APD vs TROW: Correlation
Air Products (APD) and T. Rowe Price (TROW) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APD and TROW?
Over the past 3 years, APD and TROW moved with a correlation of 0.44, which is moderate. The past 12 months show a weaker link (0.24) than the 3-year average (0.44). Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 278.4 %².
By 3-year correlation, TROW places #15 of the 33 assets tracked against APD. Their 12-month results are close: +6.5% for APD against +8.1% for TROW. On a rolling one-year basis the correlation drifted between 0.18 and 0.67, 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.
APD vs TROW: side by side
| APD (Air Products) | TROW (T. Rowe Price) | |
|---|---|---|
| 1-year return | +6.5% | +8.1% |
| 5-year return | +28.2% | -37.0% |
| Volatility (ann.) | 26.7% | 23.5% |
| Beta vs S&P 500 | 0.64 | 1.10 |
| Max drawdown (3Y) | -30.4% | -34.0% |
| Market cap | $68.0B | $24.0B |
| P/E (trailing) | – | 11.3 |
| Dividend yield | 2.35% | 4.57% |
| Sector / category | Materials | Financials |
Year-by-year returns
| Year | APD | TROW |
|---|---|---|
| 2022 | +3.9% | -42.2% |
| 2023 | -9.0% | +3.4% |
| 2024 | +8.1% | +9.7% |
| 2025 | -12.7% | -4.7% |
| 2026 | +26.1% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APD and TROW good diversifiers for each other?
Reasonably. At 0.44, APD and TROW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between APD and TROW?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.24 over the last year and 0.43 over 5 years.
Is TROW a good diversifier for APD?
Reasonably. At 0.44, APD and TROW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 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/apd-vs-trow.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apd-vs-trow/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APD correlations · TROW correlations
