BF.B vs PPG: Correlation
How closely do Brown–Forman (BF.B) and PPG Industries (PPG) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BF.B and PPG?
Over the past 3 years, BF.B and PPG moved with a correlation of 0.49, which is moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.49 over 3. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 424.4 %².
By 3-year correlation, PPG places #4 of the 36 assets tracked against BF.B. On 12-month performance PPG holds a 11.2-point edge, -7.4% against +3.8%. The rolling one-year correlation moved between 0.32 and 0.67 over the past three years, a moderate range.
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 PPG: side by side
| BF.B (Brown–Forman) | PPG (PPG Industries) | |
|---|---|---|
| 1-year return | -7.4% | +3.8% |
| 5-year return | -56.8% | -22.0% |
| Volatility (ann.) | 34.0% | 25.5% |
| Beta vs S&P 500 | 0.51 | 0.90 |
| Max drawdown (3Y) | -64.8% | -37.4% |
| Market cap | $12.5B | $25.2B |
| P/E (trailing) | 18.3 | 16.4 |
| Dividend yield | 3.26% | 2.48% |
| Sector / category | Consumer Staples | Materials |
Year-by-year returns
| Year | BF.B | PPG |
|---|---|---|
| 2022 | -8.9% | -25.7% |
| 2023 | -11.9% | +21.2% |
| 2024 | -32.2% | -18.5% |
| 2025 | -29.3% | -12.0% |
| 2026 | +6.6% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BF.B and PPG good diversifiers for each other?
Reasonably. At 0.49, BF.B and PPG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BF.B and PPG?
The BF.B/PPG correlation stands at 0.49 on a 3-year window (1 year: 0.53, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is PPG a good diversifier for BF.B?
Reasonably. At 0.49, BF.B and PPG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/bf-b-vs-ppg.json
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Related comparisons
Hubs: BF.B correlations · PPG correlations
