APD vs SNA: Correlation
Air Products (APD) and Snap-on (SNA) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APD and SNA?
On 3 years of weekly data the APD/SNA correlation comes out at 0.51, moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.51). The 5-year figure is 0.48, and annualized covariance runs at 288.7 %².
SNA is one of the assets that tracks APD most closely: it ranks #2 out of the 33 assets we track against APD. Their recent paths diverged sharply: over the last 12 months SNA outperformed by 16.6 percentage points (+6.5% for APD against +23.1% for SNA). Across three years, the rolling one-year figure varied moderately, from 0.31 to 0.64.
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 SNA: side by side
| APD (Air Products) | SNA (Snap-on) | |
|---|---|---|
| 1-year return | +6.5% | +23.1% |
| 5-year return | +28.2% | +99.6% |
| Volatility (ann.) | 26.7% | 21.3% |
| Beta vs S&P 500 | 0.64 | 0.70 |
| Max drawdown (3Y) | -30.4% | -20.8% |
| Market cap | $68.0B | $20.5B |
| P/E (trailing) | – | 20.2 |
| Dividend yield | 2.35% | 2.38% |
| Sector / category | Materials | Industrials |
Year-by-year returns
| Year | APD | SNA |
|---|---|---|
| 2022 | +3.9% | +8.9% |
| 2023 | -9.0% | +29.7% |
| 2024 | +8.1% | +20.7% |
| 2025 | -12.7% | +4.3% |
| 2026 | +26.1% | +17.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APD and SNA good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between APD and SNA?
The APD/SNA correlation stands at 0.51 on a 3-year window (1 year: 0.28, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is SNA a good diversifier for APD?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
A reading of 0.51 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-sna.json
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Related comparisons
Hubs: APD correlations · SNA correlations
