CNH vs PPG: Correlation
CNH Industrial N.V. (CNH) and PPG Industries (PPG) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNH and PPG?
Across a 3-year window, the weekly returns of CNH and PPG correlate at 0.60, strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.60 over 3. Stretching to 5 years gives 0.56, with an annualized covariance of 509.9 %².
Among the 15 assets we track against CNH, PPG ranks #4 by 3-year correlation. The trailing year gives PPG the advantage: -4.4% versus +3.8%, a 8.2-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.
CNH vs PPG: side by side
| CNH (CNH Industrial N.V.) | PPG (PPG Industries) | |
|---|---|---|
| 1-year return | -4.4% | +3.8% |
| 5-year return | -12.0% | -22.0% |
| Volatility (ann.) | 33.5% | 25.5% |
| Beta vs S&P 500 | 0.73 | 0.90 |
| Max drawdown (3Y) | -33.2% | -37.4% |
| Market cap | $18.4B | $25.2B |
| P/E (trailing) | 45.7 | 16.4 |
| Dividend yield | 0.86% | 2.48% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | CNH | PPG |
|---|---|---|
| 2022 | -3.2% | -25.7% |
| 2023 | -22.0% | +21.2% |
| 2024 | -3.1% | -18.5% |
| 2025 | -17.1% | -12.0% |
| 2026 | +25.2% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNH and PPG good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CNH and PPG?
As of 2026-08-27, the correlation of weekly returns between CNH and PPG is 0.60 over 3 years, 0.62 over 1 year and 0.56 over 5 years.
Is PPG a good diversifier for CNH?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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/cnh-vs-ppg.json
Markdown for the live badge, attribution link included:
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CNH correlations · PPG correlations
