GRMN vs ITRI: Correlation
Garmin (GRMN) and Itron, Inc. (ITRI) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRMN and ITRI?
On 3 years of weekly data the GRMN/ITRI correlation comes out at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 789.3 %².
ITRI is one of the assets that tracks GRMN most closely: it ranks #1 out of the 36 assets we track against GRMN. Their recent paths diverged sharply: over the last 12 months GRMN outperformed by 45.0 percentage points (+25.1% for GRMN against -19.9% for ITRI).
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.
GRMN vs ITRI: side by side
| GRMN (Garmin) | ITRI (Itron, Inc.) | |
|---|---|---|
| 1-year return | +25.1% | -19.9% |
| 5-year return | +80.9% | +17.0% |
| Volatility (ann.) | 34.7% | 38.9% |
| Beta vs S&P 500 | 1.06 | 1.14 |
| Max drawdown (3Y) | -28.0% | -43.6% |
| Market cap | $55.9B | $4.3B |
| P/E (trailing) | 29.9 | 16.5 |
| Dividend yield | 1.45% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | GRMN | ITRI |
|---|---|---|
| 2022 | -30.2% | -26.1% |
| 2023 | +43.1% | +49.1% |
| 2024 | +63.3% | +43.8% |
| 2025 | -0.1% | -14.5% |
| 2026 | +44.1% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRMN and ITRI good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GRMN and ITRI?
As of 2026-08-27, the correlation of weekly returns between GRMN and ITRI is 0.59 over 3 years, 0.68 over 1 year and 0.56 over 5 years.
Is ITRI a good diversifier for GRMN?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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/grmn-vs-itri.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grmn-vs-itri/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GRMN correlations · ITRI correlations
