IMKTA vs ITW: Correlation
Ingles Markets, Incorporated (IMKTA) and Illinois Tool Works (ITW) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IMKTA and ITW?
On 3 years of weekly data the IMKTA/ITW correlation comes out at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. The 5-year figure is 0.44, and annualized covariance runs at 228.9 %².
By 3-year correlation, ITW places #4 of the 13 assets tracked against IMKTA. On 12-month performance IMKTA holds a 14.3-point edge, +22.5% against +8.2%.
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.
IMKTA vs ITW: side by side
| IMKTA (Ingles Markets, Incorporated) | ITW (Illinois Tool Works) | |
|---|---|---|
| 1-year return | +22.5% | +8.2% |
| 5-year return | +28.3% | +36.1% |
| Volatility (ann.) | 24.9% | 19.0% |
| Beta vs S&P 500 | 0.17 | 0.64 |
| Max drawdown (3Y) | -32.0% | -20.6% |
| Market cap | $1.6B | $80.2B |
| P/E (trailing) | 15.2 | 25.8 |
| Dividend yield | 0.79% | 2.26% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | IMKTA | ITW |
|---|---|---|
| 2022 | +12.6% | -8.5% |
| 2023 | -9.8% | +21.6% |
| 2024 | -24.7% | -1.0% |
| 2025 | +7.4% | -0.4% |
| 2026 | +20.7% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IMKTA and ITW good diversifiers for each other?
Reasonably. At 0.48, IMKTA and ITW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IMKTA and ITW?
As of 2026-08-27, the correlation of weekly returns between IMKTA and ITW is 0.48 over 3 years, 0.42 over 1 year and 0.44 over 5 years.
Is ITW a good diversifier for IMKTA?
Reasonably. At 0.48, IMKTA and ITW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 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/imkta-vs-itw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/imkta-vs-itw/)
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Related comparisons
Hubs: IMKTA correlations · ITW correlations
