HOFT vs ITW: Correlation
How closely do Hooker Furnishings Corporation (HOFT) and Illinois Tool Works (ITW) 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 HOFT and ITW?
Across a 3-year window, the weekly returns of HOFT and ITW correlate at 0.57, moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.57 over 3. Stretching to 5 years gives 0.47, with an annualized covariance of 585.0 %².
By 3-year correlation, ITW places #5 of the 12 assets tracked against HOFT. Their recent paths diverged sharply: over the last 12 months HOFT outperformed by 30.7 percentage points (+38.9% for HOFT against +8.2% for ITW). Risk is not evenly split, since HOFT carries 2.8 times the volatility of the other side.
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.
HOFT vs ITW: side by side
| HOFT (Hooker Furnishings Corporation) | ITW (Illinois Tool Works) | |
|---|---|---|
| 1-year return | +38.9% | +8.2% |
| 5-year return | -46.3% | +36.1% |
| Volatility (ann.) | 53.9% | 19.0% |
| Beta vs S&P 500 | 1.11 | 0.64 |
| Max drawdown (3Y) | -69.9% | -20.6% |
| Market cap | $0.1B | $80.2B |
| P/E (trailing) | – | 25.8 |
| Dividend yield | 5.02% | 2.26% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | HOFT | ITW |
|---|---|---|
| 2022 | -15.7% | -8.5% |
| 2023 | +45.7% | +21.6% |
| 2024 | -43.3% | -1.0% |
| 2025 | -13.3% | -0.4% |
| 2026 | +21.2% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOFT 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 HOFT and ITW?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.54 over the last year and 0.47 over 5 years.
Is ITW a good diversifier for HOFT?
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?
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/hoft-vs-itw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hoft-vs-itw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HOFT correlations · ITW correlations
