AVY vs BALL: Correlation
Avery Dennison (AVY) and Ball Corporation (BALL) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVY and BALL?
On 3 years of weekly data the AVY/BALL correlation comes out at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. The 5-year figure is 0.47, and annualized covariance runs at 259.5 %².
Among the 38 assets we track against AVY, BALL ranks #24 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BALL outperformed by 17.6 percentage points (+5.3% for AVY against +22.9% for BALL). Across three years, the rolling one-year figure varied moderately, from 0.27 to 0.58.
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.
AVY vs BALL: side by side
| AVY (Avery Dennison) | BALL (Ball Corporation) | |
|---|---|---|
| 1-year return | +5.3% | +22.9% |
| 5-year return | -14.0% | -29.3% |
| Volatility (ann.) | 20.2% | 26.9% |
| Beta vs S&P 500 | 0.61 | 0.43 |
| Max drawdown (3Y) | -30.6% | -35.6% |
| Market cap | $13.5B | $16.8B |
| P/E (trailing) | 20.0 | 18.4 |
| Dividend yield | 2.10% | 1.25% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | AVY | BALL |
|---|---|---|
| 2022 | -15.1% | -46.2% |
| 2023 | +13.7% | +14.1% |
| 2024 | -5.9% | -3.0% |
| 2025 | -0.7% | -2.4% |
| 2026 | -0.8% | +20.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVY and BALL good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AVY and BALL?
As of 2026-08-27, the correlation of weekly returns between AVY and BALL is 0.48 over 3 years, 0.55 over 1 year and 0.47 over 5 years.
Is BALL a good diversifier for AVY?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 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/avy-vs-ball.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/avy-vs-ball/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AVY correlations · BALL correlations
