FIX vs TT: Correlation
Measured on weekly returns over the past three years, Comfort Systems USA (FIX) and Trane Technologies (TT) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIX and TT?
Across a 3-year window, the weekly returns of FIX and TT correlate at 0.61, strong. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Stretching to 5 years gives 0.61, with an annualized covariance of 810.0 %².
Among the 37 assets we track against FIX, TT ranks #15 by 3-year correlation. The last year tells two different stories: FIX led by 120.2 percentage points, +128.0% for FIX against +7.8% for TT. On a rolling one-year basis the correlation drifted between 0.44 and 0.80, a moderate band. Note the risk asymmetry: FIX runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TT: side by side
| FIX (Comfort Systems USA) | TT (Trane Technologies) | |
|---|---|---|
| 1-year return | +128.0% | +7.8% |
| 5-year return | +2077.9% | +141.4% |
| Volatility (ann.) | 47.4% | 27.8% |
| Beta vs S&P 500 | 1.74 | 1.19 |
| Max drawdown (3Y) | -46.0% | -24.4% |
| Market cap | $56.8B | $100.0B |
| P/E (trailing) | 39.8 | 33.8 |
| Dividend yield | 0.16% | 0.86% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | FIX | TT |
|---|---|---|
| 2022 | +17.0% | -15.3% |
| 2023 | +79.6% | +47.4% |
| 2024 | +106.9% | +53.0% |
| 2025 | +120.9% | +6.1% |
| 2026 | +73.3% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIX and TT good diversifiers for each other?
To a limited degree. At 0.61 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 TT?
The FIX/TT correlation stands at 0.61 on a 3-year window (1 year: 0.51, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is TT a good diversifier for FIX?
To a limited degree. At 0.61 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 0.61 mean?
On the −1 to +1 scale, 0.61 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-tt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fix-vs-tt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FIX correlations · TT correlations
