IFF vs SW: Correlation
How closely do International Flavors & Fragrances (IFF) and Smurfit Westrock (SW) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IFF and SW?
Over the past 3 years, IFF and SW moved with a correlation of 0.48, which is moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 565.2 %².
Among the 32 assets we track against IFF, SW ranks #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IFF outperformed by 23.5 percentage points (+33.2% for IFF against +9.7% for SW). Across three years, the rolling one-year figure varied moderately, from 0.26 to 0.67.
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.
IFF vs SW: side by side
| IFF (International Flavors & Fragrances) | SW (Smurfit Westrock) | |
|---|---|---|
| 1-year return | +33.2% | +9.7% |
| 5-year return | -34.3% | +2.6% |
| Volatility (ann.) | 29.5% | 40.1% |
| Beta vs S&P 500 | 0.69 | 0.92 |
| Max drawdown (3Y) | -42.6% | -40.5% |
| Market cap | $22.2B | $25.5B |
| P/E (trailing) | – | 51.7 |
| Dividend yield | 1.84% | 3.57% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | IFF | SW |
|---|---|---|
| 2022 | -28.3% | -28.0% |
| 2023 | -19.5% | +14.1% |
| 2024 | +6.3% | +37.6% |
| 2025 | -18.4% | -26.2% |
| 2026 | +30.3% | +29.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IFF and SW good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IFF and SW?
As of 2026-08-27, the correlation of weekly returns between IFF and SW is 0.48 over 3 years, 0.56 over 1 year and 0.44 over 5 years.
Is SW a good diversifier for IFF?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
A reading of 0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iff-vs-sw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iff-vs-sw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IFF correlations · SW correlations
