $161.6B | $7.0B |
| P/E (trailing) | 42.4 | 36.8 |
| Dividend yield | 1.02% | 0.19% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ETN | POWL |
|---|---|---|
| 2022 | -7.2% | +24.3% |
| 2023 | +56.2% | +155.6% |
| 2024 | +39.5% | +152.2% |
| 2025 | -2.8% | +44.5% |
| 2026 | +31.7% | +81.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETN and POWL good diversifiers for each other?
Only partially. A correlation of 0.58 means ETN and POWL 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 POWL?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.61 over the last year and 0.51 over 5 years.
Is POWL a good diversifier for ETN?
Only partially. A correlation of 0.58 means ETN and POWL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
A reading of 0.58 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/etn-vs-powl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/etn-vs-powl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ETN correlations · POWL correlations
