IR vs PH: Correlation
Ingersoll Rand (IR) and Parker Hannifin (PH) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IR and PH?
On 3 years of weekly data the IR/PH correlation comes out at 0.76, strong. Recent behaviour matches the longer record: 0.71 over 1 year against 0.76 over 3. The 5-year figure is 0.78, and annualized covariance runs at 599.8 %².
PH is one of the assets that tracks IR most closely: it ranks #1 out of the 61 assets we track against IR. The last year tells two different stories: PH led by 34.8 percentage points, -2.0% for IR against +32.8% for PH. The rolling one-year correlation stayed in a tight band between 0.70 and 0.90 over the past three years, which points to a structural rather than episodic relationship.
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 PH: side by side
| IR (Ingersoll Rand) | PH (Parker Hannifin) | |
|---|---|---|
| 1-year return | -2.0% | +32.8% |
| 5-year return | +49.2% | +256.4% |
| Volatility (ann.) | 29.8% | 26.6% |
| Beta vs S&P 500 | 1.17 | 1.16 |
| Max drawdown (3Y) | -36.6% | -26.8% |
| Market cap | $30.6B | $127.5B |
| P/E (trailing) | 32.6 | 36.5 |
| Dividend yield | 0.15% | 0.71% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | IR | PH |
|---|---|---|
| 2022 | -15.4% | -6.9% |
| 2023 | +48.2% | +60.8% |
| 2024 | +17.1% | +39.6% |
| 2025 | -12.3% | +39.5% |
| 2026 | -0.2% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IR and PH good diversifiers for each other?
Only partially. A correlation of 0.76 means IR and PH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IR and PH?
The IR/PH correlation stands at 0.76 on a 3-year window (1 year: 0.71, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is PH a good diversifier for IR?
Only partially. A correlation of 0.76 means IR and PH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 mean?
On the −1 to +1 scale, 0.76 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-ph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ir-vs-ph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IR correlations · PH correlations
