PKG vs SCHD: Correlation
Measured on weekly returns over the past three years, Packaging Corporation of America (PKG) and Schwab US Dividend Equity ETF (SCHD) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PKG and SCHD?
Over the past 3 years, PKG and SCHD moved with a correlation of 0.56, which is moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.56 over 3. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 169.9 %².
Within PKG's tracked universe of 32 assets, SCHD comes in at #9 by 3-year correlation. On 12-month performance SCHD holds a 11.1-point edge, +18.5% against +29.6%. Across three years, the rolling one-year figure varied moderately, from 0.38 to 0.71. One caveat on sizing: PKG is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SCHD: side by side
| PKG (Packaging Corporation of America) | SCHD (Schwab US Dividend Equity ETF) | |
|---|---|---|
| 1-year return | +18.5% | +29.6% |
| 5-year return | +86.8% | +60.9% |
| Volatility (ann.) | 23.5% | 12.9% |
| Beta vs S&P 500 | 0.52 | 0.52 |
| Max drawdown (3Y) | -28.4% | -16.1% |
| Market cap | $21.7B | – |
| P/E (trailing) | 31.6 | – |
| Dividend yield | 2.13% | 3.13% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $104.2B |
| Sector / category | Materials | ETF · Dividend |
SCHD, Schwab ETFs's Large Value fund, carries $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | PKG | SCHD |
|---|---|---|
| 2022 | -2.6% | -3.3% |
| 2023 | +31.9% | +4.5% |
| 2024 | +41.7% | +11.7% |
| 2025 | -6.1% | +4.3% |
| 2026 | +19.6% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PKG and SCHD good diversifiers for each other?
Only partially. A correlation of 0.56 means PKG and SCHD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between PKG and SCHD?
The PKG/SCHD correlation stands at 0.56 on a 3-year window (1 year: 0.50, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is SCHD a good diversifier for PKG?
Only partially. A correlation of 0.56 means PKG and SCHD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
A reading of 0.56 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pkg-vs-schd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pkg-vs-schd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PKG correlations · SCHD correlations
