TRNR vs VTRS: Correlation
How closely do Interactive Strength Inc. (TRNR) and Viatris (VTRS) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TRNR and VTRS?
On 3 years of weekly data the TRNR/VTRS correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.13 over 1 year against -0.23 over 3. The 5-year figure is n/a, and annualized covariance runs at -1125.3 %².
Out of 15 assets tracked against TRNR, VTRS lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months VTRS outperformed by 166.7 percentage points (-98.9% for TRNR against +67.8% for VTRS). One caveat on sizing: TRNR is 4.6 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.
TRNR vs VTRS: side by side
| TRNR (Interactive Strength Inc.) | VTRS (Viatris) | |
|---|---|---|
| 1-year return | -98.9% | +67.8% |
| 5-year return | n/a | +44.6% |
| Volatility (ann.) | 151.7% | 32.8% |
| Beta vs S&P 500 | 1.38 | 0.79 |
| Max drawdown (3Y) | -100.0% | -45.0% |
| Market cap | – | $19.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.85% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | TRNR | VTRS |
|---|---|---|
| 2022 | – | -14.3% |
| 2023 | – | +2.1% |
| 2024 | -99.9% | +19.7% |
| 2025 | -97.0% | +5.1% |
| 2026 | -94.9% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TRNR and VTRS good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between TRNR and VTRS?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.13 over the last year and n/a over 5 years.
Is VTRS a good diversifier for TRNR?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/trnr-vs-vtrs.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: TRNR correlations · VTRS correlations
