AGRO vs MMM: Correlation
How closely do Adecoagro S.A. (AGRO) and 3M (MMM) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGRO and MMM?
Over the past 3 years, AGRO and MMM moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.37 versus -0.18 over 3 years. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -221.8 %².
Within AGRO's tracked universe of 36 assets, MMM comes in at #15 by 3-year correlation. Over the last 12 months AGRO came out ahead by 11.7 percentage points (+28.1% against +16.4%).
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.
AGRO vs MMM: side by side
| AGRO (Adecoagro S.A.) | MMM (3M) | |
|---|---|---|
| 1-year return | +28.1% | +16.4% |
| 5-year return | +29.1% | +29.9% |
| Volatility (ann.) | 41.7% | 29.8% |
| Beta vs S&P 500 | -0.27 | 0.89 |
| Max drawdown (3Y) | -41.3% | -20.7% |
| Market cap | $1.5B | $92.2B |
| P/E (trailing) | 28.9 | 31.9 |
| Dividend yield | 0.00% | 1.68% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | AGRO | MMM |
|---|---|---|
| 2022 | +11.5% | -29.6% |
| 2023 | +38.6% | -3.3% |
| 2024 | -12.4% | +46.1% |
| 2025 | -14.3% | +26.4% |
| 2026 | +36.0% | +13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGRO and MMM good diversifiers for each other?
Yes. With a correlation of -0.18, AGRO and MMM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AGRO and MMM?
As of 2026-08-27, the correlation of weekly returns between AGRO and MMM is -0.18 over 3 years, -0.37 over 1 year and -0.07 over 5 years.
Is MMM a good diversifier for AGRO?
Yes. With a correlation of -0.18, AGRO and MMM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/agro-vs-mmm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/agro-vs-mmm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AGRO correlations · MMM correlations
