IR vs SPB: Correlation
How closely do Ingersoll Rand (IR) and Spectrum Brands Holdings, Inc. (SPB) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IR and SPB?
On 3 years of weekly data the IR/SPB correlation comes out at 0.56, moderate. The past 12 months show a tighter link (0.69) than the 3-year average (0.56). The 5-year figure is 0.52, and annualized covariance runs at 532.3 %².
By 3-year correlation, SPB places #39 of the 61 assets tracked against IR. Their recent paths diverged sharply: over the last 12 months SPB outperformed by 62.7 percentage points (-2.0% for IR against +60.7% for SPB).
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 SPB: side by side
| IR (Ingersoll Rand) | SPB (Spectrum Brands Holdings, Inc.) | |
|---|---|---|
| 1-year return | -2.0% | +60.7% |
| 5-year return | +49.2% | +26.1% |
| Volatility (ann.) | 29.8% | 31.9% |
| Beta vs S&P 500 | 1.17 | 0.83 |
| Max drawdown (3Y) | -36.6% | -46.3% |
| Market cap | $30.6B | $2.0B |
| P/E (trailing) | 32.6 | 27.7 |
| Dividend yield | 0.15% | 2.11% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | IR | SPB |
|---|---|---|
| 2022 | -15.4% | -38.7% |
| 2023 | +48.2% | +34.1% |
| 2024 | +17.1% | +8.0% |
| 2025 | -12.3% | -27.9% |
| 2026 | -0.2% | +52.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IR and SPB good diversifiers for each other?
Only partially. A correlation of 0.56 means IR and SPB 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 SPB?
The IR/SPB correlation stands at 0.56 on a 3-year window (1 year: 0.69, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is SPB a good diversifier for IR?
Only partially. A correlation of 0.56 means IR and SPB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
A reading of 0.56 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
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Related comparisons
Hubs: IR correlations · SPB correlations
