GEV vs TT: Correlation
GE Vernova (GEV) and Trane Technologies (TT) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEV and TT?
Over the past 3 years, GEV and TT moved with a correlation of 0.59, which is moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.59 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 730.8 %².
Within GEV's tracked universe of 33 assets, TT comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GEV ahead by 45.8 points (+53.6% versus +7.8%). The rolling one-year correlation moved between 0.46 and 0.74 over the past three years, a moderate range. One caveat on sizing: GEV is 1.6 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.
GEV vs TT: side by side
| GEV (GE Vernova) | TT (Trane Technologies) | |
|---|---|---|
| 1-year return | +53.6% | +7.8% |
| 5-year return | n/a | +141.4% |
| Volatility (ann.) | 45.8% | 27.8% |
| Beta vs S&P 500 | 1.42 | 1.19 |
| Max drawdown (3Y) | -38.3% | -24.4% |
| Market cap | $254.0B | $100.0B |
| P/E (trailing) | 27.3 | 33.8 |
| Dividend yield | 0.18% | 0.86% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | GEV | TT |
|---|---|---|
| 2022 | – | -15.3% |
| 2023 | – | +47.4% |
| 2024 | – | +53.0% |
| 2025 | +99.0% | +6.1% |
| 2026 | +46.2% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEV and TT good diversifiers for each other?
To a limited degree. At 0.59 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 GEV and TT?
As of 2026-08-27, the correlation of weekly returns between GEV and TT is 0.59 over 3 years, 0.50 over 1 year and n/a over 5 years.
Is TT a good diversifier for GEV?
To a limited degree. At 0.59 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 0.59 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gev-vs-tt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gev-vs-tt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GEV correlations · TT correlations
