IR vs ULH: Correlation
Ingersoll Rand (IR) and Universal Logistics Holdings, Inc. (ULH) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IR and ULH?
Over the past 3 years, IR and ULH moved with a correlation of 0.51, which is moderate. The link has loosened recently: the 1-year correlation (0.33) runs below the 3-year figure (0.51). Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 1031.2 %².
By 3-year correlation, ULH places #44 of the 61 assets tracked against IR. Correlation aside, the last 12 months split them widely, with IR ahead by 24.0 points (-2.0% versus -26.0%). One caveat on sizing: ULH is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 ULH: side by side
| IR (Ingersoll Rand) | ULH (Universal Logistics Holdings, Inc.) | |
|---|---|---|
| 1-year return | -2.0% | -26.0% |
| 5-year return | +49.2% | -5.6% |
| Volatility (ann.) | 29.8% | 68.3% |
| Beta vs S&P 500 | 1.17 | 1.46 |
| Max drawdown (3Y) | -36.6% | -76.1% |
| Market cap | $30.6B | $0.5B |
| P/E (trailing) | 32.6 | – |
| Dividend yield | 0.15% | 2.19% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | IR | ULH |
|---|---|---|
| 2022 | -15.4% | +79.9% |
| 2023 | +48.2% | -14.9% |
| 2024 | +17.1% | +65.6% |
| 2025 | -12.3% | -66.3% |
| 2026 | -0.2% | +26.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IR and ULH good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IR and ULH?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.33 over the last year and 0.48 over 5 years.
Is ULH a good diversifier for IR?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
A reading of 0.51 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-ulh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ir-vs-ulh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IR correlations · ULH correlations
