IEX vs IR: Correlation
Measured on weekly returns over the past three years, IDEX Corporation (IEX) and Ingersoll Rand (IR) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEX and IR?
Over the past 3 years, IEX and IR moved with a correlation of 0.67, which is strong. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 465.1 %².
Within IEX's tracked universe of 40 assets, IR comes in at #10 by 3-year correlation. The last year tells two different stories: IEX led by 45.0 percentage points, +43.0% for IEX against -2.0% for IR. Across three years, the rolling one-year figure varied moderately, from 0.45 to 0.84.
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.
IEX vs IR: side by side
| IEX (IDEX Corporation) | IR (Ingersoll Rand) | |
|---|---|---|
| 1-year return | +43.0% | -2.0% |
| 5-year return | +10.5% | +49.2% |
| Volatility (ann.) | 23.3% | 29.8% |
| Beta vs S&P 500 | 0.89 | 1.17 |
| Max drawdown (3Y) | -34.6% | -36.6% |
| Market cap | $17.2B | $30.6B |
| P/E (trailing) | 33.8 | 32.6 |
| Dividend yield | 1.23% | 0.15% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | IEX | IR |
|---|---|---|
| 2022 | -2.2% | -15.4% |
| 2023 | -3.8% | +48.2% |
| 2024 | -2.4% | +17.1% |
| 2025 | -13.7% | -12.3% |
| 2026 | +32.9% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEX and IR good diversifiers for each other?
Only partially. A correlation of 0.67 means IEX 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 IEX and IR?
The IEX/IR correlation stands at 0.67 on a 3-year window (1 year: 0.63, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is IR a good diversifier for IEX?
Only partially. A correlation of 0.67 means IEX 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 0.67 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/iex-vs-ir.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iex-vs-ir/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IEX correlations · IR correlations
