AVY vs IFF: Correlation
Measured on weekly returns over the past three years, Avery Dennison (AVY) and International Flavors & Fragrances (IFF) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVY and IFF?
On 3 years of weekly data the AVY/IFF correlation comes out at 0.50, moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.50 over 3. The 5-year figure is 0.51, and annualized covariance runs at 297.5 %².
Among the 38 assets we track against AVY, IFF ranks #22 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IFF outperformed by 27.9 percentage points (+5.3% for AVY against +33.2% for IFF). The rolling one-year correlation moved between 0.28 and 0.56 over the past three years, a moderate range.
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 IFF: side by side
| AVY (Avery Dennison) | IFF (International Flavors & Fragrances) | |
|---|---|---|
| 1-year return | +5.3% | +33.2% |
| 5-year return | -14.0% | -34.3% |
| Volatility (ann.) | 20.2% | 29.5% |
| Beta vs S&P 500 | 0.61 | 0.69 |
| Max drawdown (3Y) | -30.6% | -42.6% |
| Market cap | $13.5B | $22.2B |
| P/E (trailing) | 20.0 | – |
| Dividend yield | 2.10% | 1.84% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | AVY | IFF |
|---|---|---|
| 2022 | -15.1% | -28.3% |
| 2023 | +13.7% | -19.5% |
| 2024 | -5.9% | +6.3% |
| 2025 | -0.7% | -18.4% |
| 2026 | -0.8% | +30.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVY and IFF good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVY and IFF?
The AVY/IFF correlation stands at 0.50 on a 3-year window (1 year: 0.53, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is IFF a good diversifier for AVY?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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/avy-vs-iff.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/avy-vs-iff/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AVY correlations · IFF correlations
