AMCR vs IP: Correlation
How closely do Amcor (AMCR) and International Paper (IP) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMCR and IP?
Across a 3-year window, the weekly returns of AMCR and IP correlate at 0.47, moderate. The past 12 months show a tighter link (0.66) than the 3-year average (0.47). Stretching to 5 years gives 0.52, with an annualized covariance of 439.4 %².
By 3-year correlation, IP places #19 of the 36 assets tracked against AMCR. Their recent paths diverged sharply: over the last 12 months AMCR outperformed by 26.1 percentage points (+12.6% for AMCR against -13.5% for IP). This link changes with the market regime, having swung between 0.01 and 0.66 on a rolling one-year basis. Note the risk asymmetry: IP runs 1.5 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.
AMCR vs IP: side by side
| AMCR (Amcor) | IP (International Paper) | |
|---|---|---|
| 1-year return | +12.6% | -13.5% |
| 5-year return | -9.8% | -11.2% |
| Volatility (ann.) | 24.5% | 37.8% |
| Beta vs S&P 500 | 0.46 | 0.77 |
| Max drawdown (3Y) | -32.0% | -48.6% |
| Market cap | $21.5B | $21.1B |
| P/E (trailing) | 19.8 | – |
| Dividend yield | 5.51% | 4.47% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | AMCR | IP |
|---|---|---|
| 2022 | +3.2% | -23.0% |
| 2023 | -15.0% | +10.2% |
| 2024 | +2.6% | +55.3% |
| 2025 | -9.0% | -23.8% |
| 2026 | +14.9% | +5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMCR and IP good diversifiers for each other?
Reasonably. At 0.47, AMCR and IP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AMCR and IP?
The AMCR/IP correlation stands at 0.47 on a 3-year window (1 year: 0.66, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is IP a good diversifier for AMCR?
Reasonably. At 0.47, AMCR and IP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/amcr-vs-ip.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amcr-vs-ip/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMCR correlations · IP correlations
