PGR vs WM: Correlation
How closely do Progressive Corporation (PGR) and Waste Management (WM) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PGR and WM?
Over the past 3 years, PGR and WM moved with a correlation of 0.42, which is moderate. The relationship has been stable: the 1-year correlation (0.44) sits close to the 3-year figure. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 181.8 %².
Within PGR's tracked universe of 36 assets, WM comes in at #17 by 3-year correlation. Twelve-month performance is nearly a tie, at -5.3% for PGR and -2.0% for WM. The rolling one-year correlation moved between 0.16 and 0.62 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.
PGR vs WM: side by side
| PGR (Progressive Corporation) | WM (Waste Management) | |
|---|---|---|
| 1-year return | -5.3% | -2.0% |
| 5-year return | +153.0% | +51.8% |
| Volatility (ann.) | 23.6% | 18.3% |
| Beta vs S&P 500 | 0.32 | 0.07 |
| Max drawdown (3Y) | -30.4% | -18.1% |
| Market cap | $126.5B | $87.0B |
| P/E (trailing) | 10.9 | 30.8 |
| Dividend yield | 0.18% | 1.60% |
| Sector / category | Financials | Industrials |
Year-by-year returns
| Year | PGR | WM |
|---|---|---|
| 2022 | +26.8% | -4.5% |
| 2023 | +23.2% | +16.2% |
| 2024 | +51.4% | +14.3% |
| 2025 | -3.0% | +10.5% |
| 2026 | +1.7% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PGR and WM good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PGR and WM?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.44 over the last year and 0.38 over 5 years.
Is WM a good diversifier for PGR?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/pgr-vs-wm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pgr-vs-wm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PGR correlations · WM correlations
