Tax-loss harvesting alternatives for OTIS

Among the 39 Industrial Machinery & Supplies & Components peers screened, GGG (Graco Inc.) has tracked OTIS most closely over the past year, with a return correlation of 0.54. The strongest fund stand-in is IYJ (iShares US Industrials ETF) at 0.44 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
GGG	Graco Inc.	Industrial Machinery & Supplies & Components	0.54	0.54	0.61	0.54
FTV	Fortive	Industrial Machinery & Supplies & Components	0.46	0.48	0.59	0.52
XYL	Xylem Inc.	Industrial Machinery & Supplies & Components	0.45	0.42	0.53	0.48
MWA	Mueller Water Products	Industrial Machinery & Supplies & Components	0.42	0.37	0.45	0.43
SNA	Snap-on	Industrial Machinery & Supplies & Components	0.42	0.41	0.49	0.45
SWK	Stanley Black & Decker	Industrial Machinery & Supplies & Components	0.42	0.40	0.46	0.46
ZWS	Zurn Elkay Water Solutions Corp.	Industrial Machinery & Supplies & Components	0.42	0.39	0.45	0.43
NDSN	Nordson Corporation	Industrial Machinery & Supplies & Components	0.41	0.44	0.52	0.49
ESAB	ESAB	Industrial Machinery & Supplies & Components	0.41	0.37	0.43	—
LECO	Lincoln Electric	Industrial Machinery & Supplies & Components	0.40	0.43	0.51	0.50
MIDD	Middleby	Industrial Machinery & Supplies & Components	0.40	0.38	0.49	0.46
KAI	Kadant Inc.	Industrial Machinery & Supplies & Components	0.38	0.35	0.43	0.42
IEX	IDEX Corporation	Industrial Machinery & Supplies & Components	0.38	0.40	0.52	0.50
KMT	Kennametal	Industrial Machinery & Supplies & Components	0.35	0.33	0.44	0.39
PNR	Pentair	Industrial Machinery & Supplies & Components	0.34	0.40	0.52	0.47
ITT	ITT Inc.	Industrial Machinery & Supplies & Components	0.32	0.40	0.55	0.50
EPAC	Enerpac Tool Group	Industrial Machinery & Supplies & Components	0.32	0.32	0.37	0.38
GWW	W. W. Grainger	Industrial Machinery & Supplies & Components	0.32	0.38	0.45	0.42
DCI	Donaldson Company	Industrial Machinery & Supplies & Components	0.32	0.43	0.52	0.50
FELE	Franklin Electric	Industrial Machinery & Supplies & Components	0.31	0.40	0.49	0.49
JBTM	JBT Marel Corporation	Industrial Machinery & Supplies & Components	0.30	0.30	0.42	0.43
CR	Crane	Industrial Machinery & Supplies & Components	0.29	0.31	0.31	—
ATMU	Atmus Filtration Technologies Inc.	Industrial Machinery & Supplies & Components	0.28	0.30	0.29	—
TNC	Tennant Company	Industrial Machinery & Supplies & Components	0.28	0.30	0.39	0.40
GTES	Gates Corporation	Industrial Machinery & Supplies & Components	0.26	0.29	0.39	0.39
TKR	Timken	Industrial Machinery & Supplies & Components	0.24	0.34	0.46	0.43
AIN	Albany International Corp.	Industrial Machinery & Supplies & Components	0.20	0.30	0.39	0.38
HUBB	Hubbell Incorporated	Industrial Machinery & Supplies & Components	0.19	0.30	0.41	0.42
RBC	RBC Bearings	Industrial Machinery & Supplies & Components	0.19	0.31	0.41	0.36
SPXC	SPX Technologies	Industrial Machinery & Supplies & Components	0.18	0.26	0.38	0.41
SXI	Standex International Corporation	Industrial Machinery & Supplies & Components	0.18	0.27	0.37	0.39
FLS	Flowserve	Industrial Machinery & Supplies & Components	0.18	0.26	0.38	0.37
VMI	Valmont Industries	Industrial Machinery & Supplies & Components	0.16	0.24	0.35	0.36
NPO	EnPro Industries, Inc.	Industrial Machinery & Supplies & Components	0.15	0.28	0.38	0.39
CRS	Carpenter Technology	Industrial Machinery & Supplies & Components	0.14	0.18	0.30	0.29
ESE	ESCO Technologies Inc.	Industrial Machinery & Supplies & Components	0.13	0.23	0.36	0.37
MLI	Mueller Industries	Industrial Machinery & Supplies & Components	0.07	0.24	0.36	0.39
PRLB	Protolabs	Industrial Machinery & Supplies & Components	0.06	0.21	0.23	0.20
MFP	Midera Food Processing, Inc.	Industrial Machinery & Supplies & Components	—	—	—	—

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
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.44	0.49	0.62	0.57
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.38	0.47	0.61	0.56
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.38	0.43	0.53	0.49
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.36	0.46	0.60	0.56
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.35	0.46	0.60	0.56
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.33	0.38	0.49	0.45
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.32	0.43	0.57	0.53
JETS	US Global Jets ETF	Airlines	SUB-IND	0.32	0.34	0.41	0.37
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.26	0.34	0.46	0.45
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.26	0.30	0.42	0.42
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.20	0.27	0.41	0.42
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.09	0.23	0.42	0.38

NEXT STEPS

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Replacement research for OTIS's peers

GGG FTV XYL MWA SNA SWK ZWS NDSN ESAB LECO MIDD KAI IEX KMT PNR ITT EPAC GWW DCI FELE JBTM CR ATMU TNC GTES TKR AIN HUBB RBC SPXC SXI FLS VMI NPO CRS ESE MLI PRLB MFP

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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.