GFF vs MTW: Correlation
Measured on weekly returns over the past three years, Griffon Corporation (GFF) and Manitowoc Company, Inc. (The) (MTW) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GFF and MTW?
Over the past 3 years, GFF and MTW moved with a correlation of 0.63, which is strong. Little has changed lately, as the 1-year reading of 0.73 lands near the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 1317.3 %².
Within GFF's tracked universe of 26 assets, MTW comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MTW ahead by 59.6 points (+28.4% versus +88.0%).
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.
GFF vs MTW: side by side
| GFF (Griffon Corporation) | MTW (Manitowoc Company, Inc. (The)) | |
|---|---|---|
| 1-year return | +28.4% | +88.0% |
| 5-year return | +396.8% | -22.9% |
| Volatility (ann.) | 38.7% | 53.7% |
| Beta vs S&P 500 | 1.14 | 1.63 |
| Max drawdown (3Y) | -27.9% | -58.5% |
| Market cap | $4.5B | $0.7B |
| P/E (trailing) | 21.1 | 34.6 |
| Dividend yield | 0.83% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GFF | MTW |
|---|---|---|
| 2022 | +36.9% | -50.7% |
| 2023 | +84.0% | +82.2% |
| 2024 | +18.0% | -45.3% |
| 2025 | +4.4% | +31.3% |
| 2026 | +35.4% | +58.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GFF and MTW good diversifiers for each other?
To a limited degree. At 0.63 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 GFF and MTW?
As of 2026-08-27, the correlation of weekly returns between GFF and MTW is 0.63 over 3 years, 0.73 over 1 year and 0.54 over 5 years.
Is MTW a good diversifier for GFF?
To a limited degree. At 0.63 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 0.63 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/gff-vs-mtw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gff-vs-mtw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GFF correlations · MTW correlations
