AIT vs URI: Correlation
Applied Industrial Technologies, Inc. (AIT) and United Rentals (URI) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIT and URI?
Across a 3-year window, the weekly returns of AIT and URI correlate at 0.64, strong. Recent behaviour matches the longer record: 0.56 over 1 year against 0.64 over 3. Stretching to 5 years gives 0.66, with an annualized covariance of 661.2 %².
Among the 26 assets we track against AIT, URI ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AIT ahead by 16.7 points (+26.9% versus +10.2%). One caveat on sizing: URI is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AIT vs URI: side by side
| AIT (Applied Industrial Technologies, Inc.) | URI (United Rentals) | |
|---|---|---|
| 1-year return | +26.9% | +10.2% |
| 5-year return | +291.4% | +204.1% |
| Volatility (ann.) | 26.0% | 39.5% |
| Beta vs S&P 500 | 1.03 | 1.42 |
| Max drawdown (3Y) | -26.4% | -37.0% |
| Market cap | $12.4B | $64.6B |
| P/E (trailing) | 31.2 | 25.4 |
| Dividend yield | 0.57% | 0.71% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | AIT | URI |
|---|---|---|
| 2022 | +24.2% | +7.0% |
| 2023 | +38.4% | +63.6% |
| 2024 | +39.7% | +24.0% |
| 2025 | +8.0% | +15.9% |
| 2026 | +32.4% | +29.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIT and URI good diversifiers for each other?
Only partially. A correlation of 0.64 means AIT and URI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AIT and URI?
As of 2026-08-27, the correlation of weekly returns between AIT and URI is 0.64 over 3 years, 0.56 over 1 year and 0.66 over 5 years.
Is URI a good diversifier for AIT?
Only partially. A correlation of 0.64 means AIT and URI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ait-vs-uri.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ait-vs-uri/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AIT correlations · URI correlations
