PH vs QUAL: Correlation
Parker Hannifin (PH) and iShares MSCI USA Quality Factor ETF (QUAL) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PH and QUAL?
Across a 3-year window, the weekly returns of PH and QUAL correlate at 0.67, strong. The past 12 months show a weaker link (0.42) than the 3-year average (0.67). Stretching to 5 years gives 0.67, with an annualized covariance of 246.9 %².
By 3-year correlation, QUAL places #13 of the 57 assets tracked against PH. Over the last 12 months PH came out ahead by 13.1 percentage points (+32.8% against +19.7%). The rolling one-year correlation moved between 0.40 and 0.88 over the past three years, a moderate range. Risk is not evenly split, since PH carries 1.9 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.
PH vs QUAL: side by side
| PH (Parker Hannifin) | QUAL (iShares MSCI USA Quality Factor ETF) | |
|---|---|---|
| 1-year return | +32.8% | +19.7% |
| 5-year return | +256.4% | +68.0% |
| Volatility (ann.) | 26.6% | 14.0% |
| Beta vs S&P 500 | 1.16 | 0.93 |
| Max drawdown (3Y) | -26.8% | -18.0% |
| Market cap | $127.5B | – |
| P/E (trailing) | 36.5 | – |
| Dividend yield | 0.71% | 0.86% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $46.5B |
| Sector / category | Industrials | ETF · US Style |
QUAL, iShares's Large Blend fund, carries $46.5B under management, 123 holdings, a 0.15% expense ratio, a 0.86% trailing dividend yield.
Year-by-year returns
| Year | PH | QUAL |
|---|---|---|
| 2022 | -6.9% | -20.5% |
| 2023 | +60.8% | +30.9% |
| 2024 | +39.6% | +22.3% |
| 2025 | +39.5% | +12.7% |
| 2026 | +15.5% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PH and QUAL good diversifiers for each other?
To a limited degree. At 0.67 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 PH and QUAL?
As of 2026-08-27, the correlation of weekly returns between PH and QUAL is 0.67 over 3 years, 0.42 over 1 year and 0.67 over 5 years.
Is QUAL a good diversifier for PH?
To a limited degree. At 0.67 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 0.67 mean?
A reading of 0.67 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/ph-vs-qual.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ph-vs-qual/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PH correlations · QUAL correlations
