GTES vs JCI: Correlation
How closely do Gates Industrial Corporation Ltd. (GTES) and Johnson Controls (JCI) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTES and JCI?
Across a 3-year window, the weekly returns of GTES and JCI correlate at 0.57, moderate. The past 12 months show a weaker link (0.39) than the 3-year average (0.57). Stretching to 5 years gives 0.56, with an annualized covariance of 560.5 %².
Within GTES's tracked universe of 22 assets, JCI comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months JCI outperformed by 29.4 percentage points (+1.5% for GTES against +30.9% for JCI).
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.
GTES vs JCI: side by side
| GTES (Gates Industrial Corporation Ltd.) | JCI (Johnson Controls) | |
|---|---|---|
| 1-year return | +1.5% | +30.9% |
| 5-year return | +56.6% | +108.2% |
| Volatility (ann.) | 35.0% | 28.1% |
| Beta vs S&P 500 | 1.27 | 0.98 |
| Max drawdown (3Y) | -33.8% | -21.1% |
| Market cap | $6.7B | $86.1B |
| P/E (trailing) | 18.8 | 40.1 |
| Dividend yield | 0.00% | 1.11% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | GTES | JCI |
|---|---|---|
| 2022 | -28.3% | -19.3% |
| 2023 | +17.6% | -7.6% |
| 2024 | +53.3% | +39.8% |
| 2025 | +4.4% | +53.0% |
| 2026 | +22.9% | +19.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTES and JCI good diversifiers for each other?
Only partially. A correlation of 0.57 means GTES and JCI 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 GTES and JCI?
As of 2026-08-27, the correlation of weekly returns between GTES and JCI is 0.57 over 3 years, 0.39 over 1 year and 0.56 over 5 years.
Is JCI a good diversifier for GTES?
Only partially. A correlation of 0.57 means GTES and JCI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 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/gtes-vs-jci.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gtes-vs-jci/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GTES correlations · JCI correlations
