MNRO vs OI: Correlation
How closely do Monro, Inc. (MNRO) and O-I Glass, Inc. (OI) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNRO and OI?
Across a 3-year window, the weekly returns of MNRO and OI correlate at 0.55, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.73 versus 0.55 over 3 years. Stretching to 5 years gives 0.47, with an annualized covariance of 1116.6 %².
In MNRO's tracked universe of 11 assets, OI sits right near the top at #1. The last year tells two different stories: MNRO led by 21.1 percentage points, -23.7% for MNRO against -44.8% for OI.
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.
MNRO vs OI: side by side
| MNRO (Monro, Inc.) | OI (O-I Glass, Inc.) | |
|---|---|---|
| 1-year return | -23.7% | -44.8% |
| 5-year return | -73.0% | -53.2% |
| Volatility (ann.) | 50.0% | 40.3% |
| Beta vs S&P 500 | 0.93 | 0.91 |
| Max drawdown (3Y) | -61.6% | -68.6% |
| Market cap | $0.4B | $1.1B |
| P/E (trailing) | 53.3 | – |
| Dividend yield | 8.88% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MNRO | OI |
|---|---|---|
| 2022 | -20.6% | +37.7% |
| 2023 | -33.1% | -1.1% |
| 2024 | -12.0% | -33.8% |
| 2025 | -13.8% | +36.2% |
| 2026 | -35.6% | -51.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNRO and OI good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MNRO and OI?
The MNRO/OI correlation stands at 0.55 on a 3-year window (1 year: 0.73, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is OI a good diversifier for MNRO?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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
$ curl https://www.pairbook.io/api/v1/pairs/mnro-vs-oi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mnro-vs-oi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MNRO correlations · OI correlations
