ERIE vs ITRI: Correlation
How closely do Erie Indemnity (ERIE) and Itron, Inc. (ITRI) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERIE and ITRI?
Across a 3-year window, the weekly returns of ERIE and ITRI correlate at 0.43, moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.43 over 3. Stretching to 5 years gives 0.31, with an annualized covariance of 505.6 %².
Within ERIE's tracked universe of 33 assets, ITRI comes in at #6 by 3-year correlation. Their 12-month results are close: -24.5% for ERIE against -19.9% for ITRI.
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.
ERIE vs ITRI: side by side
| ERIE (Erie Indemnity) | ITRI (Itron, Inc.) | |
|---|---|---|
| 1-year return | -24.5% | -19.9% |
| 5-year return | +61.3% | +17.0% |
| Volatility (ann.) | 30.3% | 38.9% |
| Beta vs S&P 500 | 0.37 | 1.14 |
| Max drawdown (3Y) | -60.9% | -43.6% |
| Market cap | $13.6B | $4.3B |
| P/E (trailing) | 23.4 | 16.5 |
| Dividend yield | 2.24% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ERIE | ITRI |
|---|---|---|
| 2022 | +32.0% | -26.1% |
| 2023 | +37.3% | +49.1% |
| 2024 | +24.7% | +43.8% |
| 2025 | -29.4% | -14.5% |
| 2026 | -8.0% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERIE and ITRI good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ERIE and ITRI?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.45 over the last year and 0.31 over 5 years.
Is ITRI a good diversifier for ERIE?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 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/erie-vs-itri.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/erie-vs-itri/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ERIE correlations · ITRI correlations
