FUL vs PPG: Correlation
H. B. Fuller Company (FUL) and PPG Industries (PPG) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FUL and PPG?
Over the past 3 years, FUL and PPG moved with a correlation of 0.68, which is strong. The relationship has been stable: the 1-year correlation (0.69) sits close to the 3-year figure. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 539.6 %².
Few assets follow FUL as closely as PPG, which ranks #2 of 16 tracked partners. Over the last 12 months PPG came out ahead by 9.9 percentage points (-6.1% against +3.8%).
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.
FUL vs PPG: side by side
| FUL (H. B. Fuller Company) | PPG (PPG Industries) | |
|---|---|---|
| 1-year return | -6.1% | +3.8% |
| 5-year return | -10.4% | -22.0% |
| Volatility (ann.) | 31.0% | 25.5% |
| Beta vs S&P 500 | 0.93 | 0.90 |
| Max drawdown (3Y) | -43.5% | -37.4% |
| Market cap | $3.1B | $25.2B |
| P/E (trailing) | 17.2 | 16.4 |
| Dividend yield | 1.64% | 2.48% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | FUL | PPG |
|---|---|---|
| 2022 | -10.6% | -25.7% |
| 2023 | +15.0% | +21.2% |
| 2024 | -16.2% | -18.5% |
| 2025 | -10.5% | -12.0% |
| 2026 | -3.0% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FUL and PPG good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FUL and PPG?
The FUL/PPG correlation stands at 0.68 on a 3-year window (1 year: 0.69, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is PPG a good diversifier for FUL?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 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/ful-vs-ppg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ful-vs-ppg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FUL correlations · PPG correlations
