CR vs MGRC: Correlation
Measured on weekly returns over the past three years, Crane Company (CR) and McGrath RentCorp (MGRC) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CR and MGRC?
Across a 3-year window, the weekly returns of CR and MGRC correlate at 0.56, moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 458.4 %².
Among the 17 assets we track against CR, MGRC ranks #8 by 3-year correlation. The last year tells two different stories: CR led by 15.9 percentage points, +8.4% for CR against -7.5% for MGRC.
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.
CR vs MGRC: side by side
| CR (Crane Company) | MGRC (McGrath RentCorp) | |
|---|---|---|
| 1-year return | +8.4% | -7.5% |
| 5-year return | n/a | +79.8% |
| Volatility (ann.) | 31.2% | 26.1% |
| Beta vs S&P 500 | 1.13 | 0.65 |
| Max drawdown (3Y) | -28.0% | -24.9% |
| Market cap | $12.1B | $2.8B |
| P/E (trailing) | 36.6 | 18.4 |
| Dividend yield | 0.46% | 1.72% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CR | MGRC |
|---|---|---|
| 2022 | – | +25.8% |
| 2023 | – | +23.5% |
| 2024 | +29.2% | -4.9% |
| 2025 | +22.2% | -4.6% |
| 2026 | +13.6% | +9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CR and MGRC good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CR and MGRC?
The CR/MGRC correlation stands at 0.56 on a 3-year window (1 year: 0.60, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MGRC a good diversifier for CR?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 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/cr-vs-mgrc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cr-vs-mgrc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CR correlations · MGRC correlations
