IFF vs TRT: Correlation
How closely do International Flavors & Fragrances (IFF) and Trio-Tech International (TRT) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IFF and TRT?
Over the past 3 years, IFF and TRT moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.19 over 3. Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is -595.6 %².
Among the 32 assets we track against IFF, TRT ranks #25 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TRT ahead by 262.3 points (+33.2% versus +295.5%). Risk is not evenly split, since TRT carries 3.6 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.
IFF vs TRT: side by side
| IFF (International Flavors & Fragrances) | TRT (Trio-Tech International) | |
|---|---|---|
| 1-year return | +33.2% | +295.5% |
| 5-year return | -34.3% | +365.8% |
| Volatility (ann.) | 29.5% | 107.4% |
| Beta vs S&P 500 | 0.69 | 0.18 |
| Max drawdown (3Y) | -42.6% | -54.6% |
| Market cap | $22.2B | – |
| P/E (trailing) | – | 209.6 |
| Dividend yield | 1.84% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | IFF | TRT |
|---|---|---|
| 2022 | -28.3% | -66.5% |
| 2023 | -19.5% | +12.7% |
| 2024 | +6.3% | +14.6% |
| 2025 | -18.4% | +127.9% |
| 2026 | +30.3% | +58.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IFF and TRT good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between IFF and TRT?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.27 over the last year and -0.06 over 5 years.
Is TRT a good diversifier for IFF?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/iff-vs-trt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iff-vs-trt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IFF correlations · TRT correlations
