GGG vs ITW: Correlation
How closely do Graco Inc. (GGG) and Illinois Tool Works (ITW) trade together? Their weekly returns over three years give a correlation of 0.77, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGG and ITW?
Over the past 3 years, GGG and ITW moved with a correlation of 0.77, which is strong. Little has changed lately, as the 1-year reading of 0.76 lands near the 3-year figure. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 279.1 %².
ITW is one of the assets that tracks GGG most closely: it ranks #1 out of the 26 assets we track against GGG. Their recent paths diverged sharply: over the last 12 months ITW outperformed by 15.4 percentage points (-7.2% for GGG against +8.2% for ITW).
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.
GGG vs ITW: side by side
| GGG (Graco Inc.) | ITW (Illinois Tool Works) | |
|---|---|---|
| 1-year return | -7.2% | +8.2% |
| 5-year return | +7.7% | +36.1% |
| Volatility (ann.) | 19.0% | 19.0% |
| Beta vs S&P 500 | 0.70 | 0.64 |
| Max drawdown (3Y) | -22.6% | -20.6% |
| Market cap | $12.9B | $80.2B |
| P/E (trailing) | 25.0 | 25.8 |
| Dividend yield | 1.46% | 2.26% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | GGG | ITW |
|---|---|---|
| 2022 | -15.5% | -8.5% |
| 2023 | +30.6% | +21.6% |
| 2024 | -1.7% | -1.0% |
| 2025 | -1.5% | -0.4% |
| 2026 | -1.8% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGG and ITW good diversifiers for each other?
Only partially. A correlation of 0.77 means GGG and ITW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GGG and ITW?
The GGG/ITW correlation stands at 0.77 on a 3-year window (1 year: 0.76, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is ITW a good diversifier for GGG?
Only partially. A correlation of 0.77 means GGG and ITW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.77 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/ggg-vs-itw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ggg-vs-itw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GGG correlations · ITW correlations
