CMCO vs IR: Correlation
Measured on weekly returns over the past three years, Columbus McKinnon Corporation (CMCO) and Ingersoll Rand (IR) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMCO and IR?
On 3 years of weekly data the CMCO/IR correlation comes out at 0.59, moderate. Recent behaviour matches the longer record: 0.58 over 1 year against 0.59 over 3. The 5-year figure is 0.58, and annualized covariance runs at 888.7 %².
Among the 15 assets we track against CMCO, IR ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CMCO ahead by 25.3 points (+23.3% versus -2.0%). Note the risk asymmetry: CMCO runs 1.7 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.
CMCO vs IR: side by side
| CMCO (Columbus McKinnon Corporation) | IR (Ingersoll Rand) | |
|---|---|---|
| 1-year return | +23.3% | -2.0% |
| 5-year return | -58.0% | +49.2% |
| Volatility (ann.) | 50.1% | 29.8% |
| Beta vs S&P 500 | 1.42 | 1.17 |
| Max drawdown (3Y) | -72.8% | -36.6% |
| Market cap | $0.5B | $30.6B |
| P/E (trailing) | – | 32.6 |
| Dividend yield | 1.56% | 0.15% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CMCO | IR |
|---|---|---|
| 2022 | -29.3% | -15.4% |
| 2023 | +21.1% | +48.2% |
| 2024 | -3.9% | +17.1% |
| 2025 | -52.9% | -12.3% |
| 2026 | +7.8% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMCO and IR good diversifiers for each other?
Only partially. A correlation of 0.59 means CMCO 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 CMCO and IR?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.58 over the last year and 0.58 over 5 years.
Is IR a good diversifier for CMCO?
Only partially. A correlation of 0.59 means CMCO 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 0.59 mean?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cmco-vs-ir.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmco-vs-ir/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CMCO correlations · IR correlations
