INSP vs SHAK: Correlation
How closely do Inspire Medical Systems, Inc. (INSP) and Shake Shack, Inc. (SHAK) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INSP and SHAK?
On 3 years of weekly data the INSP/SHAK correlation comes out at 0.37, moderate. Recent behaviour matches the longer record: 0.29 over 1 year against 0.37 over 3. The 5-year figure is 0.36, and annualized covariance runs at 1270.7 %².
Within INSP's tracked universe of 10 assets, SHAK comes in at #5 by 3-year correlation. Twelve-month performance is nearly a tie, at -34.1% for INSP and -33.9% for SHAK.
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.
INSP vs SHAK: side by side
| INSP (Inspire Medical Systems, Inc.) | SHAK (Shake Shack, Inc.) | |
|---|---|---|
| 1-year return | -34.1% | -33.9% |
| 5-year return | -72.6% | -18.1% |
| Volatility (ann.) | 67.2% | 51.5% |
| Beta vs S&P 500 | 0.77 | 1.42 |
| Max drawdown (3Y) | -84.1% | -63.1% |
| Market cap | $1.8B | $3.0B |
| P/E (trailing) | 13.6 | 76.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INSP | SHAK |
|---|---|---|
| 2022 | +9.5% | -42.4% |
| 2023 | -19.2% | +78.5% |
| 2024 | -8.9% | +75.1% |
| 2025 | -50.2% | -37.5% |
| 2026 | -34.1% | -13.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INSP and SHAK good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between INSP and SHAK?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.29 over the last year and 0.36 over 5 years.
Is SHAK a good diversifier for INSP?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/insp-vs-shak.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/insp-vs-shak/)
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Related comparisons
Hubs: INSP correlations · SHAK correlations
