JCSE vs TT: Correlation
Measured on weekly returns over the past three years, JE Cleantech Holdings Limited (JCSE) and Trane Technologies (TT) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JCSE and TT?
On 3 years of weekly data the JCSE/TT correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.14) sits close to the 3-year figure. The 5-year figure is -0.12, and annualized covariance runs at -651.5 %².
TT is close to the least connected end of JCSE's tracked universe, ranking #11 of 14. The last year tells two different stories: JCSE led by 98.1 percentage points, +105.9% for JCSE against +7.8% for TT. Risk is not evenly split, since JCSE carries 4.4 times the volatility of the other side.
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.
JCSE vs TT: side by side
| JCSE (JE Cleantech Holdings Limited) | TT (Trane Technologies) | |
|---|---|---|
| 1-year return | +105.9% | +7.8% |
| 5-year return | -96.2% | +141.4% |
| Volatility (ann.) | 123.3% | 27.8% |
| Beta vs S&P 500 | 0.09 | 1.19 |
| Max drawdown (3Y) | -64.2% | -24.4% |
| Market cap | – | $100.0B |
| P/E (trailing) | 3.1 | 33.8 |
| Dividend yield | 36.52% | 0.86% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | JCSE | TT |
|---|---|---|
| 2022 | – | -15.3% |
| 2023 | -66.0% | +47.4% |
| 2024 | +92.4% | +53.0% |
| 2025 | -23.1% | +6.1% |
| 2026 | +94.2% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JCSE and TT good diversifiers for each other?
Yes. With a correlation of -0.19, JCSE and TT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JCSE and TT?
The JCSE/TT correlation stands at -0.19 on a 3-year window (1 year: -0.14, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is TT a good diversifier for JCSE?
Yes. With a correlation of -0.19, JCSE and TT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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/jcse-vs-tt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/jcse-vs-tt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JCSE correlations · TT correlations
