IEX vs TXT: Correlation
Measured on weekly returns over the past three years, IDEX Corporation (IEX) and Textron (TXT) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEX and TXT?
Across a 3-year window, the weekly returns of IEX and TXT correlate at 0.55, moderate. The link has loosened recently: the 1-year correlation (0.39) runs below the 3-year figure (0.55). Stretching to 5 years gives 0.58, with an annualized covariance of 327.5 %².
Among the 40 assets we track against IEX, TXT ranks #23 by 3-year correlation. The last year tells two different stories: IEX led by 42.3 percentage points, +43.0% for IEX against +0.7% for TXT. The rolling one-year correlation moved between 0.39 and 0.72 over the past three years, a moderate range.
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 TXT: side by side
| IEX (IDEX Corporation) | TXT (Textron) | |
|---|---|---|
| 1-year return | +43.0% | +0.7% |
| 5-year return | +10.5% | +15.1% |
| Volatility (ann.) | 23.3% | 25.4% |
| Beta vs S&P 500 | 0.89 | 0.89 |
| Max drawdown (3Y) | -34.6% | -37.3% |
| Market cap | $17.2B | $14.2B |
| P/E (trailing) | 33.8 | 15.7 |
| Dividend yield | 1.23% | 0.10% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | IEX | TXT |
|---|---|---|
| 2022 | -2.2% | -8.2% |
| 2023 | -3.8% | +13.7% |
| 2024 | -2.4% | -4.8% |
| 2025 | -13.7% | +14.1% |
| 2026 | +32.9% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEX and TXT good diversifiers for each other?
Only partially. A correlation of 0.55 means IEX and TXT 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 TXT?
The IEX/TXT correlation stands at 0.55 on a 3-year window (1 year: 0.39, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is TXT a good diversifier for IEX?
Only partially. A correlation of 0.55 means IEX and TXT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/iex-vs-txt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iex-vs-txt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IEX correlations · TXT correlations
