ARCO vs TRNR: Correlation
Measured on weekly returns over the past three years, Arcos Dorados Holdings Inc. Class A Shares (ARCO) and Interactive Strength Inc. (TRNR) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARCO and TRNR?
Across a 3-year window, the weekly returns of ARCO and TRNR correlate at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.39) than the 3-year average (-0.26). Stretching to 5 years gives n/a, with an annualized covariance of -1186.6 %².
TRNR is close to the least connected end of ARCO's tracked universe, ranking #10 of 10. Their recent paths diverged sharply: over the last 12 months ARCO outperformed by 116.9 percentage points (+18.0% for ARCO against -98.9% for TRNR). Risk is not evenly split, since TRNR carries 5.0 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.
ARCO vs TRNR: side by side
| ARCO (Arcos Dorados Holdings Inc. Class A Shares) | TRNR (Interactive Strength Inc.) | |
|---|---|---|
| 1-year return | +18.0% | -98.9% |
| 5-year return | +59.4% | n/a |
| Volatility (ann.) | 30.6% | 151.7% |
| Beta vs S&P 500 | 0.59 | 1.38 |
| Max drawdown (3Y) | -47.9% | -100.0% |
| Market cap | $1.7B | – |
| P/E (trailing) | 6.5 | – |
| Dividend yield | 3.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARCO | TRNR |
|---|---|---|
| 2022 | +46.3% | – |
| 2023 | +54.9% | – |
| 2024 | -41.0% | -99.9% |
| 2025 | +4.1% | -97.0% |
| 2026 | +10.0% | -94.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARCO and TRNR good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between ARCO and TRNR?
The ARCO/TRNR correlation stands at -0.26 on a 3-year window (1 year: -0.39, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TRNR a good diversifier for ARCO?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ARCO correlations · TRNR correlations
