EQNR vs PPG: Correlation
Measured on weekly returns over the past three years, Equinor ASA (EQNR) and PPG Industries (PPG) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and PPG?
Across a 3-year window, the weekly returns of EQNR and PPG correlate at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.49) than the 3-year average (-0.30). Stretching to 5 years gives -0.11, with an annualized covariance of -252.6 %².
Among the 79 assets we track against EQNR, PPG ranks #71 by 3-year correlation. The last year tells two different stories: EQNR led by 73.4 percentage points, +77.2% for EQNR against +3.8% for PPG.
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.
EQNR vs PPG: side by side
| EQNR (Equinor ASA) | PPG (PPG Industries) | |
|---|---|---|
| 1-year return | +77.2% | +3.8% |
| 5-year return | +180.6% | -22.0% |
| Volatility (ann.) | 33.2% | 25.5% |
| Beta vs S&P 500 | -0.25 | 0.90 |
| Max drawdown (3Y) | -27.6% | -37.4% |
| Market cap | $98.6B | $25.2B |
| P/E (trailing) | 11.2 | 16.4 |
| Dividend yield | 3.73% | 2.48% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | EQNR | PPG |
|---|---|---|
| 2022 | +42.8% | -25.7% |
| 2023 | -0.8% | +21.2% |
| 2024 | -16.0% | -18.5% |
| 2025 | +6.1% | -12.0% |
| 2026 | +81.8% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and PPG good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between EQNR and PPG?
The EQNR/PPG correlation stands at -0.30 on a 3-year window (1 year: -0.49, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is PPG a good diversifier for EQNR?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/eqnr-vs-ppg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eqnr-vs-ppg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EQNR correlations · PPG correlations
