GWW vs IR: Correlation
W. W. Grainger (GWW) and Ingersoll Rand (IR) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GWW and IR?
Across a 3-year window, the weekly returns of GWW and IR correlate at 0.56, moderate. The link has loosened recently: the 1-year correlation (0.30) runs below the 3-year figure (0.56). Stretching to 5 years gives 0.57, with an annualized covariance of 389.4 %².
Within GWW's tracked universe of 29 assets, IR comes in at #5 by 3-year correlation. The last year tells two different stories: GWW led by 33.0 percentage points, +31.0% for GWW against -2.0% for IR. Across three years, the rolling one-year figure varied moderately, from 0.34 to 0.75.
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.
GWW vs IR: side by side
| GWW (W. W. Grainger) | IR (Ingersoll Rand) | |
|---|---|---|
| 1-year return | +31.0% | -2.0% |
| 5-year return | +219.4% | +49.2% |
| Volatility (ann.) | 23.3% | 29.8% |
| Beta vs S&P 500 | 0.74 | 1.17 |
| Max drawdown (3Y) | -24.5% | -36.6% |
| Market cap | $62.2B | $30.6B |
| P/E (trailing) | 34.0 | 32.6 |
| Dividend yield | 0.69% | 0.15% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | GWW | IR |
|---|---|---|
| 2022 | +8.7% | -15.4% |
| 2023 | +50.5% | +48.2% |
| 2024 | +28.2% | +17.1% |
| 2025 | -3.4% | -12.3% |
| 2026 | +31.7% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWW and IR good diversifiers for each other?
Only partially. A correlation of 0.56 means GWW and IR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GWW and IR?
The GWW/IR correlation stands at 0.56 on a 3-year window (1 year: 0.30, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is IR a good diversifier for GWW?
Only partially. A correlation of 0.56 means GWW and IR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gww-vs-ir.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gww-vs-ir/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GWW correlations · IR correlations
