OMC vs RNG: Correlation
How closely do Omnicom Group (OMC) and RingCentral, Inc. (RNG) 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 OMC and RNG?
Over the past 3 years, OMC and RNG moved with a correlation of 0.49, which is moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.49 over 3. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 715.2 %².
Within OMC's tracked universe of 36 assets, RNG comes in at #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RNG ahead by 107.8 points (+16.5% versus +124.3%). Note the risk asymmetry: RNG runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
OMC vs RNG: side by side
| OMC (Omnicom Group) | RNG (RingCentral, Inc.) | |
|---|---|---|
| 1-year return | +16.5% | +124.3% |
| 5-year return | +45.6% | -73.1% |
| Volatility (ann.) | 28.0% | 52.2% |
| Beta vs S&P 500 | 0.76 | 1.54 |
| Max drawdown (3Y) | -33.3% | -48.6% |
| Market cap | $24.1B | $5.7B |
| P/E (trailing) | 237.5 | 52.7 |
| Dividend yield | 3.53% | 0.23% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | OMC | RNG |
|---|---|---|
| 2022 | +15.7% | -81.1% |
| 2023 | +9.6% | -4.1% |
| 2024 | +2.5% | +3.1% |
| 2025 | -2.6% | -17.5% |
| 2026 | +11.1% | +138.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OMC and RNG 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 OMC and RNG?
The OMC/RNG correlation stands at 0.49 on a 3-year window (1 year: 0.49, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is RNG a good diversifier for OMC?
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/omc-vs-rng.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/omc-vs-rng/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OMC correlations · RNG correlations
