PNR vs SHW: Correlation
Measured on weekly returns over the past three years, Pentair (PNR) and Sherwin-Williams (SHW) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNR and SHW?
Across a 3-year window, the weekly returns of PNR and SHW correlate at 0.59, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.47 versus 0.59 over 3 years. Stretching to 5 years gives 0.60, with an annualized covariance of 412.4 %².
Among the 38 assets we track against PNR, SHW ranks #10 by 3-year correlation. The last year tells two different stories: SHW led by 37.4 percentage points, -42.5% for PNR against -5.1% for SHW. Across three years, the rolling one-year figure varied moderately, from 0.34 to 0.80.
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.
PNR vs SHW: side by side
| PNR (Pentair) | SHW (Sherwin-Williams) | |
|---|---|---|
| 1-year return | -42.5% | -5.1% |
| 5-year return | -14.1% | +18.3% |
| Volatility (ann.) | 28.2% | 24.6% |
| Beta vs S&P 500 | 1.07 | 0.79 |
| Max drawdown (3Y) | -45.0% | -25.7% |
| Market cap | $9.9B | $83.8B |
| P/E (trailing) | 16.2 | 31.8 |
| Dividend yield | 1.65% | 0.91% |
| Sector / category | Industrials | Materials |
Year-by-year returns
| Year | PNR | SHW |
|---|---|---|
| 2022 | -37.4% | -32.0% |
| 2023 | +64.2% | +32.7% |
| 2024 | +40.0% | +9.9% |
| 2025 | +4.5% | -3.8% |
| 2026 | -39.8% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNR and SHW good diversifiers for each other?
Only partially. A correlation of 0.59 means PNR and SHW 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 PNR and SHW?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.47 over the last year and 0.60 over 5 years.
Is SHW a good diversifier for PNR?
Only partially. A correlation of 0.59 means PNR and SHW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 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/pnr-vs-shw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pnr-vs-shw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PNR correlations · SHW correlations
