IR vs UFPI: Correlation
Ingersoll Rand (IR) and UFP Industries, Inc. (UFPI) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IR and UFPI?
Over the past 3 years, IR and UFPI moved with a correlation of 0.68, which is strong. The link has tightened recently: the 1-year correlation (0.79) runs above the 3-year figure (0.68). Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 594.9 %².
Within IR's tracked universe of 61 assets, UFPI comes in at #13 by 3-year correlation. Over the last 12 months IR came out ahead by 14.1 percentage points (-2.0% against -16.1%).
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 UFPI: side by side
| IR (Ingersoll Rand) | UFPI (UFP Industries, Inc.) | |
|---|---|---|
| 1-year return | -2.0% | -16.1% |
| 5-year return | +49.2% | +16.0% |
| Volatility (ann.) | 29.8% | 29.4% |
| Beta vs S&P 500 | 1.17 | 0.82 |
| Max drawdown (3Y) | -36.6% | -41.9% |
| Market cap | $30.6B | $4.7B |
| P/E (trailing) | 32.6 | 19.7 |
| Dividend yield | 0.15% | 1.64% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | IR | UFPI |
|---|---|---|
| 2022 | -15.4% | -12.9% |
| 2023 | +48.2% | +60.3% |
| 2024 | +17.1% | -9.3% |
| 2025 | -12.3% | -18.0% |
| 2026 | -0.2% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IR and UFPI good diversifiers for each other?
To a limited degree. At 0.68 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 UFPI?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.79 over the last year and 0.64 over 5 years.
Is UFPI a good diversifier for IR?
To a limited degree. At 0.68 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 0.68 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-ufpi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ir-vs-ufpi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IR correlations · UFPI correlations
