APD vs CCK: Correlation
Measured on weekly returns over the past three years, Air Products (APD) and Crown Holdings, Inc. (CCK) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APD and CCK?
Over the past 3 years, APD and CCK moved with a correlation of 0.47, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.19 versus 0.47 over 3 years. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 310.5 %².
By 3-year correlation, CCK places #7 of the 33 assets tracked against APD. Over the last 12 months CCK came out ahead by 12.5 percentage points (+6.5% against +19.0%).
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.
APD vs CCK: side by side
| APD (Air Products) | CCK (Crown Holdings, Inc.) | |
|---|---|---|
| 1-year return | +6.5% | +19.0% |
| 5-year return | +28.2% | +12.7% |
| Volatility (ann.) | 26.7% | 24.9% |
| Beta vs S&P 500 | 0.64 | 0.48 |
| Max drawdown (3Y) | -30.4% | -23.1% |
| Market cap | $68.0B | $12.8B |
| P/E (trailing) | – | 17.1 |
| Dividend yield | 2.35% | 1.02% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | APD | CCK |
|---|---|---|
| 2022 | +3.9% | -25.0% |
| 2023 | -9.0% | +13.3% |
| 2024 | +8.1% | -9.1% |
| 2025 | -12.7% | +25.9% |
| 2026 | +26.1% | +15.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APD and CCK good diversifiers for each other?
Reasonably. At 0.47, APD and CCK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between APD and CCK?
The APD/CCK correlation stands at 0.47 on a 3-year window (1 year: 0.19, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is CCK a good diversifier for APD?
Reasonably. At 0.47, APD and CCK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apd-vs-cck.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apd-vs-cck/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APD correlations · CCK correlations
