AMBP vs BALL: Correlation
How closely do Ardagh Metal Packaging S.A. (AMBP) and Ball Corporation (BALL) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMBP and BALL?
Over the past 3 years, AMBP and BALL moved with a correlation of 0.56, which is moderate. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 643.9 %².
BALL is one of the assets that tracks AMBP most closely: it ranks #1 out of the 12 assets we track against AMBP. The last year tells two different stories: AMBP led by 24.1 percentage points, +47.0% for AMBP against +22.9% for BALL. Risk is not evenly split, since AMBP carries 1.6 times the volatility of the other side.
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.
AMBP vs BALL: side by side
| AMBP (Ardagh Metal Packaging S.A.) | BALL (Ball Corporation) | |
|---|---|---|
| 1-year return | +47.0% | +22.9% |
| 5-year return | -26.6% | -29.3% |
| Volatility (ann.) | 43.0% | 26.9% |
| Beta vs S&P 500 | 0.71 | 0.43 |
| Max drawdown (3Y) | -39.2% | -35.6% |
| Market cap | $3.1B | $16.8B |
| P/E (trailing) | 103.4 | 18.4 |
| Dividend yield | 7.65% | 1.25% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | AMBP | BALL |
|---|---|---|
| 2022 | -42.5% | -46.2% |
| 2023 | -11.5% | +14.1% |
| 2024 | -12.4% | -3.0% |
| 2025 | +49.2% | -2.4% |
| 2026 | +32.3% | +20.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMBP and BALL good diversifiers for each other?
Only partially. A correlation of 0.56 means AMBP and BALL 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 AMBP and BALL?
As of 2026-08-27, the correlation of weekly returns between AMBP and BALL is 0.56 over 3 years, 0.56 over 1 year and 0.58 over 5 years.
Is BALL a good diversifier for AMBP?
Only partially. A correlation of 0.56 means AMBP and BALL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 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/ambp-vs-ball.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ambp-vs-ball/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMBP correlations · BALL correlations
