MOD vs TT: Correlation
Measured on weekly returns over the past three years, Modine Manufacturing Company (MOD) and Trane Technologies (TT) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MOD and TT?
Across a 3-year window, the weekly returns of MOD and TT correlate at 0.58, moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 956.8 %².
Among the 15 assets we track against MOD, TT ranks #5 by 3-year correlation. The last year tells two different stories: MOD led by 24.9 percentage points, +32.7% for MOD against +7.8% for TT. Risk is not evenly split, since MOD carries 2.1 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.
MOD vs TT: side by side
| MOD (Modine Manufacturing Company) | TT (Trane Technologies) | |
|---|---|---|
| 1-year return | +32.7% | +7.8% |
| 5-year return | +1391.7% | +141.4% |
| Volatility (ann.) | 59.1% | 27.8% |
| Beta vs S&P 500 | 1.87 | 1.19 |
| Max drawdown (3Y) | -51.6% | -24.4% |
| Market cap | $9.9B | $100.0B |
| P/E (trailing) | 70.0 | 33.8 |
| Dividend yield | 0.00% | 0.86% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | MOD | TT |
|---|---|---|
| 2022 | +96.8% | -15.3% |
| 2023 | +200.6% | +47.4% |
| 2024 | +94.2% | +53.0% |
| 2025 | +15.2% | +6.1% |
| 2026 | +39.5% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MOD and TT good diversifiers for each other?
Only partially. A correlation of 0.58 means MOD and TT 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 MOD and TT?
As of 2026-08-27, the correlation of weekly returns between MOD and TT is 0.58 over 3 years, 0.59 over 1 year and 0.54 over 5 years.
Is TT a good diversifier for MOD?
Only partially. A correlation of 0.58 means MOD and TT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
A reading of 0.58 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mod-vs-tt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mod-vs-tt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MOD correlations · TT correlations
