MNRO vs PPG: Correlation
Monro, Inc. (MNRO) and PPG Industries (PPG) 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 MNRO and PPG?
Over the past 3 years, MNRO and PPG moved with a correlation of 0.53, which is moderate. Recent behaviour matches the longer record: 0.60 over 1 year against 0.53 over 3. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 674.2 %².
In MNRO's tracked universe of 11 assets, PPG sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months PPG outperformed by 27.5 percentage points (-23.7% for MNRO against +3.8% for PPG). One caveat on sizing: MNRO is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MNRO vs PPG: side by side
| MNRO (Monro, Inc.) | PPG (PPG Industries) | |
|---|---|---|
| 1-year return | -23.7% | +3.8% |
| 5-year return | -73.0% | -22.0% |
| Volatility (ann.) | 50.0% | 25.5% |
| Beta vs S&P 500 | 0.93 | 0.90 |
| Max drawdown (3Y) | -61.6% | -37.4% |
| Market cap | $0.4B | $25.2B |
| P/E (trailing) | 53.3 | 16.4 |
| Dividend yield | 8.88% | 2.48% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | MNRO | PPG |
|---|---|---|
| 2022 | -20.6% | -25.7% |
| 2023 | -33.1% | +21.2% |
| 2024 | -12.0% | -18.5% |
| 2025 | -13.8% | -12.0% |
| 2026 | -35.6% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNRO and PPG good diversifiers for each other?
Only partially. A correlation of 0.53 means MNRO and PPG 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 MNRO and PPG?
The MNRO/PPG correlation stands at 0.53 on a 3-year window (1 year: 0.60, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is PPG a good diversifier for MNRO?
Only partially. A correlation of 0.53 means MNRO and PPG 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?
On the −1 to +1 scale, 0.53 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/mnro-vs-ppg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mnro-vs-ppg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MNRO correlations · PPG correlations
