BCPC vs SHW: Correlation
How closely do Balchem Corporation (BCPC) and Sherwin-Williams (SHW) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCPC and SHW?
Across a 3-year window, the weekly returns of BCPC and SHW correlate at 0.65, strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Stretching to 5 years gives 0.60, with an annualized covariance of 360.6 %².
Few assets follow BCPC as closely as SHW, which ranks #1 of 14 tracked partners. The trailing year gives BCPC the advantage: +9.6% versus -5.1%, a 14.7-point spread.
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.
BCPC vs SHW: side by side
| BCPC (Balchem Corporation) | SHW (Sherwin-Williams) | |
|---|---|---|
| 1-year return | +9.6% | -5.1% |
| 5-year return | +31.0% | +18.3% |
| Volatility (ann.) | 22.7% | 24.6% |
| Beta vs S&P 500 | 0.57 | 0.79 |
| Max drawdown (3Y) | -23.1% | -25.7% |
| Market cap | $5.7B | $83.8B |
| P/E (trailing) | 35.4 | 31.8 |
| Dividend yield | 0.53% | 0.91% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | BCPC | SHW |
|---|---|---|
| 2022 | -27.1% | -32.0% |
| 2023 | +22.5% | +32.7% |
| 2024 | +10.2% | +9.9% |
| 2025 | -5.3% | -3.8% |
| 2026 | +16.0% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCPC and SHW good diversifiers for each other?
Only partially. A correlation of 0.65 means BCPC and SHW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BCPC and SHW?
The BCPC/SHW correlation stands at 0.65 on a 3-year window (1 year: 0.64, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is SHW a good diversifier for BCPC?
Only partially. A correlation of 0.65 means BCPC and SHW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 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/bcpc-vs-shw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bcpc-vs-shw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BCPC correlations · SHW correlations
