BALL vs CCEP: Correlation
How closely do Ball Corporation (BALL) and Coca-Cola Europacific Partners plc (CCEP) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BALL and CCEP?
On 3 years of weekly data the BALL/CCEP correlation comes out at 0.48, moderate. The link has tightened recently: the 1-year correlation (0.61) runs above the 3-year figure (0.48). The 5-year figure is 0.47, and annualized covariance runs at 249.2 %².
By 3-year correlation, CCEP places #20 of the 41 assets tracked against BALL. Their 12-month results are close: +22.9% for BALL against +24.5% for CCEP.
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.
BALL vs CCEP: side by side
| BALL (Ball Corporation) | CCEP (Coca-Cola Europacific Partners plc) | |
|---|---|---|
| 1-year return | +22.9% | +24.5% |
| 5-year return | -29.3% | +115.3% |
| Volatility (ann.) | 26.9% | 19.3% |
| Beta vs S&P 500 | 0.43 | 0.39 |
| Max drawdown (3Y) | -35.6% | -18.2% |
| Market cap | $16.8B | $47.4B |
| P/E (trailing) | 18.4 | 21.0 |
| Dividend yield | 1.25% | 1.90% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | BALL | CCEP |
|---|---|---|
| 2022 | -46.2% | +2.3% |
| 2023 | +14.1% | +24.5% |
| 2024 | -3.0% | +18.4% |
| 2025 | -2.4% | +21.2% |
| 2026 | +20.4% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BALL and CCEP good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BALL and CCEP?
The BALL/CCEP correlation stands at 0.48 on a 3-year window (1 year: 0.61, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is CCEP a good diversifier for BALL?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ball-vs-ccep.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ball-vs-ccep/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BALL correlations · CCEP correlations
