PACK vs STRR: Correlation
Measured on weekly returns over the past three years, Ranpak Holdings Corp (PACK) and Star Equity Holdings, Inc. (STRR) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PACK and STRR?
Over the past 3 years, PACK and STRR moved with a correlation of 0.37, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.26 versus 0.37 over 3 years. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 965.9 %².
Among the 14 assets we track against PACK, STRR ranks #8 by 3-year correlation. On 12-month performance STRR holds a 14.5-point edge, -6.9% against +7.6%. Risk is not evenly split, since PACK carries 2.1 times the volatility of the other side.
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.
PACK vs STRR: side by side
| PACK (Ranpak Holdings Corp) | STRR (Star Equity Holdings, Inc.) | |
|---|---|---|
| 1-year return | -6.9% | +7.6% |
| 5-year return | -83.7% | -38.9% |
| Volatility (ann.) | 75.3% | 35.1% |
| Beta vs S&P 500 | 1.81 | 0.69 |
| Max drawdown (3Y) | -64.5% | -62.9% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PACK | STRR |
|---|---|---|
| 2022 | -84.6% | -22.0% |
| 2023 | +0.9% | -31.6% |
| 2024 | +18.2% | -15.8% |
| 2025 | -21.4% | -13.8% |
| 2026 | -7.2% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PACK and STRR good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PACK and STRR?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.26 over the last year and 0.30 over 5 years.
Is STRR a good diversifier for PACK?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/pack-vs-strr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pack-vs-strr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PACK correlations · STRR correlations
