ITT vs LECO: Correlation
Measured on weekly returns over the past three years, ITT Inc. (ITT) and Lincoln Electric Holdings, Inc. (LECO) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITT and LECO?
Over the past 3 years, ITT and LECO moved with a correlation of 0.68, which is strong. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 520.3 %².
By 3-year correlation, LECO places #15 of the 38 assets tracked against ITT. Twelve-month performance is nearly a tie, at +20.8% for ITT and +18.4% for LECO.
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.
ITT vs LECO: side by side
| ITT (ITT Inc.) | LECO (Lincoln Electric Holdings, Inc.) | |
|---|---|---|
| 1-year return | +20.8% | +18.4% |
| 5-year return | +124.4% | +120.5% |
| Volatility (ann.) | 27.4% | 27.9% |
| Beta vs S&P 500 | 1.33 | 1.03 |
| Max drawdown (3Y) | -29.1% | -34.3% |
| Market cap | – | $15.8B |
| P/E (trailing) | 40.9 | 29.0 |
| Dividend yield | 0.70% | 1.08% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ITT | LECO |
|---|---|---|
| 2022 | -19.5% | +5.4% |
| 2023 | +48.9% | +52.6% |
| 2024 | +20.9% | -12.6% |
| 2025 | +22.5% | +29.6% |
| 2026 | +20.3% | +21.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITT and LECO good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ITT and LECO?
The ITT/LECO correlation stands at 0.68 on a 3-year window (1 year: 0.63, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is LECO a good diversifier for ITT?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
A reading of 0.68 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/itt-vs-leco.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/itt-vs-leco/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ITT correlations · LECO correlations
