GLQ vs TT: Correlation
How closely do Clough Global Equity Fund (GLQ) and Trane Technologies (TT) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLQ and TT?
On 3 years of weekly data the GLQ/TT correlation comes out at 0.62, strong. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. The 5-year figure is 0.53, and annualized covariance runs at 284.2 %².
Within GLQ's tracked universe of 21 assets, TT comes in at #13 by 3-year correlation. Over the last 12 months GLQ came out ahead by 13.8 percentage points (+21.6% against +7.8%). Risk is not evenly split, since TT carries 1.7 times the volatility of the other side.
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.
GLQ vs TT: side by side
| GLQ (Clough Global Equity Fund) | TT (Trane Technologies) | |
|---|---|---|
| 1-year return | +21.6% | +7.8% |
| 5-year return | -3.8% | +141.4% |
| Volatility (ann.) | 16.6% | 27.8% |
| Beta vs S&P 500 | 1.00 | 1.19 |
| Max drawdown (3Y) | -19.2% | -24.4% |
| Market cap | – | $100.0B |
| P/E (trailing) | 2.7 | 33.8 |
| Dividend yield | 9.99% | 0.86% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | GLQ | TT |
|---|---|---|
| 2022 | -42.3% | -15.3% |
| 2023 | +2.8% | +47.4% |
| 2024 | +25.2% | +53.0% |
| 2025 | +28.5% | +6.1% |
| 2026 | +13.2% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLQ and TT good diversifiers for each other?
Only partially. A correlation of 0.62 means GLQ and TT 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 GLQ and TT?
As of 2026-08-27, the correlation of weekly returns between GLQ and TT is 0.62 over 3 years, 0.54 over 1 year and 0.53 over 5 years.
Is TT a good diversifier for GLQ?
Only partially. A correlation of 0.62 means GLQ and TT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 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/glq-vs-tt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/glq-vs-tt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GLQ correlations · TT correlations
