MHK vs SHW: Correlation
How closely do Mohawk Industries, Inc. (MHK) and Sherwin-Williams (SHW) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MHK and SHW?
Over the past 3 years, MHK and SHW moved with a correlation of 0.71, which is strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 688.7 %².
By 3-year correlation, SHW places #6 of the 27 assets tracked against MHK. Their 12-month results are close: -1.8% for MHK against -5.1% for SHW. Note the risk asymmetry: MHK runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MHK vs SHW: side by side
| MHK (Mohawk Industries, Inc.) | SHW (Sherwin-Williams) | |
|---|---|---|
| 1-year return | -1.8% | -5.1% |
| 5-year return | -35.8% | +18.3% |
| Volatility (ann.) | 39.3% | 24.6% |
| Beta vs S&P 500 | 1.13 | 0.79 |
| Max drawdown (3Y) | -42.0% | -25.7% |
| Market cap | $8.8B | $83.8B |
| P/E (trailing) | 17.5 | 31.8 |
| Dividend yield | 0.00% | 0.91% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | MHK | SHW |
|---|---|---|
| 2022 | -43.9% | -32.0% |
| 2023 | +1.3% | +32.7% |
| 2024 | +15.1% | +9.9% |
| 2025 | -8.3% | -3.8% |
| 2026 | +18.8% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MHK and SHW good diversifiers for each other?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MHK and SHW?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.75 over the last year and 0.68 over 5 years.
Is SHW a good diversifier for MHK?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.71 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/mhk-vs-shw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mhk-vs-shw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MHK correlations · SHW correlations
