IR vs MSA: Correlation
Measured on weekly returns over the past three years, Ingersoll Rand (IR) and MSA Safety Incorporated (MSA) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IR and MSA?
On 3 years of weekly data the IR/MSA correlation comes out at 0.63, strong. Recent behaviour matches the longer record: 0.64 over 1 year against 0.63 over 3. The 5-year figure is 0.60, and annualized covariance runs at 443.5 %².
By 3-year correlation, MSA places #23 of the 61 assets tracked against IR. Over the last 12 months MSA came out ahead by 13.4 percentage points (-2.0% against +11.4%).
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 MSA: side by side
| IR (Ingersoll Rand) | MSA (MSA Safety Incorporated) | |
|---|---|---|
| 1-year return | -2.0% | +11.4% |
| 5-year return | +49.2% | +27.9% |
| Volatility (ann.) | 29.8% | 23.4% |
| Beta vs S&P 500 | 1.17 | 0.85 |
| Max drawdown (3Y) | -36.6% | -34.3% |
| Market cap | $30.6B | $7.4B |
| P/E (trailing) | 32.6 | 23.7 |
| Dividend yield | 0.15% | 1.12% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | IR | MSA |
|---|---|---|
| 2022 | -15.4% | -3.1% |
| 2023 | +48.2% | +18.5% |
| 2024 | +17.1% | -0.7% |
| 2025 | -12.3% | -2.1% |
| 2026 | -0.2% | +20.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IR and MSA good diversifiers for each other?
To a limited degree. At 0.63 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 MSA?
As of 2026-08-27, the correlation of weekly returns between IR and MSA is 0.63 over 3 years, 0.64 over 1 year and 0.60 over 5 years.
Is MSA a good diversifier for IR?
To a limited degree. At 0.63 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 0.63 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/ir-vs-msa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ir-vs-msa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IR correlations · MSA correlations
