AVY vs SW: Correlation
Avery Dennison (AVY) and Smurfit Westrock (SW) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVY and SW?
Across a 3-year window, the weekly returns of AVY and SW correlate at 0.52, moderate. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Stretching to 5 years gives 0.49, with an annualized covariance of 421.1 %².
Among the 38 assets we track against AVY, SW ranks #20 by 3-year correlation. Twelve-month performance is nearly a tie, at +5.3% for AVY and +9.7% for SW. Across three years, the rolling one-year figure varied moderately, from 0.36 to 0.65. Note the risk asymmetry: SW runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SW: side by side
| AVY (Avery Dennison) | SW (Smurfit Westrock) | |
|---|---|---|
| 1-year return | +5.3% | +9.7% |
| 5-year return | -14.0% | +2.6% |
| Volatility (ann.) | 20.2% | 40.1% |
| Beta vs S&P 500 | 0.61 | 0.92 |
| Max drawdown (3Y) | -30.6% | -40.5% |
| Market cap | $13.5B | $25.5B |
| P/E (trailing) | 20.0 | 51.7 |
| Dividend yield | 2.10% | 3.57% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | AVY | SW |
|---|---|---|
| 2022 | -15.1% | -28.0% |
| 2023 | +13.7% | +14.1% |
| 2024 | -5.9% | +37.6% |
| 2025 | -0.7% | -26.2% |
| 2026 | -0.8% | +29.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVY and SW good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVY and SW?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.58 over the last year and 0.49 over 5 years.
Is SW a good diversifier for AVY?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
A reading of 0.52 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-sw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avy-vs-sw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AVY correlations · SW correlations
