GWW vs TT: Correlation
Measured on weekly returns over the past three years, W. W. Grainger (GWW) and Trane Technologies (TT) 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 GWW and TT?
Across a 3-year window, the weekly returns of GWW and TT correlate at 0.57, moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.57). Stretching to 5 years gives 0.62, with an annualized covariance of 368.7 %².
By 3-year correlation, TT places #4 of the 29 assets tracked against GWW. Correlation aside, the last 12 months split them widely, with GWW ahead by 23.2 points (+31.0% versus +7.8%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.20 and 0.78 over the past three years, so this pair behaves very differently depending on the market environment.
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.
GWW vs TT: side by side
| GWW (W. W. Grainger) | TT (Trane Technologies) | |
|---|---|---|
| 1-year return | +31.0% | +7.8% |
| 5-year return | +219.4% | +141.4% |
| Volatility (ann.) | 23.3% | 27.8% |
| Beta vs S&P 500 | 0.74 | 1.19 |
| Max drawdown (3Y) | -24.5% | -24.4% |
| Market cap | $62.2B | $100.0B |
| P/E (trailing) | 34.0 | 33.8 |
| Dividend yield | 0.69% | 0.86% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | GWW | TT |
|---|---|---|
| 2022 | +8.7% | -15.3% |
| 2023 | +50.5% | +47.4% |
| 2024 | +28.2% | +53.0% |
| 2025 | -3.4% | +6.1% |
| 2026 | +31.7% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWW and TT good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GWW and TT?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.21 over the last year and 0.62 over 5 years.
Is TT a good diversifier for GWW?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 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/gww-vs-tt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gww-vs-tt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GWW correlations · TT correlations
