SHW vs SITE: Correlation
How closely do Sherwin-Williams (SHW) and SiteOne Landscape Supply, Inc. (SITE) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SHW and SITE?
On 3 years of weekly data the SHW/SITE correlation comes out at 0.65, strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 593.1 %².
Within SHW's tracked universe of 60 assets, SITE comes in at #17 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SHW outperformed by 29.1 percentage points (-5.1% for SHW against -34.2% for SITE). Note the risk asymmetry: SITE runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
SHW vs SITE: side by side
| SHW (Sherwin-Williams) | SITE (SiteOne Landscape Supply, Inc.) | |
|---|---|---|
| 1-year return | -5.1% | -34.2% |
| 5-year return | +18.3% | -52.8% |
| Volatility (ann.) | 24.6% | 37.2% |
| Beta vs S&P 500 | 0.79 | 1.06 |
| Max drawdown (3Y) | -25.7% | -49.5% |
| Market cap | $83.8B | $4.2B |
| P/E (trailing) | 31.8 | 26.3 |
| Dividend yield | 0.91% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | SHW | SITE |
|---|---|---|
| 2022 | -32.0% | -51.6% |
| 2023 | +32.7% | +38.5% |
| 2024 | +9.9% | -18.9% |
| 2025 | -3.8% | -5.5% |
| 2026 | +7.3% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SHW and SITE good diversifiers for each other?
To a limited degree. At 0.65 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 SHW and SITE?
The SHW/SITE correlation stands at 0.65 on a 3-year window (1 year: 0.67, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is SITE a good diversifier for SHW?
To a limited degree. At 0.65 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 0.65 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/shw-vs-site.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/shw-vs-site/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SHW correlations · SITE correlations
