IR vs WAB: Correlation
Ingersoll Rand (IR) and Wabtec (WAB) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IR and WAB?
Across a 3-year window, the weekly returns of IR and WAB correlate at 0.62, strong. The past 12 months show a weaker link (0.48) than the 3-year average (0.62). Stretching to 5 years gives 0.66, with an annualized covariance of 470.2 %².
Within IR's tracked universe of 61 assets, WAB comes in at #26 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WAB ahead by 54.9 points (-2.0% versus +52.9%). Across three years, the rolling one-year figure varied moderately, from 0.46 to 0.81.
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 WAB: side by side
| IR (Ingersoll Rand) | WAB (Wabtec) | |
|---|---|---|
| 1-year return | -2.0% | +52.9% |
| 5-year return | +49.2% | +241.0% |
| Volatility (ann.) | 29.8% | 25.3% |
| Beta vs S&P 500 | 1.17 | 0.99 |
| Max drawdown (3Y) | -36.6% | -23.6% |
| Market cap | $30.6B | $50.2B |
| P/E (trailing) | 32.6 | 40.5 |
| Dividend yield | 0.15% | 0.37% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | IR | WAB |
|---|---|---|
| 2022 | -15.4% | +9.1% |
| 2023 | +48.2% | +28.0% |
| 2024 | +17.1% | +50.1% |
| 2025 | -12.3% | +13.2% |
| 2026 | -0.2% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IR and WAB good diversifiers for each other?
To a limited degree. At 0.62 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 WAB?
As of 2026-08-27, the correlation of weekly returns between IR and WAB is 0.62 over 3 years, 0.48 over 1 year and 0.66 over 5 years.
Is WAB a good diversifier for IR?
To a limited degree. At 0.62 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 0.62 mean?
A reading of 0.62 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-wab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ir-vs-wab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IR correlations · WAB correlations
