IR vs PCAR: Correlation
Ingersoll Rand (IR) and Paccar (PCAR) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IR and PCAR?
Over the past 3 years, IR and PCAR moved with a correlation of 0.64, which is strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 462.7 %².
Among the 61 assets we track against IR, PCAR ranks #22 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PCAR ahead by 29.8 points (-2.0% versus +27.8%). Across three years, the rolling one-year figure varied moderately, from 0.49 to 0.74.
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 PCAR: side by side
| IR (Ingersoll Rand) | PCAR (Paccar) | |
|---|---|---|
| 1-year return | -2.0% | +27.8% |
| 5-year return | +49.2% | +177.9% |
| Volatility (ann.) | 29.8% | 24.1% |
| Beta vs S&P 500 | 1.17 | 0.74 |
| Max drawdown (3Y) | -36.6% | -27.7% |
| Market cap | $30.6B | $66.6B |
| P/E (trailing) | 32.6 | 26.6 |
| Dividend yield | 0.15% | 1.04% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | IR | PCAR |
|---|---|---|
| 2022 | -15.4% | +17.0% |
| 2023 | +48.2% | +55.0% |
| 2024 | +17.1% | +10.8% |
| 2025 | -12.3% | +8.0% |
| 2026 | -0.2% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IR and PCAR good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IR and PCAR?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.61 over the last year and 0.62 over 5 years.
Is PCAR a good diversifier for IR?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
A reading of 0.64 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-pcar.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ir-vs-pcar/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IR correlations · PCAR correlations
