MMM vs PH: Correlation
How closely do 3M (MMM) and Parker Hannifin (PH) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MMM and PH?
Across a 3-year window, the weekly returns of MMM and PH correlate at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 390.3 %².
Within MMM's tracked universe of 34 assets, PH comes in at #20 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PH outperformed by 16.4 percentage points (+16.4% for MMM against +32.8% for PH). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.12 to 0.79.
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.
MMM vs PH: side by side
| MMM (3M) | PH (Parker Hannifin) | |
|---|---|---|
| 1-year return | +16.4% | +32.8% |
| 5-year return | +29.9% | +256.4% |
| Volatility (ann.) | 29.8% | 26.6% |
| Beta vs S&P 500 | 0.89 | 1.16 |
| Max drawdown (3Y) | -20.7% | -26.8% |
| Market cap | $92.2B | $127.5B |
| P/E (trailing) | 31.9 | 36.5 |
| Dividend yield | 1.68% | 0.71% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | MMM | PH |
|---|---|---|
| 2022 | -29.6% | -6.9% |
| 2023 | -3.3% | +60.8% |
| 2024 | +46.1% | +39.6% |
| 2025 | +26.4% | +39.5% |
| 2026 | +13.3% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MMM and PH good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MMM and PH?
The MMM/PH correlation stands at 0.49 on a 3-year window (1 year: 0.53, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is PH a good diversifier for MMM?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 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/mmm-vs-ph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mmm-vs-ph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MMM correlations · PH correlations
