ALLE vs URI: Correlation
Measured on weekly returns over the past three years, Allegion (ALLE) and United Rentals (URI) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLE and URI?
On 3 years of weekly data the ALLE/URI correlation comes out at 0.58, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.58 over 3 years. The 5-year figure is 0.58, and annualized covariance runs at 558.4 %².
By 3-year correlation, URI places #17 of the 33 assets tracked against ALLE. The last year tells two different stories: URI led by 16.6 percentage points, -6.4% for ALLE against +10.2% for URI. On a rolling one-year basis the correlation drifted between 0.40 and 0.78, a moderate band. Risk is not evenly split, since URI carries 1.6 times the volatility of the other side.
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 URI: side by side
| ALLE (Allegion) | URI (United Rentals) | |
|---|---|---|
| 1-year return | -6.4% | +10.2% |
| 5-year return | +19.4% | +204.1% |
| Volatility (ann.) | 24.3% | 39.5% |
| Beta vs S&P 500 | 0.60 | 1.42 |
| Max drawdown (3Y) | -29.8% | -37.0% |
| Market cap | $13.6B | $64.6B |
| P/E (trailing) | 21.0 | 25.4 |
| Dividend yield | 1.32% | 0.71% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | ALLE | URI |
|---|---|---|
| 2022 | -19.3% | +7.0% |
| 2023 | +22.3% | +63.6% |
| 2024 | +4.7% | +24.0% |
| 2025 | +22.8% | +15.9% |
| 2026 | +1.1% | +29.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLE and URI good diversifiers for each other?
Only partially. A correlation of 0.58 means ALLE 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 ALLE and URI?
As of 2026-08-27, the correlation of weekly returns between ALLE and URI is 0.58 over 3 years, 0.41 over 1 year and 0.58 over 5 years.
Is URI a good diversifier for ALLE?
Only partially. A correlation of 0.58 means ALLE 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 0.58 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/alle-vs-uri.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alle-vs-uri/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALLE correlations · URI correlations
