TT vs. AIT

Last updated Jun 9, 2026

TT (Trane Technologies plc) and AIT (Applied Industrial Technologies, Inc.) are both stocks. Both are in the Industrials sector — TT in Specialty Industrial Machinery, AIT in Industrial Distribution. Over the past 10 years, TT returned 23.62%/yr vs 22.87%/yr for AIT. At a 0.37 correlation, their price movements are largely independent.

Performance

TT vs. AIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trane Technologies plc (TT) and Applied Industrial Technologies, Inc. (AIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TT achieves a 18.47% return, which is significantly lower than AIT's 22.87% return. Both investments have delivered pretty close results over the past 10 years, with TT having a 23.62% annualized return and AIT not far behind at 22.87%.

TT

• 1D: 0.46%
• 1M: -1.33%
• YTD: 18.47%
• 6M: 16.06%
• 1Y: 7.99%
• 3Y*: 39.02%
• 5Y*: 21.82%
• 10Y*: 23.62%

AIT

• 1D: -0.28%
• 1M: 1.96%
• YTD: 22.87%
• 6M: 22.65%
• 1Y: 36.57%
• 3Y*: 33.63%
• 5Y*: 28.07%
• 10Y*: 22.87%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TT vs. AIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TT Trane Technologies plc	18.47%	6.38%	52.97%	47.39%	-15.34%	41.02%	11.26%	48.32%	4.41%	21.27%
AIT Applied Industrial Technologies, Inc.	22.87%	8.01%	39.67%	38.35%	24.25%	33.57%	19.37%	26.35%	-19.41%	16.89%

Correlation

The correlation between TT and AIT is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jul 2, 1985	0.37

Over the past year, TT and AIT have become more correlated (0.57) than their long-term average of 0.37, meaning their price movements have been converging.

Fundamentals

Market Cap TT : $102.39B AIT : $11.95B
EPS TT : $12.94 AIT : $10.56
PE Ratio TT : 35.48 AIT : 29.78
PEG Ratio TT : 1.62 AIT : 0.93
PS Ratio TT : 4.76 AIT : 2.48
PB Ratio TT : 11.89 AIT : 4.00
Total Revenue (TTM) TT : $21.60B AIT : $4.84B
Gross Profit (TTM) TT : $7.76B AIT : $1.47B
EBITDA (TTM) TT : $4.25B AIT : $563.38M

Return for Risk

TT vs. AIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TT

TT Risk / Return Rank: 49
TT Sharpe Ratio Rank: 53
TT Sortino Ratio Rank: 46
TT Omega Ratio Rank: 45
TT Calmar Ratio Rank: 52
TT Martin Ratio Rank: 51

AIT

AIT Risk / Return Rank: 79
AIT Sharpe Ratio Rank: 81
AIT Sortino Ratio Rank: 75
AIT Omega Ratio Rank: 74
AIT Calmar Ratio Rank: 83
AIT Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TT vs. AIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trane Technologies plc (TT) and Applied Industrial Technologies, Inc. (AIT). 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.

	TT	AIT	Difference
Sharpe ratio: Return per unit of total volatility	0.30	1.40	-1.10
Sortino ratio: Return per unit of downside risk	0.59	1.94	-1.35
Omega ratio: Gain probability vs. loss probability	1.08	1.25	-0.17
Calmar ratio: Return relative to maximum drawdown	0.40	2.86	-2.46
Martin ratio: Return relative to average drawdown	0.79	6.86	-6.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TT vs. AIT - Sharpe Ratio Comparison

The current TT Sharpe Ratio is 0.30, which is lower than the AIT Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of TT and AIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TT	AIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.30	1.40	-1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.93	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.69	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.43	+0.03

Drawdowns

TT vs. AIT - Drawdown Comparison

The maximum TT drawdown since its inception was -77.91%, which is greater than AIT's maximum drawdown of -66.47%. Use the drawdown chart below to compare losses from any high point for TT and AIT.

Drawdown Indicators

	TT	AIT	Difference
Max Drawdown Largest peak-to-trough decline	-77.91%	-66.47%	-11.44%
Max Drawdown (1Y) Largest decline over 1 year	-19.97%	-12.86%	-7.11%
Max Drawdown (3Y) Largest decline over 3 years	-24.44%	-26.42%	+1.98%
Max Drawdown (5Y) Largest decline over 5 years	-40.53%	-26.42%	-14.11%
Max Drawdown (10Y) Largest decline over 10 years	-51.13%	-59.29%	+8.16%
Current Drawdown Current decline from peak	-6.61%	-0.28%	-6.33%
Average Drawdown Average peak-to-trough decline	-14.84%	-18.04%	+3.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.09%	5.35%	+4.74%

Volatility

TT vs. AIT - Volatility Comparison

Trane Technologies plc (TT) has a higher volatility of 7.45% compared to Applied Industrial Technologies, Inc. (AIT) at 5.61%. This indicates that TT's price experiences larger fluctuations and is considered to be riskier than AIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TT	AIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.45%	5.61%	+1.84%
Volatility (6M) Calculated over the trailing 6-month period	21.06%	19.07%	+1.99%
Volatility (1Y) Calculated over the trailing 1-year period	26.97%	26.31%	+0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.28%	30.49%	-3.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.30%	33.29%	-4.99%

Dividends

TT vs. AIT - Dividend Comparison

TT's dividend yield for the trailing twelve months is around 0.87%, more than AIT's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIT Applied Industrial Technologies, Inc.	0.62%	0.72%	0.62%	0.81%	1.08%	1.29%	1.64%	1.86%	2.22%	1.70%	1.89%	2.67%
TT Trane Technologies plc	0.87%	0.97%	0.91%	1.23%	1.59%	1.17%	1.46%	1.59%	2.15%	1.91%	1.81%	2.10%

Financials

TT vs. AIT - Profitability Comparison

The chart below illustrates the profitability comparison between Trane Technologies plc and Applied Industrial Technologies, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

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%.

AIT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Applied Industrial Technologies, Inc. reported a gross profit of 397.52M and revenue of 1.25B. Therefore, the gross margin over that period was 31.8%.

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%.

AIT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Applied Industrial Technologies, Inc. reported an operating income of 137.93M and revenue of 1.25B, resulting in an operating margin of 11.0%.

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%.

AIT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Applied Industrial Technologies, Inc. reported a net income of 99.77M and revenue of 1.25B, resulting in a net margin of 8.0%.

Frequently Asked Questions

Can I hold both TT and AIT in my portfolio?

TT and AIT have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TT or AIT?

TT has higher volatility (7.45%) compared to AIT (5.61%). In terms of maximum drawdown, TT dropped -77.91% vs AIT's -66.47%.

Which has better risk-adjusted returns?

AIT currently has the higher Sharpe Ratio (1.40 vs 0.30), 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.