ITW vs RUSHB: Correlation
How closely do Illinois Tool Works (ITW) and Rush Enterprises, Inc. (RUSHB) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITW and RUSHB?
Over the past 3 years, ITW and RUSHB moved with a correlation of 0.63, which is strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 369.3 %².
By 3-year correlation, RUSHB places #26 of the 81 assets tracked against ITW. Their recent paths diverged sharply: over the last 12 months RUSHB outperformed by 23.4 percentage points (+8.2% for ITW against +31.6% for RUSHB). Note the risk asymmetry: RUSHB 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 RUSHB: side by side
| ITW (Illinois Tool Works) | RUSHB (Rush Enterprises, Inc.) | |
|---|---|---|
| 1-year return | +8.2% | +31.6% |
| 5-year return | +36.1% | +185.6% |
| Volatility (ann.) | 19.0% | 30.8% |
| Beta vs S&P 500 | 0.64 | 0.88 |
| Max drawdown (3Y) | -20.6% | -28.5% |
| Market cap | $80.2B | $9.0B |
| P/E (trailing) | 25.8 | 23.1 |
| Dividend yield | 2.26% | 0.99% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ITW | RUSHB |
|---|---|---|
| 2022 | -8.5% | +5.9% |
| 2023 | +21.6% | +43.4% |
| 2024 | -1.0% | +4.3% |
| 2025 | -0.4% | +4.8% |
| 2026 | +15.8% | +38.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITW and RUSHB good diversifiers for each other?
Only partially. A correlation of 0.63 means ITW and RUSHB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ITW and RUSHB?
As of 2026-08-27, the correlation of weekly returns between ITW and RUSHB is 0.63 over 3 years, 0.66 over 1 year and 0.54 over 5 years.
Is RUSHB a good diversifier for ITW?
Only partially. A correlation of 0.63 means ITW and RUSHB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 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-rushb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/itw-vs-rushb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ITW correlations · RUSHB correlations
