ITW vs YHGJ: Correlation
Measured on weekly returns over the past three years, Illinois Tool Works (ITW) and Yunhong Green CTI Ltd. (YHGJ) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITW and YHGJ?
On 3 years of weekly data the ITW/YHGJ correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.37) runs below the 3-year figure (-0.25). The 5-year figure is -0.11, and annualized covariance runs at -439.4 %².
YHGJ is close to the least connected end of ITW's tracked universe, ranking #79 of 81. The last year tells two different stories: ITW led by 53.1 percentage points, +8.2% for ITW against -44.9% for YHGJ. Note the risk asymmetry: YHGJ runs 4.8 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 YHGJ: side by side
| ITW (Illinois Tool Works) | YHGJ (Yunhong Green CTI Ltd.) | |
|---|---|---|
| 1-year return | +8.2% | -44.9% |
| 5-year return | +36.1% | -85.6% |
| Volatility (ann.) | 19.0% | 90.5% |
| Beta vs S&P 500 | 0.64 | -0.69 |
| Max drawdown (3Y) | -20.6% | -91.7% |
| Market cap | $80.2B | – |
| P/E (trailing) | 25.8 | – |
| Dividend yield | 2.26% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ITW | YHGJ |
|---|---|---|
| 2022 | -8.5% | -12.6% |
| 2023 | +21.6% | +105.8% |
| 2024 | -1.0% | -74.3% |
| 2025 | -0.4% | -34.0% |
| 2026 | +15.8% | -19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITW and YHGJ good diversifiers for each other?
Yes. With a correlation of -0.25, ITW and YHGJ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ITW and YHGJ?
The ITW/YHGJ correlation stands at -0.25 on a 3-year window (1 year: -0.37, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is YHGJ a good diversifier for ITW?
Yes. With a correlation of -0.25, ITW and YHGJ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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-yhgj.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/itw-vs-yhgj/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ITW correlations · YHGJ correlations
