EXPD vs ITW: Correlation
Expeditors International (EXPD) and Illinois Tool Works (ITW) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXPD and ITW?
On 3 years of weekly data the EXPD/ITW correlation comes out at 0.42, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.19 versus 0.42 over 3 years. The 5-year figure is 0.57, and annualized covariance runs at 195.6 %².
Within EXPD's tracked universe of 33 assets, ITW comes in at #17 by 3-year correlation. The last year tells two different stories: EXPD led by 49.3 percentage points, +57.5% for EXPD against +8.2% for ITW. The relationship is regime-dependent: the rolling one-year correlation swung between 0.19 and 0.77 over the past three years, so this pair behaves very differently depending on the market environment.
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.
EXPD vs ITW: side by side
| EXPD (Expeditors International) | ITW (Illinois Tool Works) | |
|---|---|---|
| 1-year return | +57.5% | +8.2% |
| 5-year return | +60.9% | +36.1% |
| Volatility (ann.) | 24.2% | 19.0% |
| Beta vs S&P 500 | 0.65 | 0.64 |
| Max drawdown (3Y) | -21.3% | -20.6% |
| Market cap | $24.8B | $80.2B |
| P/E (trailing) | 27.7 | 25.8 |
| Dividend yield | 0.83% | 2.26% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | EXPD | ITW |
|---|---|---|
| 2022 | -21.7% | -8.5% |
| 2023 | +23.9% | +21.6% |
| 2024 | -11.9% | -1.0% |
| 2025 | +36.2% | -0.4% |
| 2026 | +28.7% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXPD and ITW good diversifiers for each other?
Reasonably. At 0.42, EXPD and ITW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EXPD and ITW?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.19 over the last year and 0.57 over 5 years.
Is ITW a good diversifier for EXPD?
Reasonably. At 0.42, EXPD and ITW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/expd-vs-itw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/expd-vs-itw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXPD correlations · ITW correlations
