GGG vs OTIS: Correlation
How closely do Graco Inc. (GGG) and Otis Worldwide (OTIS) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGG and OTIS?
Over the past 3 years, GGG and OTIS moved with a correlation of 0.56, which is moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 204.2 %².
Within GGG's tracked universe of 26 assets, OTIS comes in at #17 by 3-year correlation. The trailing year gives GGG the advantage: -7.2% versus -16.8%, a 9.6-point spread.
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 OTIS: side by side
| GGG (Graco Inc.) | OTIS (Otis Worldwide) | |
|---|---|---|
| 1-year return | -7.2% | -16.8% |
| 5-year return | +7.7% | -15.9% |
| Volatility (ann.) | 19.0% | 19.1% |
| Beta vs S&P 500 | 0.70 | 0.59 |
| Max drawdown (3Y) | -22.6% | -32.4% |
| Market cap | $12.9B | $27.2B |
| P/E (trailing) | 25.0 | 18.4 |
| Dividend yield | 1.46% | 2.35% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | GGG | OTIS |
|---|---|---|
| 2022 | -15.5% | -8.8% |
| 2023 | +30.6% | +16.0% |
| 2024 | -1.7% | +5.2% |
| 2025 | -1.5% | -4.0% |
| 2026 | -1.8% | -16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGG and OTIS good diversifiers for each other?
Only partially. A correlation of 0.56 means GGG and OTIS 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 OTIS?
As of 2026-08-27, the correlation of weekly returns between GGG and OTIS is 0.56 over 3 years, 0.48 over 1 year and 0.65 over 5 years.
Is OTIS a good diversifier for GGG?
Only partially. A correlation of 0.56 means GGG and OTIS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
A reading of 0.56 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GGG correlations · OTIS correlations
