ITW vs RUSHA: Correlation
Measured on weekly returns over the past three years, Illinois Tool Works (ITW) and Rush Enterprises, Inc. (RUSHA) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITW and RUSHA?
Across a 3-year window, the weekly returns of ITW and RUSHA correlate at 0.61, strong. Recent behaviour matches the longer record: 0.60 over 1 year against 0.61 over 3. Stretching to 5 years gives 0.59, with an annualized covariance of 366.1 %².
Within ITW's tracked universe of 81 assets, RUSHA comes in at #29 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RUSHA ahead by 23.6 points (+8.2% versus +31.8%). Note the risk asymmetry: RUSHA runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 RUSHA: side by side
| ITW (Illinois Tool Works) | RUSHA (Rush Enterprises, Inc.) | |
|---|---|---|
| 1-year return | +8.2% | +31.8% |
| 5-year return | +36.1% | +177.5% |
| Volatility (ann.) | 19.0% | 31.3% |
| Beta vs S&P 500 | 0.64 | 0.93 |
| Max drawdown (3Y) | -20.6% | -26.8% |
| Market cap | $80.2B | $8.3B |
| P/E (trailing) | 25.8 | 23.2 |
| Dividend yield | 2.26% | 0.99% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ITW | RUSHA |
|---|---|---|
| 2022 | -8.5% | -4.5% |
| 2023 | +21.6% | +46.7% |
| 2024 | -1.0% | +10.4% |
| 2025 | -0.4% | -0.2% |
| 2026 | +15.8% | +42.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITW and RUSHA good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ITW and RUSHA?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.60 over the last year and 0.59 over 5 years.
Is RUSHA a good diversifier for ITW?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 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-rusha.json
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Related comparisons
Hubs: ITW correlations · RUSHA correlations
