AVY vs PKG: Correlation
Avery Dennison (AVY) and Packaging Corporation of America (PKG) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVY and PKG?
Over the past 3 years, AVY and PKG moved with a correlation of 0.49, which is moderate. The relationship has been stable: the 1-year correlation (0.43) sits close to the 3-year figure. Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 233.9 %².
By 3-year correlation, PKG places #23 of the 38 assets tracked against AVY. Over the last 12 months PKG came out ahead by 13.2 percentage points (+5.3% against +18.5%). On a rolling one-year basis the correlation drifted between 0.28 and 0.68, a moderate band.
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 PKG: side by side
| AVY (Avery Dennison) | PKG (Packaging Corporation of America) | |
|---|---|---|
| 1-year return | +5.3% | +18.5% |
| 5-year return | -14.0% | +86.8% |
| Volatility (ann.) | 20.2% | 23.5% |
| Beta vs S&P 500 | 0.61 | 0.52 |
| Max drawdown (3Y) | -30.6% | -28.4% |
| Market cap | $13.5B | $21.7B |
| P/E (trailing) | 20.0 | 31.6 |
| Dividend yield | 2.10% | 2.13% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | AVY | PKG |
|---|---|---|
| 2022 | -15.1% | -2.6% |
| 2023 | +13.7% | +31.9% |
| 2024 | -5.9% | +41.7% |
| 2025 | -0.7% | -6.1% |
| 2026 | -0.8% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVY and PKG good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AVY and PKG?
The AVY/PKG correlation stands at 0.49 on a 3-year window (1 year: 0.43, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is PKG a good diversifier for AVY?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/avy-vs-pkg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/avy-vs-pkg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AVY correlations · PKG correlations
