IOSP vs MLR: Correlation
Measured on weekly returns over the past three years, Innospec Inc. (IOSP) and Miller Industries, Inc. (MLR) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IOSP and MLR?
On 3 years of weekly data the IOSP/MLR correlation comes out at 0.60, strong. The past 12 months show a weaker link (0.48) than the 3-year average (0.60). The 5-year figure is 0.51, and annualized covariance runs at 509.6 %².
Within IOSP's tracked universe of 35 assets, MLR comes in at #13 by 3-year correlation. The last year tells two different stories: MLR led by 22.1 percentage points, +11.3% for IOSP against +33.4% for MLR.
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.
IOSP vs MLR: side by side
| IOSP (Innospec Inc.) | MLR (Miller Industries, Inc.) | |
|---|---|---|
| 1-year return | +11.3% | +33.4% |
| 5-year return | +10.2% | +70.2% |
| Volatility (ann.) | 26.6% | 31.9% |
| Beta vs S&P 500 | 0.94 | 0.88 |
| Max drawdown (3Y) | -48.4% | -52.7% |
| Market cap | $2.3B | $0.7B |
| P/E (trailing) | 19.5 | 46.3 |
| Dividend yield | 1.87% | 1.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IOSP | MLR |
|---|---|---|
| 2022 | +15.2% | -17.9% |
| 2023 | +21.5% | +61.8% |
| 2024 | -9.6% | +56.6% |
| 2025 | -28.9% | -41.7% |
| 2026 | +26.0% | +56.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IOSP and MLR good diversifiers for each other?
Only partially. A correlation of 0.60 means IOSP and MLR 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 IOSP and MLR?
As of 2026-08-27, the correlation of weekly returns between IOSP and MLR is 0.60 over 3 years, 0.48 over 1 year and 0.51 over 5 years.
Is MLR a good diversifier for IOSP?
Only partially. A correlation of 0.60 means IOSP and MLR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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/iosp-vs-mlr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iosp-vs-mlr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IOSP correlations · MLR correlations
