GPC vs ITW: Correlation
Measured on weekly returns over the past three years, Genuine Parts Company (GPC) and Illinois Tool Works (ITW) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPC and ITW?
Over the past 3 years, GPC and ITW moved with a correlation of 0.57, which is moderate. Recent behaviour matches the longer record: 0.60 over 1 year against 0.57 over 3. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 349.5 %².
Few assets follow GPC as closely as ITW, which ranks #3 of 36 tracked partners. On 12-month performance ITW holds a 6.9-point edge, +1.3% against +8.2%. The rolling one-year correlation moved between 0.34 and 0.66 over the past three years, a moderate range. Note the risk asymmetry: GPC runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GPC vs ITW: side by side
| GPC (Genuine Parts Company) | ITW (Illinois Tool Works) | |
|---|---|---|
| 1-year return | +1.3% | +8.2% |
| 5-year return | +27.6% | +36.1% |
| Volatility (ann.) | 31.9% | 19.0% |
| Beta vs S&P 500 | 0.66 | 0.64 |
| Max drawdown (3Y) | -39.7% | -20.6% |
| Market cap | $18.8B | $80.2B |
| P/E (trailing) | 546.8 | 25.8 |
| Dividend yield | 3.00% | 2.26% |
| Sector / category | Consumer Discretionary | Industrials |
Year-by-year returns
| Year | GPC | ITW |
|---|---|---|
| 2022 | +26.8% | -8.5% |
| 2023 | -18.1% | +21.6% |
| 2024 | -13.2% | -1.0% |
| 2025 | +8.7% | -0.4% |
| 2026 | +13.4% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPC and ITW good diversifiers for each other?
To a limited degree. At 0.57 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 GPC and ITW?
The GPC/ITW correlation stands at 0.57 on a 3-year window (1 year: 0.60, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is ITW a good diversifier for GPC?
To a limited degree. At 0.57 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 0.57 mean?
On the −1 to +1 scale, 0.57 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gpc-vs-itw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gpc-vs-itw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GPC correlations · ITW correlations
