FAST vs IR: Correlation
Measured on weekly returns over the past three years, Fastenal (FAST) and Ingersoll Rand (IR) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FAST and IR?
On 3 years of weekly data the FAST/IR correlation comes out at 0.50, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.50 over 3. The 5-year figure is 0.53, and annualized covariance runs at 355.4 %².
By 3-year correlation, IR places #15 of the 33 assets tracked against FAST. Over the last 12 months FAST came out ahead by 6.1 percentage points (+4.1% against -2.0%). Stability stands out here, with the rolling one-year correlation confined to 0.39 through 0.56.
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.
FAST vs IR: side by side
| FAST (Fastenal) | IR (Ingersoll Rand) | |
|---|---|---|
| 1-year return | +4.1% | -2.0% |
| 5-year return | +105.5% | +49.2% |
| Volatility (ann.) | 24.0% | 29.8% |
| Beta vs S&P 500 | 0.63 | 1.17 |
| Max drawdown (3Y) | -21.9% | -36.6% |
| Market cap | $58.7B | $30.6B |
| P/E (trailing) | 43.7 | 32.6 |
| Dividend yield | 1.80% | 0.15% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | FAST | IR |
|---|---|---|
| 2022 | -24.3% | -15.4% |
| 2023 | +41.3% | +48.2% |
| 2024 | +13.5% | +17.1% |
| 2025 | +14.0% | -12.3% |
| 2026 | +29.5% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FAST and IR good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FAST and IR?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.48 over the last year and 0.53 over 5 years.
Is IR a good diversifier for FAST?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 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/fast-vs-ir.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fast-vs-ir/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FAST correlations · IR correlations
