MGRC vs NPO: Correlation
McGrath RentCorp (MGRC) and Enpro Inc. (NPO) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGRC and NPO?
On 3 years of weekly data the MGRC/NPO correlation comes out at 0.57, moderate. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 508.9 %².
In MGRC's tracked universe of 10 assets, NPO sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months NPO outperformed by 44.6 percentage points (-7.5% for MGRC against +37.1% for NPO).
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.
MGRC vs NPO: side by side
| MGRC (McGrath RentCorp) | NPO (Enpro Inc.) | |
|---|---|---|
| 1-year return | -7.5% | +37.1% |
| 5-year return | +79.8% | +270.5% |
| Volatility (ann.) | 26.1% | 34.4% |
| Beta vs S&P 500 | 0.65 | 1.27 |
| Max drawdown (3Y) | -24.9% | -33.7% |
| Market cap | $2.8B | $6.5B |
| P/E (trailing) | 18.4 | 149.1 |
| Dividend yield | 1.72% | 0.41% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGRC | NPO |
|---|---|---|
| 2022 | +25.8% | -0.2% |
| 2023 | +23.5% | +45.6% |
| 2024 | -4.9% | +10.9% |
| 2025 | -4.6% | +25.0% |
| 2026 | +9.8% | +44.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGRC and NPO good diversifiers for each other?
To a limited degree. At 0.57 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 MGRC and NPO?
The MGRC/NPO correlation stands at 0.57 on a 3-year window (1 year: 0.60, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is NPO a good diversifier for MGRC?
To a limited degree. At 0.57 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 0.57 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/mgrc-vs-npo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mgrc-vs-npo/)
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Related comparisons
Hubs: MGRC correlations · NPO correlations
