PPG vs WHR: Correlation
How closely do PPG Industries (PPG) and Whirlpool Corporation (WHR) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PPG and WHR?
Over the past 3 years, PPG and WHR moved with a correlation of 0.54, which is moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.54 over 3. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 622.7 %².
By 3-year correlation, WHR places #36 of the 67 assets tracked against PPG. The last year tells two different stories: PPG led by 60.3 percentage points, +3.8% for PPG against -56.5% for WHR. Risk is not evenly split, since WHR carries 1.8 times the volatility of the other side.
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 WHR: side by side
| PPG (PPG Industries) | WHR (Whirlpool Corporation) | |
|---|---|---|
| 1-year return | +3.8% | -56.5% |
| 5-year return | -22.0% | -77.3% |
| Volatility (ann.) | 25.5% | 45.6% |
| Beta vs S&P 500 | 0.90 | 1.09 |
| Max drawdown (3Y) | -37.4% | -71.1% |
| Market cap | $25.2B | $2.6B |
| P/E (trailing) | 16.4 | 13.1 |
| Dividend yield | 2.48% | 6.73% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | PPG | WHR |
|---|---|---|
| 2022 | -25.7% | -37.2% |
| 2023 | +21.2% | -9.1% |
| 2024 | -18.5% | +0.6% |
| 2025 | -12.0% | -33.0% |
| 2026 | +12.8% | -44.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PPG and WHR good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PPG and WHR?
As of 2026-08-27, the correlation of weekly returns between PPG and WHR is 0.54 over 3 years, 0.53 over 1 year and 0.55 over 5 years.
Is WHR a good diversifier for PPG?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: PPG correlations · WHR correlations
