PPG vs UPS: Correlation
PPG Industries (PPG) and United Parcel Service (UPS) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PPG and UPS?
On 3 years of weekly data the PPG/UPS correlation comes out at 0.57, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.57 over 3. The 5-year figure is 0.56, and annualized covariance runs at 425.7 %².
By 3-year correlation, UPS places #30 of the 67 assets tracked against PPG. The last year tells two different stories: UPS led by 24.4 percentage points, +3.8% for PPG against +28.2% for UPS. Across three years, the rolling one-year figure varied moderately, from 0.33 to 0.69.
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 UPS: side by side
| PPG (PPG Industries) | UPS (United Parcel Service) | |
|---|---|---|
| 1-year return | +3.8% | +28.2% |
| 5-year return | -22.0% | -31.0% |
| Volatility (ann.) | 25.5% | 29.4% |
| Beta vs S&P 500 | 0.90 | 0.81 |
| Max drawdown (3Y) | -37.4% | -46.5% |
| Market cap | $25.2B | $89.9B |
| P/E (trailing) | 16.4 | 19.6 |
| Dividend yield | 2.48% | 6.21% |
| Sector / category | Materials | Industrials |
Year-by-year returns
| Year | PPG | UPS |
|---|---|---|
| 2022 | -25.7% | -16.2% |
| 2023 | +21.2% | -6.0% |
| 2024 | -18.5% | -15.9% |
| 2025 | -12.0% | -15.9% |
| 2026 | +12.8% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PPG and UPS good diversifiers for each other?
To a limited degree. At 0.57 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 PPG and UPS?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.51 over the last year and 0.56 over 5 years.
Is UPS a good diversifier for PPG?
To a limited degree. At 0.57 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 0.57 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/ppg-vs-ups.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PPG correlations · UPS correlations
