CARR vs. TT
CARR (Carrier Global Corporation) and TT (Trane Technologies plc) are both stocks. Both are in the Industrials sector — CARR in Building Products & Equipment, TT in Specialty Industrial Machinery. Over the past 5 years, CARR returned 10.83%/yr vs 23.86%/yr for TT. A 0.69 correlation means they provide meaningful diversification when combined.
Performance
CARR vs. TT - Performance Comparison
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Returns By Period
In the year-to-date period, CARR achieves a 37.05% return, which is significantly higher than TT's 26.90% return.
CARR
- 1D
- 0.06%
- 1M
- 13.79%
- YTD
- 37.05%
- 6M
- 36.12%
- 1Y
- 3.78%
- 3Y*
- 15.90%
- 5Y*
- 10.83%
- 10Y*
- —
TT
- 1D
- 1.69%
- 1M
- 9.24%
- YTD
- 26.90%
- 6M
- 26.68%
- 1Y
- 18.22%
- 3Y*
- 39.67%
- 5Y*
- 23.86%
- 10Y*
- 24.79%
CARR vs. TT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CARR Carrier Global Corporation | 37.05% | -21.57% | 20.26% | 41.47% | -22.68% | 45.31% | 176.86% |
TT Trane Technologies plc | 26.90% | 6.38% | 52.97% | 47.39% | -15.34% | 41.02% | 77.60% |
Correlation
The correlation between CARR and TT is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2020 | 0.69 |
The correlation between CARR and TT has been stable across timeframes, ranging from 0.65 to 0.72 - a consistent structural relationship.
Fundamentals
CARR:
$60.56B
TT:
$109.67B
CARR:
$1.55
TT:
$12.94
CARR:
46.50
TT:
38.00
CARR:
0.68
TT:
1.74
CARR:
2.80
TT:
5.10
CARR:
4.39
TT:
12.73
CARR:
$21.87B
TT:
$21.60B
CARR:
$5.43B
TT:
$7.76B
CARR:
$3.15B
TT:
$4.25B
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Return for Risk
CARR vs. TT — Risk / Return Rank
CARR
TT
CARR vs. TT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Carrier Global Corporation (CARR) and Trane Technologies plc (TT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CARR | TT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.14 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 0.92 | -0.81 |
| Martin ratioReturn relative to average drawdown | 0.16 | 1.80 | -1.65 |
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Drawdowns
CARR vs. TT - Drawdown Comparison
The maximum CARR drawdown since its inception was -40.82%, smaller than the maximum TT drawdown of -77.91%. Use the drawdown chart below to compare losses from any high point for CARR and TT.
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Drawdown Indicators
| CARR | TT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.82% | -77.91% | +37.09% |
Max Drawdown (1Y)Largest decline over 1 year | -37.38% | -19.97% | -17.41% |
Max Drawdown (3Y)Largest decline over 3 years | -37.91% | -24.44% | -13.47% |
Max Drawdown (5Y)Largest decline over 5 years | -40.82% | -40.53% | -0.29% |
Max Drawdown (10Y)Largest decline over 10 years | — | -51.13% | — |
Current DrawdownCurrent decline from peak | -10.72% | 0.00% | -10.72% |
Average DrawdownAverage peak-to-trough decline | -14.20% | -14.83% | +0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.14% | 10.13% | +14.01% |
Volatility
CARR vs. TT - Volatility Comparison
Carrier Global Corporation (CARR) has a higher volatility of 10.54% compared to Trane Technologies plc (TT) at 8.45%. This indicates that CARR's price experiences larger fluctuations and is considered to be riskier than TT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CARR | TT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.54% | 8.45% | +2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 27.73% | 21.61% | +6.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.54% | 27.81% | +7.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.92% | 27.35% | +4.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.81% | 28.38% | +6.43% |
Dividends
CARR vs. TT - Dividend Comparison
CARR's dividend yield for the trailing twelve months is around 1.61%, more than TT's 0.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CARR Carrier Global Corporation | 1.61% | 1.70% | 1.16% | 1.30% | 1.54% | 0.94% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TT Trane Technologies plc | 0.81% | 0.97% | 0.91% | 1.23% | 1.59% | 1.17% | 1.46% | 1.59% | 2.15% | 1.91% | 1.81% | 2.10% |
Financials
CARR vs. TT - Financials Comparison
This section allows you to compare key financial metrics between Carrier Global Corporation and Trane Technologies plc. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CARR vs. TT - Profitability Comparison
CARR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Carrier Global Corporation reported a gross profit of 1.24B and revenue of 5.34B. Therefore, the gross margin over that period was 23.3%.
TT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Trane Technologies plc reported a gross profit of 1.73B and revenue of 4.97B. Therefore, the gross margin over that period was 34.8%.
CARR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Carrier Global Corporation reported an operating income of 259.00M and revenue of 5.34B, resulting in an operating margin of 4.9%.
TT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Trane Technologies plc reported an operating income of 776.10M and revenue of 4.97B, resulting in an operating margin of 15.6%.
CARR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Carrier Global Corporation reported a net income of 238.00M and revenue of 5.34B, resulting in a net margin of 4.5%.
TT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Trane Technologies plc reported a net income of 584.40M and revenue of 4.97B, resulting in a net margin of 11.8%.
Frequently Asked Questions
CARR and TT have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CARR has higher volatility (10.54%) compared to TT (8.45%). In terms of maximum drawdown, CARR dropped -40.82% vs TT's -77.91%.
TT currently has the higher Sharpe Ratio (0.66 vs 0.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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