CSL vs IR: Correlation
Carlisle Companies Incorporated (CSL) and Ingersoll Rand (IR) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSL and IR?
On 3 years of weekly data the CSL/IR correlation comes out at 0.72, strong. Recent behaviour matches the longer record: 0.71 over 1 year against 0.72 over 3. The 5-year figure is 0.64, and annualized covariance runs at 724.1 %².
IR is one of the assets that tracks CSL most closely: it ranks #1 out of the 19 assets we track against CSL. Neither side won the trailing year by much: -6.4% against -2.0%.
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.
CSL vs IR: side by side
| CSL (Carlisle Companies Incorporated) | IR (Ingersoll Rand) | |
|---|---|---|
| 1-year return | -6.4% | -2.0% |
| 5-year return | +78.0% | +49.2% |
| Volatility (ann.) | 33.9% | 29.8% |
| Beta vs S&P 500 | 1.10 | 1.17 |
| Max drawdown (3Y) | -37.7% | -36.6% |
| Market cap | $14.3B | $30.6B |
| P/E (trailing) | 20.5 | 32.6 |
| Dividend yield | 1.20% | 0.15% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CSL | IR |
|---|---|---|
| 2022 | -4.1% | -15.4% |
| 2023 | +34.3% | +48.2% |
| 2024 | +19.1% | +17.1% |
| 2025 | -12.3% | -12.3% |
| 2026 | +13.9% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSL and IR good diversifiers for each other?
Only partially. A correlation of 0.72 means CSL 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 CSL and IR?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.71 over the last year and 0.64 over 5 years.
Is IR a good diversifier for CSL?
Only partially. A correlation of 0.72 means CSL 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 0.72 mean?
A reading of 0.72 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/csl-vs-ir.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csl-vs-ir/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CSL correlations · IR correlations
