GGG vs WTS: Correlation
Measured on weekly returns over the past three years, Graco Inc. (GGG) and Watts Water Technologies, Inc. (WTS) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGG and WTS?
Over the past 3 years, GGG and WTS moved with a correlation of 0.68, which is strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.68 over 3. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 320.6 %².
Among the 26 assets we track against GGG, WTS ranks #6 by 3-year correlation. The last year tells two different stories: WTS led by 39.1 percentage points, -7.2% for GGG against +31.9% for WTS.
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 WTS: side by side
| GGG (Graco Inc.) | WTS (Watts Water Technologies, Inc.) | |
|---|---|---|
| 1-year return | -7.2% | +31.9% |
| 5-year return | +7.7% | +125.4% |
| Volatility (ann.) | 19.0% | 24.6% |
| Beta vs S&P 500 | 0.70 | 0.89 |
| Max drawdown (3Y) | -22.6% | -19.5% |
| Market cap | $12.9B | $12.4B |
| P/E (trailing) | 25.0 | 32.5 |
| Dividend yield | 1.46% | 0.58% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGG | WTS |
|---|---|---|
| 2022 | -15.5% | -24.1% |
| 2023 | +30.6% | +43.6% |
| 2024 | -1.7% | -1.6% |
| 2025 | -1.5% | +36.8% |
| 2026 | -1.8% | +35.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGG and WTS good diversifiers for each other?
Only partially. A correlation of 0.68 means GGG and WTS 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 WTS?
As of 2026-08-27, the correlation of weekly returns between GGG and WTS is 0.68 over 3 years, 0.67 over 1 year and 0.67 over 5 years.
Is WTS a good diversifier for GGG?
Only partially. A correlation of 0.68 means GGG and WTS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
A reading of 0.68 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 · WTS correlations
