FIX vs MOD: Correlation
Measured on weekly returns over the past three years, Comfort Systems USA (FIX) and Modine Manufacturing Company (MOD) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIX and MOD?
Across a 3-year window, the weekly returns of FIX and MOD correlate at 0.62, strong. Recent behaviour matches the longer record: 0.60 over 1 year against 0.62 over 3. Stretching to 5 years gives 0.55, with an annualized covariance of 1739.1 %².
Within FIX's tracked universe of 37 assets, MOD comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FIX ahead by 95.3 points (+128.0% versus +32.7%).
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.
FIX vs MOD: side by side
| FIX (Comfort Systems USA) | MOD (Modine Manufacturing Company) | |
|---|---|---|
| 1-year return | +128.0% | +32.7% |
| 5-year return | +2077.9% | +1391.7% |
| Volatility (ann.) | 47.4% | 59.1% |
| Beta vs S&P 500 | 1.74 | 1.87 |
| Max drawdown (3Y) | -46.0% | -51.6% |
| Market cap | $56.8B | $9.9B |
| P/E (trailing) | 39.8 | 70.0 |
| Dividend yield | 0.16% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | FIX | MOD |
|---|---|---|
| 2022 | +17.0% | +96.8% |
| 2023 | +79.6% | +200.6% |
| 2024 | +106.9% | +94.2% |
| 2025 | +120.9% | +15.2% |
| 2026 | +73.3% | +39.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIX and MOD good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FIX and MOD?
The FIX/MOD correlation stands at 0.62 on a 3-year window (1 year: 0.60, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is MOD a good diversifier for FIX?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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/fix-vs-mod.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fix-vs-mod/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FIX correlations · MOD correlations
