FELE vs MGRC: Correlation
Measured on weekly returns over the past three years, Franklin Electric Co., Inc. (FELE) and McGrath RentCorp (MGRC) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FELE and MGRC?
On 3 years of weekly data the FELE/MGRC correlation comes out at 0.55, moderate. The past 12 months show a tighter link (0.66) than the 3-year average (0.55). The 5-year figure is 0.53, and annualized covariance runs at 327.1 %².
Within FELE's tracked universe of 25 assets, MGRC comes in at #14 by 3-year correlation. On 12-month performance FELE holds a 11.3-point edge, +3.8% against -7.5%.
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.
FELE vs MGRC: side by side
| FELE (Franklin Electric Co., Inc.) | MGRC (McGrath RentCorp) | |
|---|---|---|
| 1-year return | +3.8% | -7.5% |
| 5-year return | +25.2% | +79.8% |
| Volatility (ann.) | 22.7% | 26.1% |
| Beta vs S&P 500 | 0.79 | 0.65 |
| Max drawdown (3Y) | -23.5% | -24.9% |
| Market cap | $4.5B | $2.8B |
| P/E (trailing) | 29.4 | 18.4 |
| Dividend yield | 1.06% | 1.72% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FELE | MGRC |
|---|---|---|
| 2022 | -14.9% | +25.8% |
| 2023 | +22.4% | +23.5% |
| 2024 | +1.8% | -4.9% |
| 2025 | -0.9% | -4.6% |
| 2026 | +7.8% | +9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FELE and MGRC good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FELE and MGRC?
The FELE/MGRC correlation stands at 0.55 on a 3-year window (1 year: 0.66, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is MGRC a good diversifier for FELE?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 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/fele-vs-mgrc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fele-vs-mgrc/)
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Related comparisons
Hubs: FELE correlations · MGRC correlations
