NGVT vs SW: Correlation
How closely do Ingevity Corporation (NGVT) and Smurfit Westrock (SW) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NGVT and SW?
On 3 years of weekly data the NGVT/SW correlation comes out at 0.53, moderate. Recent behaviour matches the longer record: 0.63 over 1 year against 0.53 over 3. The 5-year figure is 0.46, and annualized covariance runs at 1038.6 %².
By 3-year correlation, SW places #10 of the 23 assets tracked against NGVT. The trailing year gives NGVT the advantage: +21.5% versus +9.7%, a 11.8-point spread.
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.
NGVT vs SW: side by side
| NGVT (Ingevity Corporation) | SW (Smurfit Westrock) | |
|---|---|---|
| 1-year return | +21.5% | +9.7% |
| 5-year return | -14.1% | +2.6% |
| Volatility (ann.) | 48.8% | 40.1% |
| Beta vs S&P 500 | 1.39 | 0.92 |
| Max drawdown (3Y) | -45.8% | -40.5% |
| Market cap | $2.4B | $25.5B |
| P/E (trailing) | 98.2 | 51.7 |
| Dividend yield | 0.00% | 3.57% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | NGVT | SW |
|---|---|---|
| 2022 | -1.8% | -28.0% |
| 2023 | -33.0% | +14.1% |
| 2024 | -13.7% | +37.6% |
| 2025 | +45.2% | -26.2% |
| 2026 | +17.8% | +29.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NGVT and SW good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NGVT and SW?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.63 over the last year and 0.46 over 5 years.
Is SW a good diversifier for NGVT?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
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/ngvt-vs-sw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ngvt-vs-sw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NGVT correlations · SW correlations
