LEG vs PPG: Correlation
How closely do Leggett & Platt, Incorporated (LEG) and PPG Industries (PPG) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEG and PPG?
Across a 3-year window, the weekly returns of LEG and PPG correlate at 0.57, moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 691.9 %².
PPG is one of the assets that tracks LEG most closely: it ranks #3 out of the 16 assets we track against LEG. Over the last 12 months LEG came out ahead by 8.9 percentage points (+12.7% against +3.8%). Risk is not evenly split, since LEG carries 1.9 times the volatility of the other side.
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.
LEG vs PPG: side by side
| LEG (Leggett & Platt, Incorporated) | PPG (PPG Industries) | |
|---|---|---|
| 1-year return | +12.7% | +3.8% |
| 5-year return | -72.6% | -22.0% |
| Volatility (ann.) | 48.5% | 25.5% |
| Beta vs S&P 500 | 1.29 | 0.90 |
| Max drawdown (3Y) | -76.8% | -37.4% |
| Market cap | $1.3B | $25.2B |
| P/E (trailing) | 5.9 | 16.4 |
| Dividend yield | 2.15% | 2.48% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | LEG | PPG |
|---|---|---|
| 2022 | -17.8% | -25.7% |
| 2023 | -13.5% | +21.2% |
| 2024 | -61.9% | -18.5% |
| 2025 | +17.0% | -12.0% |
| 2026 | +1.2% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEG and PPG good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between LEG and PPG?
As of 2026-08-27, the correlation of weekly returns between LEG and PPG is 0.57 over 3 years, 0.59 over 1 year and 0.54 over 5 years.
Is PPG a good diversifier for LEG?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/leg-vs-ppg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/leg-vs-ppg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LEG correlations · PPG correlations
