SHW vs UFPI: Correlation
How closely do Sherwin-Williams (SHW) and UFP Industries, Inc. (UFPI) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SHW and UFPI?
Over the past 3 years, SHW and UFPI moved with a correlation of 0.68, which is strong. Recent behaviour matches the longer record: 0.73 over 1 year against 0.68 over 3. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 490.6 %².
By 3-year correlation, UFPI places #10 of the 60 assets tracked against SHW. Over the last 12 months SHW came out ahead by 11.0 percentage points (-5.1% against -16.1%).
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 UFPI: side by side
| SHW (Sherwin-Williams) | UFPI (UFP Industries, Inc.) | |
|---|---|---|
| 1-year return | -5.1% | -16.1% |
| 5-year return | +18.3% | +16.0% |
| Volatility (ann.) | 24.6% | 29.4% |
| Beta vs S&P 500 | 0.79 | 0.82 |
| Max drawdown (3Y) | -25.7% | -41.9% |
| Market cap | $83.8B | $4.7B |
| P/E (trailing) | 31.8 | 19.7 |
| Dividend yield | 0.91% | 1.64% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | SHW | UFPI |
|---|---|---|
| 2022 | -32.0% | -12.9% |
| 2023 | +32.7% | +60.3% |
| 2024 | +9.9% | -9.3% |
| 2025 | -3.8% | -18.0% |
| 2026 | +7.3% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SHW and UFPI good diversifiers for each other?
Only partially. A correlation of 0.68 means SHW and UFPI 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 SHW and UFPI?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.73 over the last year and 0.61 over 5 years.
Is UFPI a good diversifier for SHW?
Only partially. A correlation of 0.68 means SHW and UFPI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 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-ufpi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/shw-vs-ufpi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SHW correlations · UFPI correlations
