IR vs MMM: Correlation
Measured on weekly returns over the past three years, Ingersoll Rand (IR) and 3M (MMM) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IR and MMM?
Across a 3-year window, the weekly returns of IR and MMM correlate at 0.49, moderate. The link has tightened recently: the 1-year correlation (0.66) runs above the 3-year figure (0.49). Stretching to 5 years gives 0.51, with an annualized covariance of 437.5 %².
Within IR's tracked universe of 61 assets, MMM comes in at #46 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MMM outperformed by 18.4 percentage points (-2.0% for IR against +16.4% for MMM). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.10 to 0.76.
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 MMM: side by side
| IR (Ingersoll Rand) | MMM (3M) | |
|---|---|---|
| 1-year return | -2.0% | +16.4% |
| 5-year return | +49.2% | +29.9% |
| Volatility (ann.) | 29.8% | 29.8% |
| Beta vs S&P 500 | 1.17 | 0.89 |
| Max drawdown (3Y) | -36.6% | -20.7% |
| Market cap | $30.6B | $92.2B |
| P/E (trailing) | 32.6 | 31.9 |
| Dividend yield | 0.15% | 1.68% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | IR | MMM |
|---|---|---|
| 2022 | -15.4% | -29.6% |
| 2023 | +48.2% | -3.3% |
| 2024 | +17.1% | +46.1% |
| 2025 | -12.3% | +26.4% |
| 2026 | -0.2% | +13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IR and MMM good diversifiers for each other?
Reasonably. At 0.49, IR and MMM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IR and MMM?
The IR/MMM correlation stands at 0.49 on a 3-year window (1 year: 0.66, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is MMM a good diversifier for IR?
Reasonably. At 0.49, IR and MMM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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-mmm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ir-vs-mmm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IR correlations · MMM correlations
