IEX vs SNA: Correlation
Measured on weekly returns over the past three years, IDEX Corporation (IEX) and Snap-on (SNA) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEX and SNA?
On 3 years of weekly data the IEX/SNA correlation comes out at 0.54, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 269.3 %².
Among the 40 assets we track against IEX, SNA ranks #24 by 3-year correlation. The last year tells two different stories: IEX led by 19.9 percentage points, +43.0% for IEX against +23.1% for SNA. On a rolling one-year basis the correlation drifted between 0.28 and 0.69, a moderate band.
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.
IEX vs SNA: side by side
| IEX (IDEX Corporation) | SNA (Snap-on) | |
|---|---|---|
| 1-year return | +43.0% | +23.1% |
| 5-year return | +10.5% | +99.6% |
| Volatility (ann.) | 23.3% | 21.3% |
| Beta vs S&P 500 | 0.89 | 0.70 |
| Max drawdown (3Y) | -34.6% | -20.8% |
| Market cap | $17.2B | $20.5B |
| P/E (trailing) | 33.8 | 20.2 |
| Dividend yield | 1.23% | 2.38% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | IEX | SNA |
|---|---|---|
| 2022 | -2.2% | +8.9% |
| 2023 | -3.8% | +29.7% |
| 2024 | -2.4% | +20.7% |
| 2025 | -13.7% | +4.3% |
| 2026 | +32.9% | +17.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEX and SNA good diversifiers for each other?
Only partially. A correlation of 0.54 means IEX and SNA 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 IEX and SNA?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.46 over the last year and 0.54 over 5 years.
Is SNA a good diversifier for IEX?
Only partially. A correlation of 0.54 means IEX and SNA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 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/iex-vs-sna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iex-vs-sna/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IEX correlations · SNA correlations
