ALLE vs PNR: Correlation
Measured on weekly returns over the past three years, Allegion (ALLE) and Pentair (PNR) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLE and PNR?
Across a 3-year window, the weekly returns of ALLE and PNR correlate at 0.55, moderate. The past 12 months show a weaker link (0.35) than the 3-year average (0.55). Stretching to 5 years gives 0.65, with an annualized covariance of 375.0 %².
Among the 33 assets we track against ALLE, PNR ranks #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ALLE ahead by 36.1 points (-6.4% versus -42.5%). This link changes with the market regime, having swung between 0.30 and 0.80 on a rolling one-year basis.
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 PNR: side by side
| ALLE (Allegion) | PNR (Pentair) | |
|---|---|---|
| 1-year return | -6.4% | -42.5% |
| 5-year return | +19.4% | -14.1% |
| Volatility (ann.) | 24.3% | 28.2% |
| Beta vs S&P 500 | 0.60 | 1.07 |
| Max drawdown (3Y) | -29.8% | -45.0% |
| Market cap | $13.6B | $9.9B |
| P/E (trailing) | 21.0 | 16.2 |
| Dividend yield | 1.32% | 1.65% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | ALLE | PNR |
|---|---|---|
| 2022 | -19.3% | -37.4% |
| 2023 | +22.3% | +64.2% |
| 2024 | +4.7% | +40.0% |
| 2025 | +22.8% | +4.5% |
| 2026 | +1.1% | -39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLE and PNR good diversifiers for each other?
Only partially. A correlation of 0.55 means ALLE and PNR 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 PNR?
The ALLE/PNR correlation stands at 0.55 on a 3-year window (1 year: 0.35, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is PNR a good diversifier for ALLE?
Only partially. A correlation of 0.55 means ALLE and PNR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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-pnr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alle-vs-pnr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALLE correlations · PNR correlations
