IR vs NDSN: Correlation
How closely do Ingersoll Rand (IR) and Nordson Corporation (NDSN) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IR and NDSN?
Across a 3-year window, the weekly returns of IR and NDSN correlate at 0.60, strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Stretching to 5 years gives 0.63, with an annualized covariance of 441.0 %².
Within IR's tracked universe of 61 assets, NDSN comes in at #31 by 3-year correlation. The last year tells two different stories: NDSN led by 50.5 percentage points, -2.0% for IR against +48.5% for NDSN. Across three years, the rolling one-year figure varied moderately, from 0.36 to 0.78.
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 NDSN: side by side
| IR (Ingersoll Rand) | NDSN (Nordson Corporation) | |
|---|---|---|
| 1-year return | -2.0% | +48.5% |
| 5-year return | +49.2% | +46.5% |
| Volatility (ann.) | 29.8% | 24.7% |
| Beta vs S&P 500 | 1.17 | 0.97 |
| Max drawdown (3Y) | -36.6% | -39.1% |
| Market cap | $30.6B | $18.4B |
| P/E (trailing) | 32.6 | 33.5 |
| Dividend yield | 0.15% | 0.98% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | IR | NDSN |
|---|---|---|
| 2022 | -15.4% | -5.9% |
| 2023 | +48.2% | +12.4% |
| 2024 | +17.1% | -20.1% |
| 2025 | -12.3% | +17.0% |
| 2026 | -0.2% | +38.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IR and NDSN good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IR and NDSN?
The IR/NDSN correlation stands at 0.60 on a 3-year window (1 year: 0.64, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is NDSN a good diversifier for IR?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
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/ir-vs-ndsn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ir-vs-ndsn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IR correlations · NDSN correlations
