ALB vs PPG: Correlation
How closely do Albemarle Corporation (ALB) and PPG Industries (PPG) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALB and PPG?
Across a 3-year window, the weekly returns of ALB and PPG correlate at 0.40, moderate. The past 12 months show a weaker link (0.29) than the 3-year average (0.40). Stretching to 5 years gives 0.43, with an annualized covariance of 547.4 %².
Within ALB's tracked universe of 36 assets, PPG comes in at #21 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ALB outperformed by 53.1 percentage points (+56.9% for ALB against +3.8% for PPG). On a rolling one-year basis the correlation drifted between 0.14 and 0.59, a moderate band. Note the risk asymmetry: ALB runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ALB vs PPG: side by side
| ALB (Albemarle Corporation) | PPG (PPG Industries) | |
|---|---|---|
| 1-year return | +56.9% | +3.8% |
| 5-year return | -39.2% | -22.0% |
| Volatility (ann.) | 54.3% | 25.5% |
| Beta vs S&P 500 | 1.62 | 0.90 |
| Max drawdown (3Y) | -74.1% | -37.4% |
| Market cap | $16.0B | $25.2B |
| P/E (trailing) | 502.9 | 16.4 |
| Dividend yield | 1.20% | 2.48% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | ALB | PPG |
|---|---|---|
| 2022 | -6.6% | -25.7% |
| 2023 | -32.8% | +21.2% |
| 2024 | -39.5% | -18.5% |
| 2025 | +67.7% | -12.0% |
| 2026 | -3.5% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALB and PPG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALB and PPG?
As of 2026-08-27, the correlation of weekly returns between ALB and PPG is 0.40 over 3 years, 0.29 over 1 year and 0.43 over 5 years.
Is PPG a good diversifier for ALB?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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.
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Related comparisons
Hubs: ALB correlations · PPG correlations
