APD vs VIG: Correlation
Measured on weekly returns over the past three years, Air Products (APD) and Vanguard Dividend Appreciation ETF (VIG) 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 VIG?
On 3 years of weekly data the APD/VIG correlation comes out at 0.47, moderate. The link has loosened recently: the 1-year correlation (0.28) runs below the 3-year figure (0.47). The 5-year figure is 0.53, and annualized covariance runs at 149.5 %².
Within APD's tracked universe of 33 assets, VIG comes in at #10 by 3-year correlation. On 12-month performance VIG holds a 10.6-point edge, +6.5% against +17.1%. On a rolling one-year basis the correlation drifted between 0.26 and 0.73, a moderate band. Note the risk asymmetry: APD runs 2.2 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.
APD vs VIG: side by side
| APD (Air Products) | VIG (Vanguard Dividend Appreciation ETF) | |
|---|---|---|
| 1-year return | +6.5% | +17.1% |
| 5-year return | +28.2% | +64.0% |
| Volatility (ann.) | 26.7% | 11.9% |
| Beta vs S&P 500 | 0.64 | 0.74 |
| Max drawdown (3Y) | -30.4% | -15.0% |
| Market cap | $68.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.35% | 1.50% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $130.9B |
| Sector / category | Materials | ETF · Dividend |
VIG, Vanguard's Large Blend fund, carries $130.9B under management, 333 holdings, a 0.04% expense ratio, a 1.50% trailing dividend yield.
Year-by-year returns
| Year | APD | VIG |
|---|---|---|
| 2022 | +3.9% | -9.8% |
| 2023 | -9.0% | +14.5% |
| 2024 | +8.1% | +17.0% |
| 2025 | -12.7% | +14.2% |
| 2026 | +26.1% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that VIG holds APD at a 0.28% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are APD and VIG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between APD and VIG?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.28 over the last year and 0.53 over 5 years.
Is VIG a good diversifier for APD?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined 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/apd-vs-vig.json
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Related comparisons
Hubs: APD correlations · VIG correlations
