ECPG vs TRNR: Correlation
Encore Capital Group Inc (ECPG) and Interactive Strength Inc. (TRNR) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECPG and TRNR?
On 3 years of weekly data the ECPG/TRNR correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.08) than the 3-year average (-0.24). The 5-year figure is n/a, and annualized covariance runs at -1308.8 %².
TRNR is close to the least connected end of ECPG's tracked universe, ranking #14 of 16. The last year tells two different stories: ECPG led by 243.2 percentage points, +144.3% for ECPG against -98.9% for TRNR. Note the risk asymmetry: TRNR runs 4.3 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.
ECPG vs TRNR: side by side
| ECPG (Encore Capital Group Inc) | TRNR (Interactive Strength Inc.) | |
|---|---|---|
| 1-year return | +144.3% | -98.9% |
| 5-year return | +114.1% | n/a |
| Volatility (ann.) | 35.6% | 151.7% |
| Beta vs S&P 500 | 0.85 | 1.38 |
| Max drawdown (3Y) | -49.2% | -100.0% |
| Market cap | $2.2B | – |
| P/E (trailing) | 7.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ECPG | TRNR |
|---|---|---|
| 2022 | -22.8% | – |
| 2023 | +5.9% | – |
| 2024 | -5.9% | -99.9% |
| 2025 | +13.8% | -97.0% |
| 2026 | +87.6% | -94.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECPG and TRNR good diversifiers for each other?
Yes. With a correlation of -0.24, ECPG and TRNR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ECPG and TRNR?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.08 over the last year and n/a over 5 years.
Is TRNR a good diversifier for ECPG?
Yes. With a correlation of -0.24, ECPG and TRNR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: ECPG correlations · TRNR correlations
