PKG vs USB: Correlation
Measured on weekly returns over the past three years, Packaging Corporation of America (PKG) and U.S. Bancorp (USB) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PKG and USB?
On 3 years of weekly data the PKG/USB correlation comes out at 0.54, moderate. The link has loosened recently: the 1-year correlation (0.39) runs below the 3-year figure (0.54). The 5-year figure is 0.51, and annualized covariance runs at 349.9 %².
Among the 32 assets we track against PKG, USB ranks #14 by 3-year correlation. On 12-month performance USB holds a 14.6-point edge, +18.5% against +33.1%. The rolling one-year correlation moved between 0.43 and 0.72 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.
PKG vs USB: side by side
| PKG (Packaging Corporation of America) | USB (U.S. Bancorp) | |
|---|---|---|
| 1-year return | +18.5% | +33.1% |
| 5-year return | +86.8% | +36.0% |
| Volatility (ann.) | 23.5% | 27.3% |
| Beta vs S&P 500 | 0.52 | 1.09 |
| Max drawdown (3Y) | -28.4% | -30.6% |
| Market cap | $21.7B | $97.2B |
| P/E (trailing) | 31.6 | 12.5 |
| Dividend yield | 2.13% | 3.31% |
| Sector / category | Materials | Financials |
Year-by-year returns
| Year | PKG | USB |
|---|---|---|
| 2022 | -2.6% | -19.1% |
| 2023 | +31.9% | +4.8% |
| 2024 | +41.7% | +15.6% |
| 2025 | -6.1% | +16.5% |
| 2026 | +19.6% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PKG and USB good diversifiers for each other?
Only partially. A correlation of 0.54 means PKG and USB 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 USB?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.39 over the last year and 0.51 over 5 years.
Is USB a good diversifier for PKG?
Only partially. A correlation of 0.54 means PKG and USB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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-usb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pkg-vs-usb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PKG correlations · USB correlations
