OFLX vs PPG: Correlation
How closely do Omega Flex, Inc. (OFLX) and PPG Industries (PPG) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OFLX and PPG?
Across a 3-year window, the weekly returns of OFLX and PPG correlate at 0.60, strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.60 over 3. Stretching to 5 years gives 0.44, with an annualized covariance of 579.1 %².
In OFLX's tracked universe of 10 assets, PPG sits right near the top at #2. Correlation aside, the last 12 months split them widely, with PPG ahead by 24.3 points (-20.5% versus +3.8%).
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.
OFLX vs PPG: side by side
| OFLX (Omega Flex, Inc.) | PPG (PPG Industries) | |
|---|---|---|
| 1-year return | -20.5% | +3.8% |
| 5-year return | -79.8% | -22.0% |
| Volatility (ann.) | 37.6% | 25.5% |
| Beta vs S&P 500 | 0.94 | 0.90 |
| Max drawdown (3Y) | -68.3% | -37.4% |
| Market cap | $0.3B | $25.2B |
| P/E (trailing) | 23.1 | 16.4 |
| Dividend yield | 5.06% | 2.48% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | OFLX | PPG |
|---|---|---|
| 2022 | -25.6% | -25.7% |
| 2023 | -23.4% | +21.2% |
| 2024 | -38.9% | -18.5% |
| 2025 | -26.8% | -12.0% |
| 2026 | -6.9% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OFLX and PPG good diversifiers for each other?
Only partially. A correlation of 0.60 means OFLX 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 OFLX and PPG?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.69 over the last year and 0.44 over 5 years.
Is PPG a good diversifier for OFLX?
Only partially. A correlation of 0.60 means OFLX 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 0.60 mean?
On the −1 to +1 scale, 0.60 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/oflx-vs-ppg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/oflx-vs-ppg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OFLX correlations · PPG correlations
