AVY vs WGO: Correlation
How closely do Avery Dennison (AVY) and Winnebago Industries, Inc. (WGO) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVY and WGO?
Over the past 3 years, AVY and WGO moved with a correlation of 0.59, which is moderate. Recent behaviour matches the longer record: 0.68 over 1 year against 0.59 over 3. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 514.4 %².
Within AVY's tracked universe of 38 assets, WGO comes in at #8 by 3-year correlation. The last year tells two different stories: AVY led by 18.6 percentage points, +5.3% for AVY against -13.3% for WGO. One caveat on sizing: WGO is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 WGO: side by side
| AVY (Avery Dennison) | WGO (Winnebago Industries, Inc.) | |
|---|---|---|
| 1-year return | +5.3% | -13.3% |
| 5-year return | -14.0% | -52.5% |
| Volatility (ann.) | 20.2% | 43.3% |
| Beta vs S&P 500 | 0.61 | 1.09 |
| Max drawdown (3Y) | -30.6% | -60.5% |
| Market cap | $13.5B | $0.9B |
| P/E (trailing) | 20.0 | 22.3 |
| Dividend yield | 2.10% | 4.51% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | AVY | WGO |
|---|---|---|
| 2022 | -15.1% | -28.7% |
| 2023 | +13.7% | +40.9% |
| 2024 | -5.9% | -33.1% |
| 2025 | -0.7% | -11.9% |
| 2026 | -0.8% | -22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVY and WGO good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AVY and WGO?
The AVY/WGO correlation stands at 0.59 on a 3-year window (1 year: 0.68, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is WGO a good diversifier for AVY?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 mean?
A reading of 0.59 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-wgo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/avy-vs-wgo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVY correlations · WGO correlations
