ETN vs TT: Correlation
Eaton Corporation (ETN) and Trane Technologies (TT) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETN and TT?
On 3 years of weekly data the ETN/TT correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.74 over 1 year against 0.80 over 3. The 5-year figure is 0.77, and annualized covariance runs at 676.9 %².
Few assets follow ETN as closely as TT, which ranks #1 of 44 tracked partners. The trailing year gives ETN the advantage: +19.7% versus +7.8%, a 11.9-point spread. On a rolling one-year basis the correlation drifted between 0.63 and 0.92, a moderate band.
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 TT: side by side
| ETN (Eaton Corporation) | TT (Trane Technologies) | |
|---|---|---|
| 1-year return | +19.7% | +7.8% |
| 5-year return | +164.1% | +141.4% |
| Volatility (ann.) | 30.2% | 27.8% |
| Beta vs S&P 500 | 1.33 | 1.19 |
| Max drawdown (3Y) | -34.5% | -24.4% |
| Market cap | $161.6B | $100.0B |
| P/E (trailing) | 42.4 | 33.8 |
| Dividend yield | 1.02% | 0.86% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | ETN | TT |
|---|---|---|
| 2022 | -7.2% | -15.3% |
| 2023 | +56.2% | +47.4% |
| 2024 | +39.5% | +53.0% |
| 2025 | -2.8% | +6.1% |
| 2026 | +31.7% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETN and TT good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ETN and TT?
The ETN/TT correlation stands at 0.80 on a 3-year window (1 year: 0.74, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is TT a good diversifier for ETN?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 mean?
A reading of 0.80 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-tt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/etn-vs-tt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ETN correlations · TT correlations
