AXTA vs PPG: Correlation
Axalta Coating Systems Ltd. (AXTA) and PPG Industries (PPG) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXTA and PPG?
On 3 years of weekly data the AXTA/PPG correlation comes out at 0.70, strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.70 over 3. The 5-year figure is 0.74, and annualized covariance runs at 533.8 %².
Few assets follow AXTA as closely as PPG, which ranks #1 of 17 tracked partners. On 12-month performance AXTA holds a 12.8-point edge, +16.6% against +3.8%.
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.
AXTA vs PPG: side by side
| AXTA (Axalta Coating Systems Ltd.) | PPG (PPG Industries) | |
|---|---|---|
| 1-year return | +16.6% | +3.8% |
| 5-year return | +18.4% | -22.0% |
| Volatility (ann.) | 29.8% | 25.5% |
| Beta vs S&P 500 | 1.01 | 0.90 |
| Max drawdown (3Y) | -38.4% | -37.4% |
| Market cap | $7.9B | $25.2B |
| P/E (trailing) | 22.5 | 16.4 |
| Dividend yield | 0.00% | 2.48% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | AXTA | PPG |
|---|---|---|
| 2022 | -23.1% | -25.7% |
| 2023 | +33.4% | +21.2% |
| 2024 | +0.7% | -18.5% |
| 2025 | -5.6% | -12.0% |
| 2026 | +13.6% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXTA and PPG good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AXTA and PPG?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.69 over the last year and 0.74 over 5 years.
Is PPG a good diversifier for AXTA?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
On the −1 to +1 scale, 0.70 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/axta-vs-ppg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/axta-vs-ppg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AXTA correlations · PPG correlations
