PPG vs TKC: Correlation
How closely do PPG Industries (PPG) and Turkcell Iletisim Hizmetleri AS (TKC) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PPG and TKC?
On 3 years of weekly data the PPG/TKC correlation comes out at 0.31, moderate. The past 12 months show a tighter link (0.44) than the 3-year average (0.31). The 5-year figure is 0.23, and annualized covariance runs at 261.9 %².
Among the 67 assets we track against PPG, TKC ranks #57 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PPG outperformed by 16.4 percentage points (+3.8% for PPG against -12.6% for TKC).
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.
PPG vs TKC: side by side
| PPG (PPG Industries) | TKC (Turkcell Iletisim Hizmetleri AS) | |
|---|---|---|
| 1-year return | +3.8% | -12.6% |
| 5-year return | -22.0% | +30.6% |
| Volatility (ann.) | 25.5% | 32.9% |
| Beta vs S&P 500 | 0.90 | 0.45 |
| Max drawdown (3Y) | -37.4% | -28.5% |
| Market cap | $25.2B | $4.7B |
| P/E (trailing) | 16.4 | 12.6 |
| Dividend yield | 2.48% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | PPG | TKC |
|---|---|---|
| 2022 | -25.7% | +38.2% |
| 2023 | +21.2% | +2.5% |
| 2024 | -18.5% | +44.5% |
| 2025 | -12.0% | -14.3% |
| 2026 | +12.8% | -1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PPG and TKC good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PPG and TKC?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.44 over the last year and 0.23 over 5 years.
Is TKC a good diversifier for PPG?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
A reading of 0.31 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/ppg-vs-tkc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ppg-vs-tkc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PPG correlations · TKC correlations
