MLM vs SHW: Correlation
Martin Marietta Materials (MLM) and Sherwin-Williams (SHW) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLM and SHW?
On 3 years of weekly data the MLM/SHW correlation comes out at 0.53, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.42 versus 0.53 over 3 years. The 5-year figure is 0.52, and annualized covariance runs at 314.9 %².
By 3-year correlation, SHW places #17 of the 36 assets tracked against MLM. The trailing year gives SHW the advantage: -13.8% versus -5.1%, a 8.7-point spread. On a rolling one-year basis the correlation drifted between 0.35 and 0.68, a moderate band.
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.
MLM vs SHW: side by side
| MLM (Martin Marietta Materials) | SHW (Sherwin-Williams) | |
|---|---|---|
| 1-year return | -13.8% | -5.1% |
| 5-year return | +42.4% | +18.3% |
| Volatility (ann.) | 23.9% | 24.6% |
| Beta vs S&P 500 | 0.85 | 0.79 |
| Max drawdown (3Y) | -26.8% | -25.7% |
| Market cap | $37.5B | $83.8B |
| P/E (trailing) | 34.4 | 31.8 |
| Dividend yield | 0.62% | 0.91% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | MLM | SHW |
|---|---|---|
| 2022 | -22.7% | -32.0% |
| 2023 | +48.6% | +32.7% |
| 2024 | +4.1% | +9.9% |
| 2025 | +21.3% | -3.8% |
| 2026 | -14.9% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLM and SHW good diversifiers for each other?
Only partially. A correlation of 0.53 means MLM and SHW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MLM and SHW?
As of 2026-08-27, the correlation of weekly returns between MLM and SHW is 0.53 over 3 years, 0.42 over 1 year and 0.52 over 5 years.
Is SHW a good diversifier for MLM?
Only partially. A correlation of 0.53 means MLM and SHW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 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/mlm-vs-shw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mlm-vs-shw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MLM correlations · SHW correlations
