MGRC vs WSC: Correlation
Measured on weekly returns over the past three years, McGrath RentCorp (MGRC) and WillScot Holdings Corporation (WSC) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGRC and WSC?
Over the past 3 years, MGRC and WSC moved with a correlation of 0.60, which is strong. The link has loosened recently: the 1-year correlation (0.48) runs below the 3-year figure (0.60). Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 717.2 %².
Few assets follow MGRC as closely as WSC, which ranks #1 of 10 tracked partners. Over the last 12 months MGRC came out ahead by 7.4 percentage points (-7.5% against -14.9%). One caveat on sizing: WSC is 1.8 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.
MGRC vs WSC: side by side
| MGRC (McGrath RentCorp) | WSC (WillScot Holdings Corporation) | |
|---|---|---|
| 1-year return | -7.5% | -14.9% |
| 5-year return | +79.8% | -27.7% |
| Volatility (ann.) | 26.1% | 45.9% |
| Beta vs S&P 500 | 0.65 | 1.72 |
| Max drawdown (3Y) | -24.9% | -70.7% |
| Market cap | $2.8B | $3.8B |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 1.72% | 1.31% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGRC | WSC |
|---|---|---|
| 2022 | +25.8% | +10.6% |
| 2023 | +23.5% | -1.5% |
| 2024 | -4.9% | -24.8% |
| 2025 | -4.6% | -43.1% |
| 2026 | +9.8% | +11.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGRC and WSC good diversifiers for each other?
Only partially. A correlation of 0.60 means MGRC and WSC 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 MGRC and WSC?
The MGRC/WSC correlation stands at 0.60 on a 3-year window (1 year: 0.48, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is WSC a good diversifier for MGRC?
Only partially. A correlation of 0.60 means MGRC and WSC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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[](https://www.pairbook.io/pair/mgrc-vs-wsc/)
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Related comparisons
Hubs: MGRC correlations · WSC correlations
