Tax-loss harvesting alternatives for AZZ

Among the 18 Heavy Electrical Equipment peers screened, AME (Ametek) has tracked AZZ most closely over the past year, with a return correlation of 0.59. The strongest fund stand-in is PAVE (Global X US Infrastructure) at 0.74 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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STOCKS

Single-name peers

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
AME	Ametek	Electrical Components & Equipment	0.59	0.50	0.50	0.50
ST	Sensata Technologies	Electrical Components & Equipment	0.57	0.53	0.52	0.53
RRX	Regal Rexnord	Electrical Components & Equipment	0.57	0.55	0.51	0.53
ETN	Eaton Corp.	Electrical Components & Equipment	0.53	0.51	0.49	0.52
EMR	Emerson Electric	Electrical Components & Equipment	0.53	0.53	0.52	0.55
NVT	nVent Electric plc	Electrical Components & Equipment	0.51	0.51	0.50	0.57
POWL	Powell Industries, Inc.	Electrical Components & Equipment	0.49	0.42	0.37	0.44
ROK	Rockwell Automation	Electrical Components & Equipment	0.49	0.48	0.46	0.48
ENS	EnerSys	Electrical Components & Equipment	0.47	0.47	0.47	0.53
GNRC	Generac	Heavy Electrical Equipment	0.44	0.41	0.40	0.40
HAYW	Hayward Holdings, Inc.	Electrical Components & Equipment	0.42	0.44	0.39	—
VRT	Vertiv	Electrical Components & Equipment	0.42	0.41	0.38	0.37
WWD	Woodward, Inc.	Electrical Components & Equipment	0.42	0.42	0.41	0.50
MRCY	Mercury Systems	Electrical Components & Equipment	0.39	0.34	0.31	0.31
GEV	GE Vernova	Heavy Electrical Equipment	0.39	0.39	—	—
AYI	Acuity Brands	Electrical Components & Equipment	0.38	0.47	0.46	0.49
VICR	Vicor Corporation	Electrical Components & Equipment	0.36	0.35	0.34	0.32
NXT	Nextpower	Electrical Components & Equipment	0.34	0.30	0.30	—

ETFS

Fund stand-ins

An ETF is generally not 'substantially identical' to a single stock, which is why funds are the standard wash-sale-aware replacement.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.74	0.71	0.67	0.67
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.71	0.69	0.65	0.64
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.71	0.68	0.65	0.64
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.69	0.66	0.63	0.61
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.66	0.65	0.62	0.61
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.49	0.52	0.53	0.57
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.49	0.52	0.53	0.56
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.46	0.53	0.53	0.57
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.44	0.46	0.49	0.54
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.44	0.52	0.49	0.48
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.41	0.53	0.54	0.58
JETS	US Global Jets ETF	Airlines	SUB-IND	0.40	0.48	0.47	0.52

NEXT STEPS

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Replacement research for AZZ's peers

AME ST RRX ETN EMR NVT POWL ROK ENS GNRC HAYW VRT WWD MRCY GEV AYI VICR NXT

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Method: Pearson correlation of daily closing-price returns, Yahoo Finance data, series aligned by trading day, refreshed weekly. A cell is blank when overlapping history covers less than 60% of its window. Correlation is descriptive, not predictive. Wash-sale treatment depends on facts and circumstances — confirm with a tax professional. Not investment advice.