AMCR vs CL: Correlation
How closely do Amcor (AMCR) and Colgate-Palmolive (CL) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMCR and CL?
Over the past 3 years, AMCR and CL moved with a correlation of 0.48, which is moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 199.1 %².
Within AMCR's tracked universe of 36 assets, CL comes in at #18 by 3-year correlation. Neither side won the trailing year by much: +12.6% against +10.4%. On a rolling one-year basis the correlation drifted between 0.28 and 0.61, a moderate band.
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.
AMCR vs CL: side by side
| AMCR (Amcor) | CL (Colgate-Palmolive) | |
|---|---|---|
| 1-year return | +12.6% | +10.4% |
| 5-year return | -9.8% | +32.0% |
| Volatility (ann.) | 24.5% | 16.9% |
| Beta vs S&P 500 | 0.46 | 0.17 |
| Max drawdown (3Y) | -32.0% | -29.0% |
| Market cap | $21.5B | $72.5B |
| P/E (trailing) | 19.8 | 36.2 |
| Dividend yield | 5.51% | 2.27% |
| Sector / category | Materials | Consumer Staples |
Year-by-year returns
| Year | AMCR | CL |
|---|---|---|
| 2022 | +3.2% | -5.4% |
| 2023 | -15.0% | +3.8% |
| 2024 | +2.6% | +16.6% |
| 2025 | -9.0% | -11.0% |
| 2026 | +14.9% | +17.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMCR and CL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AMCR and CL?
The AMCR/CL correlation stands at 0.48 on a 3-year window (1 year: 0.49, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is CL a good diversifier for AMCR?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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: AMCR correlations · CL correlations
