AWR vs. PPG

Last updated Jun 9, 2026

AWR (American States Water Company) and PPG (PPG Industries, Inc.) are both stocks. AWR operates in Utilities - Regulated Water (Utilities), while PPG operates in Specialty Chemicals (Basic Materials). Over the past 10 years, AWR returned 8.51%/yr vs 2.22%/yr for PPG. At a 0.26 correlation, their price movements are largely independent.

Performance

AWR vs. PPG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American States Water Company (AWR) and PPG Industries, Inc. (PPG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AWR achieves a 7.54% return, which is significantly lower than PPG's 11.53% return. Over the past 10 years, AWR has outperformed PPG with an annualized return of 8.51%, while PPG has yielded a comparatively lower 2.22% annualized return.

AWR

• 1D: -1.89%
• 1M: 0.27%
• YTD: 7.54%
• 6M: 8.56%
• 1Y: 3.04%
• 3Y*: -3.03%
• 5Y*: 1.21%
• 10Y*: 8.51%

PPG

• 1D: -0.81%
• 1M: 3.65%
• YTD: 11.53%
• 6M: 13.85%
• 1Y: 2.92%
• 3Y*: -4.70%
• 5Y*: -6.70%
• 10Y*: 2.22%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AWR vs. PPG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AWR American States Water Company	7.54%	-4.32%	-1.18%	-11.43%	-8.92%	32.25%	-6.75%	31.19%	17.91%	29.76%
PPG PPG Industries, Inc.	11.53%	-11.96%	-18.46%	21.19%	-25.71%	21.28%	10.08%	32.81%	-11.00%	25.24%

Correlation

The correlation between AWR and PPG is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990	0.26

The correlation between AWR and PPG shifts across timeframes, from 0.17 (1 year) to 0.31 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap AWR : $3.01B PPG : $25.33B
EPS AWR : $3.44 PPG : $7.01
PE Ratio AWR : 22.34 PPG : 16.09
PEG Ratio AWR : 2.10 PPG : 2.14
PS Ratio AWR : 4.39 PPG : 1.58
Total Revenue (TTM) AWR : $679.25M PPG : $16.12B
Gross Profit (TTM) AWR : $303.17M PPG : $4.88B
EBITDA (TTM) AWR : $233.31M PPG : $2.52B

Return for Risk

AWR vs. PPG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AWR

AWR Risk / Return Rank: 44
AWR Sharpe Ratio Rank: 47
AWR Sortino Ratio Rank: 39
AWR Omega Ratio Rank: 39
AWR Calmar Ratio Rank: 48
AWR Martin Ratio Rank: 48

PPG

PPG Risk / Return Rank: 43
PPG Sharpe Ratio Rank: 46
PPG Sortino Ratio Rank: 39
PPG Omega Ratio Rank: 39
PPG Calmar Ratio Rank: 45
PPG Martin Ratio Rank: 45

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AWR vs. PPG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American States Water Company (AWR) and PPG Industries, Inc. (PPG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AWR	PPG	Difference
Sharpe ratio: Return per unit of total volatility	0.15	0.10	+0.05
Sortino ratio: Return per unit of downside risk	0.36	0.35	0.00
Omega ratio: Gain probability vs. loss probability	1.04	1.04	0.00
Calmar ratio: Return relative to maximum drawdown	0.26	0.11	+0.15
Martin ratio: Return relative to average drawdown	0.47	0.23	+0.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AWR vs. PPG - Sharpe Ratio Comparison

The current AWR Sharpe Ratio is 0.15, which is higher than the PPG Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of AWR and PPG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AWR	PPG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.15	0.10	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	-0.24	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.08	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.39	+0.01

Drawdowns

AWR vs. PPG - Drawdown Comparison

The maximum AWR drawdown since its inception was -37.39%, smaller than the maximum PPG drawdown of -63.02%. Use the drawdown chart below to compare losses from any high point for AWR and PPG.

Drawdown Indicators

	AWR	PPG	Difference
Max Drawdown Largest peak-to-trough decline	-37.39%	-63.02%	+25.63%
Max Drawdown (1Y) Largest decline over 1 year	-11.55%	-25.68%	+14.13%
Max Drawdown (3Y) Largest decline over 3 years	-25.36%	-37.41%	+12.05%
Max Drawdown (5Y) Largest decline over 5 years	-32.85%	-44.56%	+11.71%
Max Drawdown (10Y) Largest decline over 10 years	-32.85%	-46.02%	+13.17%
Current Drawdown Current decline from peak	-17.98%	-31.33%	+13.35%
Average Drawdown Average peak-to-trough decline	-10.81%	-13.26%	+2.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.41%	12.72%	-6.31%

Volatility

AWR vs. PPG - Volatility Comparison

The current volatility for American States Water Company (AWR) is 4.82%, while PPG Industries, Inc. (PPG) has a volatility of 7.40%. This indicates that AWR experiences smaller price fluctuations and is considered to be less risky than PPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AWR	PPG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.82%	7.40%	-2.58%
Volatility (6M) Calculated over the trailing 6-month period	15.05%	22.86%	-7.81%
Volatility (1Y) Calculated over the trailing 1-year period	20.12%	28.93%	-8.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.65%	27.56%	-4.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.16%	27.45%	-1.29%

Dividends

AWR vs. PPG - Dividend Comparison

AWR's dividend yield for the trailing twelve months is around 2.62%, more than PPG's 2.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AWR American States Water Company	2.62%	2.68%	2.30%	2.06%	1.65%	1.35%	1.61%	1.34%	1.58%	1.72%	2.01%	2.08%
PPG PPG Industries, Inc.	2.52%	2.71%	2.23%	1.70%	1.92%	1.31%	1.46%	1.48%	1.82%	1.46%	1.65%	1.43%

Financials

AWR vs. PPG - Profitability Comparison

The chart below illustrates the profitability comparison between American States Water Company and PPG Industries, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AWR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, American States Water Company reported a gross profit of 0.00 and revenue of 169.19M. Therefore, the gross margin over that period was 0.0%.

PPG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, PPG Industries, Inc. reported a gross profit of 0.00 and revenue of 3.93B. Therefore, the gross margin over that period was 0.0%.

AWR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, American States Water Company reported an operating income of 51.37M and revenue of 169.19M, resulting in an operating margin of 30.4%.

PPG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, PPG Industries, Inc. reported an operating income of 385.00M and revenue of 3.93B, resulting in an operating margin of 9.8%.

AWR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, American States Water Company reported a net income of 29.95M and revenue of 169.19M, resulting in a net margin of 17.7%.

PPG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, PPG Industries, Inc. reported a net income of 382.00M and revenue of 3.93B, resulting in a net margin of 9.7%.

Frequently Asked Questions

Can I hold both AWR and PPG in my portfolio?

AWR and PPG have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AWR or PPG?

PPG has higher volatility (7.40%) compared to AWR (4.82%). In terms of maximum drawdown, AWR dropped -37.39% vs PPG's -63.02%.

Which has better risk-adjusted returns?

AWR currently has the higher Sharpe Ratio (0.15 vs 0.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.