PKG vs PPG: Correlation
How closely do Packaging Corporation of America (PKG) and PPG Industries (PPG) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PKG and PPG?
On 3 years of weekly data the PKG/PPG correlation comes out at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 347.8 %².
By 3-year correlation, PPG places #5 of the 32 assets tracked against PKG. The trailing year gives PKG the advantage: +18.5% versus +3.8%, a 14.7-point spread. On a rolling one-year basis the correlation drifted between 0.29 and 0.68, a moderate band.
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.
PKG vs PPG: side by side
| PKG (Packaging Corporation of America) | PPG (PPG Industries) | |
|---|---|---|
| 1-year return | +18.5% | +3.8% |
| 5-year return | +86.8% | -22.0% |
| Volatility (ann.) | 23.5% | 25.5% |
| Beta vs S&P 500 | 0.52 | 0.90 |
| Max drawdown (3Y) | -28.4% | -37.4% |
| Market cap | $21.7B | $25.2B |
| P/E (trailing) | 31.6 | 16.4 |
| Dividend yield | 2.13% | 2.48% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | PKG | PPG |
|---|---|---|
| 2022 | -2.6% | -25.7% |
| 2023 | +31.9% | +21.2% |
| 2024 | +41.7% | -18.5% |
| 2025 | -6.1% | -12.0% |
| 2026 | +19.6% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PKG and PPG good diversifiers for each other?
To a limited degree. At 0.58 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 PKG and PPG?
As of 2026-08-27, the correlation of weekly returns between PKG and PPG is 0.58 over 3 years, 0.63 over 1 year and 0.55 over 5 years.
Is PPG a good diversifier for PKG?
To a limited degree. At 0.58 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 0.58 mean?
On the −1 to +1 scale, 0.58 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/pkg-vs-ppg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pkg-vs-ppg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PKG correlations · PPG correlations
