ITW vs LNN: Correlation
Illinois Tool Works (ITW) and Lindsay Corporation (LNN) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITW and LNN?
Across a 3-year window, the weekly returns of ITW and LNN correlate at 0.49, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Stretching to 5 years gives 0.48, with an annualized covariance of 252.8 %².
Among the 81 assets we track against ITW, LNN ranks #55 by 3-year correlation. The last year tells two different stories: ITW led by 25.8 percentage points, +8.2% for ITW against -17.6% for LNN.
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.
ITW vs LNN: side by side
| ITW (Illinois Tool Works) | LNN (Lindsay Corporation) | |
|---|---|---|
| 1-year return | +8.2% | -17.6% |
| 5-year return | +36.1% | -27.8% |
| Volatility (ann.) | 19.0% | 26.8% |
| Beta vs S&P 500 | 0.64 | 0.46 |
| Max drawdown (3Y) | -20.6% | -30.0% |
| Market cap | $80.2B | $1.2B |
| P/E (trailing) | 25.8 | 21.9 |
| Dividend yield | 2.26% | 1.30% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ITW | LNN |
|---|---|---|
| 2022 | -8.5% | +8.1% |
| 2023 | +21.6% | -19.8% |
| 2024 | -1.0% | -7.3% |
| 2025 | -0.4% | +0.8% |
| 2026 | +15.8% | -2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITW and LNN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ITW and LNN?
The ITW/LNN correlation stands at 0.49 on a 3-year window (1 year: 0.53, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is LNN a good diversifier for ITW?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 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/itw-vs-lnn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/itw-vs-lnn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ITW correlations · LNN correlations
