IP vs SON: Correlation
Measured on weekly returns over the past three years, International Paper (IP) and Sonoco Products Company (SON) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IP and SON?
On 3 years of weekly data the IP/SON correlation comes out at 0.52, moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.52 over 3. The 5-year figure is 0.53, and annualized covariance runs at 501.6 %².
Within IP's tracked universe of 29 assets, SON comes in at #9 by 3-year correlation. The last year tells two different stories: SON led by 40.0 percentage points, -13.5% for IP against +26.5% for SON.
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 SON: side by side
| IP (International Paper) | SON (Sonoco Products Company) | |
|---|---|---|
| 1-year return | -13.5% | +26.5% |
| 5-year return | -11.2% | +4.8% |
| Volatility (ann.) | 37.8% | 25.7% |
| Beta vs S&P 500 | 0.77 | 0.62 |
| Max drawdown (3Y) | -48.6% | -32.5% |
| Market cap | $21.1B | $5.6B |
| P/E (trailing) | – | 8.9 |
| Dividend yield | 4.47% | 3.70% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | IP | SON |
|---|---|---|
| 2022 | -23.0% | +8.3% |
| 2023 | +10.2% | -4.7% |
| 2024 | +55.3% | -9.1% |
| 2025 | -23.8% | -6.3% |
| 2026 | +5.0% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IP and SON good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IP and SON?
As of 2026-08-27, the correlation of weekly returns between IP and SON is 0.52 over 3 years, 0.54 over 1 year and 0.53 over 5 years.
Is SON a good diversifier for IP?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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/ip-vs-son.json
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Related comparisons
Hubs: IP correlations · SON correlations
