ALLE vs SHW: Correlation
Allegion (ALLE) and Sherwin-Williams (SHW) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLE and SHW?
On 3 years of weekly data the ALLE/SHW correlation comes out at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 355.0 %².
Among the 33 assets we track against ALLE, SHW ranks #14 by 3-year correlation. Neither side won the trailing year by much: -6.4% against -5.1%. The rolling one-year correlation moved between 0.38 and 0.79 over the past three years, a moderate range.
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.
ALLE vs SHW: side by side
| ALLE (Allegion) | SHW (Sherwin-Williams) | |
|---|---|---|
| 1-year return | -6.4% | -5.1% |
| 5-year return | +19.4% | +18.3% |
| Volatility (ann.) | 24.3% | 24.6% |
| Beta vs S&P 500 | 0.60 | 0.79 |
| Max drawdown (3Y) | -29.8% | -25.7% |
| Market cap | $13.6B | $83.8B |
| P/E (trailing) | 21.0 | 31.8 |
| Dividend yield | 1.32% | 0.91% |
| Sector / category | Industrials | Materials |
Year-by-year returns
| Year | ALLE | SHW |
|---|---|---|
| 2022 | -19.3% | -32.0% |
| 2023 | +22.3% | +32.7% |
| 2024 | +4.7% | +9.9% |
| 2025 | +22.8% | -3.8% |
| 2026 | +1.1% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLE and SHW good diversifiers for each other?
Only partially. A correlation of 0.59 means ALLE and SHW 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 ALLE and SHW?
As of 2026-08-27, the correlation of weekly returns between ALLE and SHW is 0.59 over 3 years, 0.50 over 1 year and 0.61 over 5 years.
Is SHW a good diversifier for ALLE?
Only partially. A correlation of 0.59 means ALLE and SHW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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/alle-vs-shw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alle-vs-shw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALLE correlations · SHW correlations
