OTIS vs TATT: Correlation
Measured on weekly returns over the past three years, Otis Worldwide (OTIS) and TAT Technologies Ltd. (TATT) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OTIS and TATT?
On 3 years of weekly data the OTIS/TATT correlation comes out at 0.33, moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. The 5-year figure is 0.29, and annualized covariance runs at 333.4 %².
Within OTIS's tracked universe of 31 assets, TATT comes in at #21 by 3-year correlation. The last year tells two different stories: TATT led by 17.5 percentage points, -16.8% for OTIS against +0.7% for TATT. One caveat on sizing: TATT is 2.7 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.
OTIS vs TATT: side by side
| OTIS (Otis Worldwide) | TATT (TAT Technologies Ltd.) | |
|---|---|---|
| 1-year return | -16.8% | +0.7% |
| 5-year return | -15.9% | +532.6% |
| Volatility (ann.) | 19.1% | 52.0% |
| Beta vs S&P 500 | 0.59 | 0.89 |
| Max drawdown (3Y) | -32.4% | -47.5% |
| Market cap | $27.2B | $0.5B |
| P/E (trailing) | 18.4 | 24.6 |
| Dividend yield | 2.35% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | OTIS | TATT |
|---|---|---|
| 2022 | -8.8% | -16.0% |
| 2023 | +16.0% | +91.5% |
| 2024 | +5.2% | +153.0% |
| 2025 | -4.0% | +73.9% |
| 2026 | -16.8% | -16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OTIS and TATT good diversifiers for each other?
Reasonably. At 0.33, OTIS and TATT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OTIS and TATT?
As of 2026-08-27, the correlation of weekly returns between OTIS and TATT is 0.33 over 3 years, 0.31 over 1 year and 0.29 over 5 years.
Is TATT a good diversifier for OTIS?
Reasonably. At 0.33, OTIS and TATT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 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/otis-vs-tatt.json
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Related comparisons
Hubs: OTIS correlations · TATT correlations
