BP vs SHW: Correlation
BP p.l.c. (BP) and Sherwin-Williams (SHW) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BP and SHW?
On 3 years of weekly data the BP/SHW correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.27 over 3 years. The 5-year figure is -0.09, and annualized covariance runs at -175.4 %².
Among the 26 assets we track against BP, SHW sits near the bottom by co-movement, at rank #23. The last year tells two different stories: BP led by 32.7 percentage points, +27.6% for BP against -5.1% for SHW.
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.
BP vs SHW: side by side
| BP (BP p.l.c.) | SHW (Sherwin-Williams) | |
|---|---|---|
| 1-year return | +27.6% | -5.1% |
| 5-year return | +119.9% | +18.3% |
| Volatility (ann.) | 26.6% | 24.6% |
| Beta vs S&P 500 | 0.06 | 0.79 |
| Max drawdown (3Y) | -30.6% | -25.7% |
| Market cap | $109.0B | $83.8B |
| P/E (trailing) | 20.3 | 31.8 |
| Dividend yield | 0.79% | 0.91% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | BP | SHW |
|---|---|---|
| 2022 | +37.0% | -32.0% |
| 2023 | +6.0% | +32.7% |
| 2024 | -11.8% | +9.9% |
| 2025 | +24.5% | -3.8% |
| 2026 | +26.4% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BP and SHW good diversifiers for each other?
Yes. With a correlation of -0.27, BP and SHW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BP and SHW?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.40 over the last year and -0.09 over 5 years.
Is SHW a good diversifier for BP?
Yes. With a correlation of -0.27, BP and SHW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 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/bp-vs-shw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bp-vs-shw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BP correlations · SHW correlations
