ITW vs STZ: Correlation
How closely do Illinois Tool Works (ITW) and Constellation Brands (STZ) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITW and STZ?
Across a 3-year window, the weekly returns of ITW and STZ correlate at 0.43, moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. Stretching to 5 years gives 0.43, with an annualized covariance of 216.0 %².
By 3-year correlation, STZ places #63 of the 81 assets tracked against ITW. Correlation aside, the last 12 months split them widely, with ITW ahead by 23.9 points (+8.2% versus -15.7%). Across three years, the rolling one-year figure varied moderately, from 0.22 to 0.56.
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 STZ: side by side
| ITW (Illinois Tool Works) | STZ (Constellation Brands) | |
|---|---|---|
| 1-year return | +8.2% | -15.7% |
| 5-year return | +36.1% | -31.9% |
| Volatility (ann.) | 19.0% | 26.6% |
| Beta vs S&P 500 | 0.64 | 0.41 |
| Max drawdown (3Y) | -20.6% | -51.3% |
| Market cap | $80.2B | $22.4B |
| P/E (trailing) | 25.8 | 12.8 |
| Dividend yield | 2.26% | 3.04% |
| Sector / category | Industrials | Consumer Staples |
Year-by-year returns
| Year | ITW | STZ |
|---|---|---|
| 2022 | -8.5% | -6.4% |
| 2023 | +21.6% | +5.8% |
| 2024 | -1.0% | -7.1% |
| 2025 | -0.4% | -36.0% |
| 2026 | +15.8% | -2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITW and STZ good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ITW and STZ?
As of 2026-08-27, the correlation of weekly returns between ITW and STZ is 0.43 over 3 years, 0.38 over 1 year and 0.43 over 5 years.
Is STZ a good diversifier for ITW?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 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-stz.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/itw-vs-stz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ITW correlations · STZ correlations
