Tax-loss harvesting alternatives for HON

Among the 4 Industrial Conglomerates peers screened, CSL (Carlisle Companies) has tracked HON most closely over the past year, with a return correlation of 0.46. The strongest fund stand-in is XLI (Industrial Select Sector SPDR) at 0.57 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
CSL	Carlisle Companies	Industrial Conglomerates	0.46	0.41	0.44	0.55
GE	GE Aerospace	Industrial Conglomerates	0.44	0.37	0.44	0.52
MMM	3M Company	Industrial Conglomerates	0.43	0.40	0.48	0.57
CSW	CSW Industrials, Inc.	Industrial Conglomerates	0.37	0.41	0.44	0.48

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
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.57	0.61	0.69	0.80
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.57	0.61	0.68	0.78
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.56	0.56	0.62	0.75
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.55	0.59	0.67	0.79
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.55	0.59	0.67	0.79
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.52	0.51	0.57	0.71
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.51	0.52	0.61	0.73
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.47	0.51	0.57	0.69
JETS	US Global Jets ETF	Airlines	SUB-IND	0.40	0.45	0.49	0.61
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.39	0.49	0.56	0.68
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.38	0.47	0.54	0.65
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.33	0.41	0.49	0.57

NEXT STEPS

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Replacement research for HON's peers

CSL GE MMM CSW

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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.