IVV vs TT: Correlation
iShares Core S&P 500 ETF (IVV) and Trane Technologies (TT) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and TT?
Over the past 3 years, IVV and TT moved with a correlation of 0.62, which is strong. The link has loosened recently: the 1-year correlation (0.37) runs below the 3-year figure (0.62). Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 250.2 %².
Among the 122 assets we track against IVV, TT ranks #60 by 3-year correlation. The trailing year gives IVV the advantage: +20.7% versus +7.8%, a 12.9-point spread. The rolling one-year correlation moved between 0.35 and 0.75 over the past three years, a moderate range. One caveat on sizing: TT is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
IVV vs TT: side by side
| IVV (iShares Core S&P 500 ETF) | TT (Trane Technologies) | |
|---|---|---|
| 1-year return | +20.7% | +7.8% |
| 5-year return | +83.0% | +141.4% |
| Volatility (ann.) | 14.5% | 27.8% |
| Beta vs S&P 500 | 1.00 | 1.19 |
| Max drawdown (3Y) | -18.8% | -24.4% |
| Market cap | – | $100.0B |
| P/E (trailing) | – | 33.8 |
| Dividend yield | 1.09% | 0.86% |
| Expense ratio | 0.03% | – |
| Assets under management | $869.2B | – |
| Sector / category | ETF · US Large Cap | Industrials |
IVV, iShares's Large Blend fund, carries $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield.
Year-by-year returns
| Year | IVV | TT |
|---|---|---|
| 2022 | -18.2% | -15.3% |
| 2023 | +26.3% | +47.4% |
| 2024 | +24.9% | +53.0% |
| 2025 | +17.8% | +6.1% |
| 2026 | +13.7% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.15% of IVV is TT itself, so the fund partly moves with the stock by construction.
Are IVV and TT good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IVV and TT?
As of 2026-08-27, the correlation of weekly returns between IVV and TT is 0.62 over 3 years, 0.37 over 1 year and 0.65 over 5 years.
Is TT a good diversifier for IVV?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 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/ivv-vs-tt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ivv-vs-tt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IVV correlations · TT correlations
