OI vs SLGN: Correlation
Measured on weekly returns over the past three years, O-I Glass, Inc. (OI) and Silgan Holdings Inc. (SLGN) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OI and SLGN?
On 3 years of weekly data the OI/SLGN correlation comes out at 0.60, strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 715.6 %².
In OI's tracked universe of 12 assets, SLGN sits right near the top at #1. The last year tells two different stories: SLGN led by 36.9 percentage points, -44.8% for OI against -7.9% for SLGN.
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.
OI vs SLGN: side by side
| OI (O-I Glass, Inc.) | SLGN (Silgan Holdings Inc.) | |
|---|---|---|
| 1-year return | -44.8% | -7.9% |
| 5-year return | -53.2% | +5.9% |
| Volatility (ann.) | 40.3% | 29.4% |
| Beta vs S&P 500 | 0.91 | 0.58 |
| Max drawdown (3Y) | -68.6% | -35.0% |
| Market cap | $1.1B | $4.4B |
| P/E (trailing) | – | 16.9 |
| Dividend yield | 0.00% | 1.91% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OI | SLGN |
|---|---|---|
| 2022 | +37.7% | +22.7% |
| 2023 | -1.1% | -11.3% |
| 2024 | -33.8% | +16.8% |
| 2025 | +36.2% | -21.1% |
| 2026 | -51.2% | +4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OI and SLGN good diversifiers for each other?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between OI and SLGN?
As of 2026-08-27, the correlation of weekly returns between OI and SLGN is 0.60 over 3 years, 0.64 over 1 year and 0.55 over 5 years.
Is SLGN a good diversifier for OI?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
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/oi-vs-slgn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/oi-vs-slgn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OI correlations · SLGN correlations
