IP vs PAM: Correlation
International Paper (IP) and Pampa Energia S.A. (PAM) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IP and PAM?
On 3 years of weekly data the IP/PAM correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.41) runs below the 3-year figure (-0.17). The 5-year figure is -0.09, and annualized covariance runs at -290.6 %².
Within IP's tracked universe of 29 assets, PAM comes in at #21 by 3-year correlation. The last year tells two different stories: PAM led by 35.9 percentage points, -13.5% for IP against +22.4% for PAM.
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.
IP vs PAM: side by side
| IP (International Paper) | PAM (Pampa Energia S.A.) | |
|---|---|---|
| 1-year return | -13.5% | +22.4% |
| 5-year return | -11.2% | +339.3% |
| Volatility (ann.) | 37.8% | 45.3% |
| Beta vs S&P 500 | 0.77 | 0.38 |
| Max drawdown (3Y) | -48.6% | -40.4% |
| Market cap | $21.1B | $4.3B |
| P/E (trailing) | – | 7.3 |
| Dividend yield | 4.47% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | IP | PAM |
|---|---|---|
| 2022 | -23.0% | +51.3% |
| 2023 | +10.2% | +55.0% |
| 2024 | +55.3% | +77.6% |
| 2025 | -23.8% | +0.6% |
| 2026 | +5.0% | -8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IP and PAM good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IP and PAM?
As of 2026-08-27, the correlation of weekly returns between IP and PAM is -0.17 over 3 years, -0.41 over 1 year and -0.09 over 5 years.
Is PAM a good diversifier for IP?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
A reading of -0.17 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/ip-vs-pam.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ip-vs-pam/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IP correlations · PAM correlations
