ORLY vs SHW: Correlation
Measured on weekly returns over the past three years, O'Reilly Automotive (ORLY) and Sherwin-Williams (SHW) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ORLY and SHW?
Over the past 3 years, ORLY and SHW moved with a correlation of 0.41, which is moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.41 over 3. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 201.8 %².
Among the 29 assets we track against ORLY, SHW ranks #5 by 3-year correlation. Over the last 12 months SHW came out ahead by 10.5 percentage points (-15.6% against -5.1%). The rolling one-year correlation moved between 0.22 and 0.60 over the past three years, a moderate range.
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.
ORLY vs SHW: side by side
| ORLY (O'Reilly Automotive) | SHW (Sherwin-Williams) | |
|---|---|---|
| 1-year return | -15.6% | -5.1% |
| 5-year return | +120.8% | +18.3% |
| Volatility (ann.) | 19.8% | 24.6% |
| Beta vs S&P 500 | 0.20 | 0.79 |
| Max drawdown (3Y) | -23.3% | -25.7% |
| Market cap | $71.1B | $83.8B |
| P/E (trailing) | 28.4 | 31.8 |
| Dividend yield | 0.00% | 0.91% |
| Sector / category | Consumer Discretionary | Materials |
Year-by-year returns
| Year | ORLY | SHW |
|---|---|---|
| 2022 | +19.5% | -32.0% |
| 2023 | +12.6% | +32.7% |
| 2024 | +24.8% | +9.9% |
| 2025 | +15.4% | -3.8% |
| 2026 | -3.7% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ORLY and SHW good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ORLY and SHW?
The ORLY/SHW correlation stands at 0.41 on a 3-year window (1 year: 0.42, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is SHW a good diversifier for ORLY?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 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/orly-vs-shw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/orly-vs-shw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ORLY correlations · SHW correlations
