IR vs LII: Correlation
How closely do Ingersoll Rand (IR) and Lennox International (LII) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IR and LII?
On 3 years of weekly data the IR/LII correlation comes out at 0.54, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.54 over 3. The 5-year figure is 0.56, and annualized covariance runs at 518.4 %².
By 3-year correlation, LII places #41 of the 61 assets tracked against IR. Correlation aside, the last 12 months split them widely, with IR ahead by 28.3 points (-2.0% versus -30.3%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.45 and 0.69.
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.
IR vs LII: side by side
| IR (Ingersoll Rand) | LII (Lennox International) | |
|---|---|---|
| 1-year return | -2.0% | -30.3% |
| 5-year return | +49.2% | +23.7% |
| Volatility (ann.) | 29.8% | 32.0% |
| Beta vs S&P 500 | 1.17 | 0.96 |
| Max drawdown (3Y) | -36.6% | -41.7% |
| Market cap | $30.6B | $13.5B |
| P/E (trailing) | 32.6 | 17.5 |
| Dividend yield | 0.15% | 1.34% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | IR | LII |
|---|---|---|
| 2022 | -15.4% | -24.9% |
| 2023 | +48.2% | +89.5% |
| 2024 | +17.1% | +37.3% |
| 2025 | -12.3% | -19.5% |
| 2026 | -0.2% | -19.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IR and LII good diversifiers for each other?
To a limited degree. At 0.54 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 IR and LII?
As of 2026-08-27, the correlation of weekly returns between IR and LII is 0.54 over 3 years, 0.48 over 1 year and 0.56 over 5 years.
Is LII a good diversifier for IR?
To a limited degree. At 0.54 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 0.54 mean?
A reading of 0.54 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/ir-vs-lii.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ir-vs-lii/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IR correlations · LII correlations
