AVY vs TSCO: Correlation
Avery Dennison (AVY) and Tractor Supply (TSCO) 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 TSCO?
Over the past 3 years, AVY and TSCO moved with a correlation of 0.48, which is moderate. The relationship has been stable: the 1-year correlation (0.44) sits close to the 3-year figure. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 274.8 %².
By 3-year correlation, TSCO places #25 of the 38 assets tracked against AVY. Their recent paths diverged sharply: over the last 12 months AVY outperformed by 48.3 percentage points (+5.3% for AVY against -43.0% for TSCO). On a rolling one-year basis the correlation drifted between 0.22 and 0.56, 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 TSCO: side by side
| AVY (Avery Dennison) | TSCO (Tractor Supply) | |
|---|---|---|
| 1-year return | +5.3% | -43.0% |
| 5-year return | -14.0% | -1.7% |
| Volatility (ann.) | 20.2% | 28.5% |
| Beta vs S&P 500 | 0.61 | 0.67 |
| Max drawdown (3Y) | -30.6% | -52.7% |
| Market cap | $13.5B | $18.1B |
| P/E (trailing) | 20.0 | 18.3 |
| Dividend yield | 2.10% | 2.68% |
| Sector / category | Materials | Consumer Discretionary |
Year-by-year returns
| Year | AVY | TSCO |
|---|---|---|
| 2022 | -15.1% | -4.0% |
| 2023 | +13.7% | -2.6% |
| 2024 | -5.9% | +25.4% |
| 2025 | -0.7% | -4.2% |
| 2026 | -0.8% | -29.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVY and TSCO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AVY and TSCO?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.44 over the last year and 0.39 over 5 years.
Is TSCO a good diversifier for AVY?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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-tsco.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avy-vs-tsco/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVY correlations · TSCO correlations
