EMR vs PM: Correlation
Emerson Electric (EMR) and Philip Morris International (PM) show a negative relationship: their 3-year correlation of weekly returns is -0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMR and PM?
Across a 3-year window, the weekly returns of EMR and PM correlate at -0.13, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.24) runs below the 3-year figure (-0.13). Stretching to 5 years gives 0.06, with an annualized covariance of -86.7 %².
Among the 47 assets we track against EMR, PM ranks #41 by 3-year correlation. Twelve-month performance is nearly a tie, at +20.0% for EMR and +20.2% for PM. This link changes with the market regime, having swung between -0.31 and 0.39 on a rolling one-year basis.
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.
EMR vs PM: side by side
| EMR (Emerson Electric) | PM (Philip Morris International) | |
|---|---|---|
| 1-year return | +20.0% | +20.2% |
| 5-year return | +65.4% | +133.5% |
| Volatility (ann.) | 28.3% | 23.1% |
| Beta vs S&P 500 | 1.29 | -0.01 |
| Max drawdown (3Y) | -29.6% | -20.6% |
| Market cap | $88.0B | $296.9B |
| P/E (trailing) | 34.5 | 26.7 |
| Dividend yield | 1.39% | 3.03% |
| Sector / category | Industrials | Consumer Staples |
Year-by-year returns
| Year | EMR | PM |
|---|---|---|
| 2022 | +5.7% | +12.3% |
| 2023 | +3.8% | -1.9% |
| 2024 | +29.7% | +34.3% |
| 2025 | +8.9% | +38.0% |
| 2026 | +20.2% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMR and PM good diversifiers for each other?
Yes. With a correlation of -0.13, EMR and PM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EMR and PM?
Using weekly returns as of 2026-08-27: -0.13 over 3 years, with -0.24 over the last year and 0.06 over 5 years.
Is PM a good diversifier for EMR?
Yes. With a correlation of -0.13, EMR and PM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.13 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/emr-vs-pm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/emr-vs-pm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EMR correlations · PM correlations
