ALLE vs IR: Correlation
Allegion (ALLE) and Ingersoll Rand (IR) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLE and IR?
Over the past 3 years, ALLE and IR moved with a correlation of 0.58, which is moderate. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 423.5 %².
Among the 33 assets we track against ALLE, IR ranks #16 by 3-year correlation. Their 12-month results are close: -6.4% for ALLE against -2.0% for IR. Across three years, the rolling one-year figure varied moderately, from 0.43 to 0.69.
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.
ALLE vs IR: side by side
| ALLE (Allegion) | IR (Ingersoll Rand) | |
|---|---|---|
| 1-year return | -6.4% | -2.0% |
| 5-year return | +19.4% | +49.2% |
| Volatility (ann.) | 24.3% | 29.8% |
| Beta vs S&P 500 | 0.60 | 1.17 |
| Max drawdown (3Y) | -29.8% | -36.6% |
| Market cap | $13.6B | $30.6B |
| P/E (trailing) | 21.0 | 32.6 |
| Dividend yield | 1.32% | 0.15% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | ALLE | IR |
|---|---|---|
| 2022 | -19.3% | -15.4% |
| 2023 | +22.3% | +48.2% |
| 2024 | +4.7% | +17.1% |
| 2025 | +22.8% | -12.3% |
| 2026 | +1.1% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLE and IR good diversifiers for each other?
Only partially. A correlation of 0.58 means ALLE and IR 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 ALLE and IR?
As of 2026-08-27, the correlation of weekly returns between ALLE and IR is 0.58 over 3 years, 0.64 over 1 year and 0.60 over 5 years.
Is IR a good diversifier for ALLE?
Only partially. A correlation of 0.58 means ALLE and IR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alle-vs-ir.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alle-vs-ir/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALLE correlations · IR correlations
