BF.B vs PAPL: Correlation
Measured on weekly returns over the past three years, Brown–Forman (BF.B) and Pineapple Financial Inc. (PAPL) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BF.B and PAPL?
Over the past 3 years, BF.B and PAPL moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.21 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1283.3 %².
By 3-year correlation, PAPL places #30 of the 36 assets tracked against BF.B. Their recent paths diverged sharply: over the last 12 months BF.B outperformed by 63.3 percentage points (-7.4% for BF.B against -70.7% for PAPL). Risk is not evenly split, since PAPL carries 5.3 times the volatility of the other side.
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.
BF.B vs PAPL: side by side
| BF.B (Brown–Forman) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | -7.4% | -70.7% |
| 5-year return | -56.8% | n/a |
| Volatility (ann.) | 34.0% | 181.2% |
| Beta vs S&P 500 | 0.51 | -0.73 |
| Max drawdown (3Y) | -64.8% | -99.4% |
| Market cap | $12.5B | – |
| P/E (trailing) | 18.3 | – |
| Dividend yield | 3.26% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | BF.B | PAPL |
|---|---|---|
| 2022 | -8.9% | – |
| 2023 | -11.9% | – |
| 2024 | -32.2% | -74.7% |
| 2025 | -29.3% | -84.4% |
| 2026 | +6.6% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BF.B and PAPL good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BF.B and PAPL?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.20 over the last year and n/a over 5 years.
Is PAPL a good diversifier for BF.B?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
A reading of -0.21 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/bf-b-vs-papl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bf-b-vs-papl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BF.B correlations · PAPL correlations
