PWR vs TT: Correlation
Measured on weekly returns over the past three years, Quanta Services (PWR) and Trane Technologies (TT) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PWR and TT?
Over the past 3 years, PWR and TT moved with a correlation of 0.62, which is strong. The link has loosened recently: the 1-year correlation (0.39) runs below the 3-year figure (0.62). Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 586.4 %².
Within PWR's tracked universe of 33 assets, TT comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PWR outperformed by 55.3 percentage points (+63.1% for PWR against +7.8% for TT). Across three years, the rolling one-year figure varied moderately, from 0.36 to 0.84.
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.
PWR vs TT: side by side
| PWR (Quanta Services) | TT (Trane Technologies) | |
|---|---|---|
| 1-year return | +63.1% | +7.8% |
| 5-year return | +506.1% | +141.4% |
| Volatility (ann.) | 33.9% | 27.8% |
| Beta vs S&P 500 | 1.29 | 1.19 |
| Max drawdown (3Y) | -33.9% | -24.4% |
| Market cap | $93.5B | $100.0B |
| P/E (trailing) | 70.4 | 33.8 |
| Dividend yield | 0.07% | 0.86% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | PWR | TT |
|---|---|---|
| 2022 | +24.6% | -15.3% |
| 2023 | +51.7% | +47.4% |
| 2024 | +46.6% | +53.0% |
| 2025 | +33.7% | +6.1% |
| 2026 | +47.4% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PWR 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 PWR and TT?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.39 over the last year and 0.57 over 5 years.
Is TT a good diversifier for PWR?
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/pwr-vs-tt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pwr-vs-tt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PWR correlations · TT correlations
