AVNT vs PRGO: Correlation
How closely do Avient Corporation (AVNT) and Perrigo Company plc (PRGO) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVNT and PRGO?
Across a 3-year window, the weekly returns of AVNT and PRGO correlate at 0.46, moderate. The link has tightened recently: the 1-year correlation (0.61) runs above the 3-year figure (0.46). Stretching to 5 years gives 0.34, with an annualized covariance of 741.8 %².
Out of 35 assets tracked against AVNT, PRGO lands near the bottom at #31. Their recent paths diverged sharply: over the last 12 months AVNT outperformed by 57.8 percentage points (+21.7% for AVNT against -36.1% for PRGO).
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.
AVNT vs PRGO: side by side
| AVNT (Avient Corporation) | PRGO (Perrigo Company plc) | |
|---|---|---|
| 1-year return | +21.7% | -36.1% |
| 5-year return | -3.6% | -56.9% |
| Volatility (ann.) | 36.9% | 43.6% |
| Beta vs S&P 500 | 1.33 | 0.82 |
| Max drawdown (3Y) | -46.9% | -71.6% |
| Market cap | $4.1B | $2.0B |
| P/E (trailing) | 23.9 | – |
| Dividend yield | 2.45% | 7.86% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVNT | PRGO |
|---|---|---|
| 2022 | -38.2% | -9.8% |
| 2023 | +26.4% | -2.5% |
| 2024 | +0.6% | -16.9% |
| 2025 | -21.2% | -44.0% |
| 2026 | +43.9% | +8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVNT and PRGO good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AVNT and PRGO?
The AVNT/PRGO correlation stands at 0.46 on a 3-year window (1 year: 0.61, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is PRGO a good diversifier for AVNT?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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.
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Related comparisons
Hubs: AVNT correlations · PRGO correlations
