ASH vs BF.B: Correlation
Measured on weekly returns over the past three years, Ashland Inc. (ASH) and Brown–Forman (BF.B) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASH and BF.B?
Over the past 3 years, ASH and BF.B moved with a correlation of 0.44, which is moderate. The past 12 months show a tighter link (0.56) than the 3-year average (0.44). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 469.5 %².
By 3-year correlation, BF.B places #7 of the 12 assets tracked against ASH. Correlation aside, the last 12 months split them widely, with ASH ahead by 42.1 points (+34.7% versus -7.4%).
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.
ASH vs BF.B: side by side
| ASH (Ashland Inc.) | BF.B (Brown–Forman) | |
|---|---|---|
| 1-year return | +34.7% | -7.4% |
| 5-year return | -6.5% | -56.8% |
| Volatility (ann.) | 31.6% | 34.0% |
| Beta vs S&P 500 | 0.98 | 0.51 |
| Max drawdown (3Y) | -53.3% | -64.8% |
| Market cap | $3.4B | $12.5B |
| P/E (trailing) | 47.7 | 18.3 |
| Dividend yield | 2.24% | 3.26% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | ASH | BF.B |
|---|---|---|
| 2022 | +1.1% | -8.9% |
| 2023 | -20.2% | -11.9% |
| 2024 | -13.7% | -32.2% |
| 2025 | -15.4% | -29.3% |
| 2026 | +27.8% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASH and BF.B good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ASH and BF.B?
The ASH/BF.B correlation stands at 0.44 on a 3-year window (1 year: 0.56, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is BF.B a good diversifier for ASH?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/ash-vs-bf-b.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ash-vs-bf-b/)
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Related comparisons
Hubs: ASH correlations · BF.B correlations
