ETN vs PPCB: Correlation
Eaton Corporation (ETN) and Propanc Biopharma, Inc. (PPCB) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETN and PPCB?
Over the past 3 years, ETN and PPCB moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.05) runs above the 3-year figure (-0.23). Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -6715398.5 %².
PPCB is close to the least connected end of ETN's tracked universe, ranking #41 of 44. The last year tells two different stories: ETN led by 116.7 percentage points, +19.7% for ETN against -97.0% for PPCB. Note the risk asymmetry: PPCB runs 31860.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ETN vs PPCB: side by side
| ETN (Eaton Corporation) | PPCB (Propanc Biopharma, Inc.) | |
|---|---|---|
| 1-year return | +19.7% | -97.0% |
| 5-year return | +164.1% | -99.9% |
| Volatility (ann.) | 30.2% | 962193.8% |
| Beta vs S&P 500 | 1.33 | -3746.20 |
| Max drawdown (3Y) | -34.5% | -99.8% |
| Market cap | $161.6B | – |
| P/E (trailing) | 42.4 | 0.0 |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ETN | PPCB |
|---|---|---|
| 2022 | -7.2% | -98.6% |
| 2023 | +56.2% | -98.0% |
| 2024 | +39.5% | -98.3% |
| 2025 | -2.8% | +134050.0% |
| 2026 | +31.7% | -83.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETN and PPCB good diversifiers for each other?
Yes. With a correlation of -0.23, ETN and PPCB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ETN and PPCB?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.05 over the last year and -0.19 over 5 years.
Is PPCB a good diversifier for ETN?
Yes. With a correlation of -0.23, ETN and PPCB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/etn-vs-ppcb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/etn-vs-ppcb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ETN correlations · PPCB correlations
