ALLE vs RXT: Correlation
Allegion (ALLE) and Rackspace Technology, Inc. (RXT) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLE and RXT?
Over the past 3 years, ALLE and RXT moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.33 versus -0.18 over 3 years. Over 5 years the correlation is -0.02, and the annualized covariance of weekly returns is -983.4 %².
By 3-year correlation, RXT places #25 of the 33 assets tracked against ALLE. Their recent paths diverged sharply: over the last 12 months RXT outperformed by 185.7 percentage points (-6.4% for ALLE against +179.3% for RXT). Note the risk asymmetry: RXT runs 9.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 RXT: side by side
| ALLE (Allegion) | RXT (Rackspace Technology, Inc.) | |
|---|---|---|
| 1-year return | -6.4% | +179.3% |
| 5-year return | +19.4% | -75.7% |
| Volatility (ann.) | 24.3% | 230.1% |
| Beta vs S&P 500 | 0.60 | 3.34 |
| Max drawdown (3Y) | -29.8% | -86.5% |
| Market cap | $13.6B | $0.9B |
| P/E (trailing) | 21.0 | – |
| Dividend yield | 1.32% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ALLE | RXT |
|---|---|---|
| 2022 | -19.3% | -78.1% |
| 2023 | +22.3% | -32.2% |
| 2024 | +4.7% | +10.5% |
| 2025 | +22.8% | -56.1% |
| 2026 | +1.1% | +248.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLE and RXT good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALLE and RXT?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.33 over the last year and -0.02 over 5 years.
Is RXT a good diversifier for ALLE?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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-rxt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alle-vs-rxt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALLE correlations · RXT correlations
