GRC vs ITW: Correlation
Gorman-Rupp Company (The) (GRC) and Illinois Tool Works (ITW) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRC and ITW?
On 3 years of weekly data the GRC/ITW correlation comes out at 0.65, strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. The 5-year figure is 0.58, and annualized covariance runs at 380.6 %².
Few assets follow GRC as closely as ITW, which ranks #2 of 14 tracked partners. Their recent paths diverged sharply: over the last 12 months GRC outperformed by 74.2 percentage points (+82.4% for GRC against +8.2% for ITW). One caveat on sizing: GRC is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GRC vs ITW: side by side
| GRC (Gorman-Rupp Company (The)) | ITW (Illinois Tool Works) | |
|---|---|---|
| 1-year return | +82.4% | +8.2% |
| 5-year return | +143.0% | +36.1% |
| Volatility (ann.) | 30.6% | 19.0% |
| Beta vs S&P 500 | 0.85 | 0.64 |
| Max drawdown (3Y) | -26.9% | -20.6% |
| Market cap | $2.0B | $80.2B |
| P/E (trailing) | 32.7 | 25.8 |
| Dividend yield | 0.97% | 2.26% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | GRC | ITW |
|---|---|---|
| 2022 | -41.2% | -8.5% |
| 2023 | +42.2% | +21.6% |
| 2024 | +8.9% | -1.0% |
| 2025 | +28.2% | -0.4% |
| 2026 | +63.7% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRC and ITW good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GRC and ITW?
As of 2026-08-27, the correlation of weekly returns between GRC and ITW is 0.65 over 3 years, 0.71 over 1 year and 0.58 over 5 years.
Is ITW a good diversifier for GRC?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
A reading of 0.65 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/grc-vs-itw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grc-vs-itw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GRC correlations · ITW correlations
