FTRE vs ICLR: Correlation
Fortrea Holdings Inc. (FTRE) and ICON plc (ICLR) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTRE and ICLR?
On 3 years of weekly data the FTRE/ICLR correlation comes out at 0.60, strong. Recent behaviour matches the longer record: 0.64 over 1 year against 0.60 over 3. The 5-year figure is n/a, and annualized covariance runs at 2419.5 %².
ICLR is one of the assets that tracks FTRE most closely: it ranks #1 out of the 12 assets we track against FTRE. The last year tells two different stories: FTRE led by 111.4 percentage points, +108.9% for FTRE against -2.5% for ICLR. Risk is not evenly split, since FTRE carries 1.5 times the volatility of the other side.
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.
FTRE vs ICLR: side by side
| FTRE (Fortrea Holdings Inc.) | ICLR (ICON plc) | |
|---|---|---|
| 1-year return | +108.9% | -2.5% |
| 5-year return | n/a | -33.7% |
| Volatility (ann.) | 78.9% | 51.4% |
| Beta vs S&P 500 | 1.59 | 1.03 |
| Max drawdown (3Y) | -89.9% | -76.9% |
| Market cap | $1.8B | $13.1B |
| P/E (trailing) | – | 265.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTRE | ICLR |
|---|---|---|
| 2022 | – | -37.3% |
| 2023 | – | +45.7% |
| 2024 | -46.6% | -25.9% |
| 2025 | -7.5% | -13.1% |
| 2026 | +9.3% | -6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTRE and ICLR good diversifiers for each other?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FTRE and ICLR?
As of 2026-08-27, the correlation of weekly returns between FTRE and ICLR is 0.60 over 3 years, 0.64 over 1 year and n/a over 5 years.
Is ICLR a good diversifier for FTRE?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.60 mean?
A reading of 0.60 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/ftre-vs-iclr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ftre-vs-iclr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FTRE correlations · ICLR correlations
