TEX vs URI: Correlation
Measured on weekly returns over the past three years, Terex Corporation (TEX) and United Rentals (URI) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TEX and URI?
On 3 years of weekly data the TEX/URI correlation comes out at 0.67, strong. Lately the two have drifted apart, with the 1-year correlation at 0.48 versus 0.67 over 3 years. The 5-year figure is 0.72, and annualized covariance runs at 1087.9 %².
By 3-year correlation, URI places #6 of the 23 assets tracked against TEX. Over the last 12 months TEX came out ahead by 14.0 percentage points (+24.2% against +10.2%).
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.
TEX vs URI: side by side
| TEX (Terex Corporation) | URI (United Rentals) | |
|---|---|---|
| 1-year return | +24.2% | +10.2% |
| 5-year return | +31.7% | +204.1% |
| Volatility (ann.) | 41.0% | 39.5% |
| Beta vs S&P 500 | 1.38 | 1.42 |
| Max drawdown (3Y) | -51.3% | -37.0% |
| Market cap | $7.4B | $64.6B |
| P/E (trailing) | 31.2 | 25.4 |
| Dividend yield | 1.04% | 0.71% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | TEX | URI |
|---|---|---|
| 2022 | -1.4% | +7.0% |
| 2023 | +36.1% | +63.6% |
| 2024 | -18.6% | +24.0% |
| 2025 | +17.3% | +15.9% |
| 2026 | +21.9% | +29.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TEX and URI good diversifiers for each other?
Only partially. A correlation of 0.67 means TEX and URI 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 TEX and URI?
As of 2026-08-27, the correlation of weekly returns between TEX and URI is 0.67 over 3 years, 0.48 over 1 year and 0.72 over 5 years.
Is URI a good diversifier for TEX?
Only partially. A correlation of 0.67 means TEX and URI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
A reading of 0.67 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/tex-vs-uri.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tex-vs-uri/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TEX correlations · URI correlations
