British American Tobacco Industries p.l.c. Common Stock ADR vs Philip Morris International Inc
WatchlistBTI / PMPrices through Oct 22, 2026
Why these are rivals: #1 and #2 by market value ($313B vs $126B) in Nasdaq's " Medicinal Chemicals and Botanical Products " industry; SEC SIC 2111 / 2111 (same major group); #1 and #2 by market value ($313B vs $126B) with SEC SIC 2111 (Cigarettes).
Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.
- Mean reversion: ADF t-statistic of the spread: -1.04 (needs <= -2.873 (5% critical value))
Business leadership
Business size
Annual revenue reported to the SEC. Scale, not market share.
| Year | BTI | PM | Larger |
|---|---|---|---|
| 2025 | - | $40.6B | - |
| 2024 | - | $37.9B | - |
| 2023 | - | $35.2B | - |
| 2022 | - | $31.8B | - |
| 2021 | - | $31.4B | - |
| 2020 | - | $28.7B | - |
Market value: BTI $126.4B, PM $313.4B.
Stock leadership
PM is ahead now
Measured against the pair's own last 252 trading days.
PM leads BTI by 1.32 standard deviations: +11.2% over its usual price ratio. 1 lead switch in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| BTI | -0.8% | +5.6% | +20.0% |
| PM | +4.5% | +19.2% | +32.7% |
Relationship
Not a measured twin today
Only these tests can make a pair tradable on paper.
- Pass
- Aligned sessions: 2521 (needs >= 254)
- Pass
- Co-movement: daily return correlation, 252 sessions: 0.63 (needs >= 0.60)
- Fail
- Mean reversion: ADF t-statistic of the spread: -1.04 (needs <= -2.873 (5% critical value))
- Pass
- Speed: half-life of the spread, sessions: 53.27 (needs <= 63)
- Data
- Both stocks current
The twins over two years
Prices side by side, and the gap between them
BTI British American Tobacco Industries p.l.c. Common Stock ADR PM Philip Morris International IncPrice index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).
Spread z-score: BTI relative to PM, against the 252 sessions before each day. Above 0: BTI ahead; below 0: PM ahead. Lines at +/-2 (idea) and +/-4 (stop).
Data table (504 sessions)
| Date | BTI index | PM index | z | Ahead |
|---|---|---|---|---|
| 2026-10-22 | 175.28 | 167.82 | -1.32 | PM ahead |
| 2026-10-21 | 170.72 | 164.26 | -1.39 | PM ahead |
| 2026-10-20 | 171.33 | 166.29 | -1.51 | PM ahead |
| 2026-10-19 | 169.59 | 167.25 | -1.73 | PM ahead |
| 2026-10-16 | 173.91 | 170.70 | -1.68 | PM ahead |
| 2026-10-15 | 168.12 | 166.29 | -1.80 | PM ahead |
| 2026-10-14 | 164.23 | 171.02 | -2.49 | PM ahead |
| 2026-10-13 | 161.30 | 165.78 | -2.35 | PM ahead |
| 2026-10-12 | 161.22 | 168.04 | -2.58 | PM ahead |
| 2026-10-09 | 160.87 | 167.37 | -2.60 | PM ahead |
| 2026-10-08 | 160.67 | 166.79 | -2.61 | PM ahead |
| 2026-10-07 | 156.23 | 160.29 | -2.49 | PM ahead |
| 2026-10-06 | 153.65 | 158.39 | -2.60 | PM ahead |
| 2026-10-05 | 153.28 | 157.67 | -2.62 | PM ahead |
| 2026-10-02 | 152.58 | 155.94 | -2.57 | PM ahead |
| 2026-10-01 | 154.17 | 156.54 | -2.51 | PM ahead |
| 2026-09-30 | 157.68 | 158.74 | -2.42 | PM ahead |
| 2026-09-29 | 158.99 | 161.30 | -2.57 | PM ahead |
| 2026-09-28 | 162.46 | 161.18 | -2.27 | PM ahead |
| 2026-09-25 | 161.25 | 158.46 | -2.15 | PM ahead |
| 2026-09-24 | 162.38 | 159.30 | -2.15 | PM ahead |
| 2026-09-23 | 161.88 | 158.76 | -2.17 | PM ahead |
| 2026-09-22 | 161.59 | 158.25 | -2.18 | PM ahead |
| 2026-09-21 | 161.59 | 155.96 | -1.97 | PM ahead |
| 2026-09-18 | 161.83 | 156.91 | -2.07 | PM ahead |
| 2026-09-17 | 162.38 | 158.46 | -2.20 | PM ahead |
| 2026-09-16 | 162.58 | 159.48 | -2.32 | PM ahead |
| 2026-09-15 | 163.83 | 161.48 | -2.43 | PM ahead |
| 2026-09-14 | 166.06 | 162.10 | -2.31 | PM ahead |
| 2026-09-11 | 160.12 | 158.94 | -2.63 | PM ahead |
| 2026-09-10 | 159.01 | 157.87 | -2.68 | PM ahead |
| 2026-09-09 | 157.48 | 154.49 | -2.52 | PM ahead |
| 2026-09-08 | 159.86 | 153.67 | -2.21 | PM ahead |
| 2026-09-04 | 160.43 | 151.84 | -1.96 | PM ahead |
| 2026-09-03 | 162.23 | 154.87 | -2.14 | PM ahead |
| 2026-09-02 | 161.39 | 156.34 | -2.43 | PM ahead |
| 2026-09-01 | 162.09 | 155.69 | -2.31 | PM ahead |
| 2026-08-31 | 161.07 | 155.81 | -2.48 | PM ahead |
| 2026-08-28 | 162.70 | 159.63 | -2.79 | PM ahead |
| 2026-08-27 | 163.13 | 158.46 | -2.65 | PM ahead |
| 2026-08-26 | 166.49 | 161.47 | -2.67 | PM ahead |
| 2026-08-25 | 163.68 | 161.32 | -3.04 | PM ahead |
| 2026-08-24 | 164.38 | 159.27 | -2.76 | PM ahead |
| 2026-08-21 | 162.93 | 156.58 | -2.65 | PM ahead |
| 2026-08-20 | 164.35 | 159.32 | -2.88 | PM ahead |
| 2026-08-19 | 162.26 | 158.00 | -3.03 | PM ahead |
| 2026-08-18 | 163.42 | 156.08 | -2.69 | PM ahead |
| 2026-08-17 | 161.54 | 153.50 | -2.63 | PM ahead |
| 2026-08-14 | 165.39 | 158.38 | -2.85 | PM ahead |
| 2026-08-13 | 166.23 | 157.15 | -2.62 | PM ahead |
| 2026-08-12 | 161.86 | 154.89 | -2.94 | PM ahead |
| 2026-08-11 | 164.67 | 154.91 | -2.61 | PM ahead |
| 2026-08-10 | 165.36 | 154.73 | -2.53 | PM ahead |
| 2026-08-07 | 171.97 | 157.70 | -2.10 | PM ahead |
| 2026-08-06 | 170.23 | 156.43 | -2.17 | PM ahead |
| 2026-08-05 | 171.80 | 157.17 | -2.09 | PM ahead |
| 2026-08-04 | 171.36 | 155.49 | -1.92 | PM ahead |
| 2026-08-03 | 172.64 | 155.90 | -1.82 | PM ahead |
| 2026-07-31 | 175.80 | 158.74 | -1.83 | PM ahead |
| 2026-07-30 | 178.81 | 159.72 | -1.58 | PM ahead |
| 2026-07-29 | 182.81 | 165.08 | -1.84 | PM ahead |
| 2026-07-28 | 180.58 | 166.52 | -2.36 | PM ahead |
| 2026-07-27 | 176.29 | 162.77 | -2.41 | PM ahead |
| 2026-07-24 | 176.70 | 160.55 | -2.03 | PM ahead |
| 2026-07-23 | 173.45 | 158.99 | -2.25 | PM ahead |
| 2026-07-22 | 179.88 | 161.63 | -1.71 | PM ahead |
| 2026-07-21 | 178.03 | 156.43 | -1.14 | PM ahead |
| 2026-07-20 | 181.13 | 160.32 | -1.26 | PM ahead |
| 2026-07-17 | 182.14 | 160.54 | -1.12 | PM ahead |
| 2026-07-16 | 183.07 | 157.92 | -0.63 | PM ahead |
| 2026-07-15 | 170.23 | 150.47 | -1.09 | PM ahead |
| 2026-07-14 | 168.70 | 146.37 | -0.69 | PM ahead |
| 2026-07-13 | 170.87 | 149.90 | -0.87 | PM ahead |
| 2026-07-10 | 173.97 | 151.09 | -0.64 | PM ahead |
| 2026-07-09 | 176.43 | 150.71 | -0.30 | near the usual relationship |
| 2026-07-08 | 177.94 | 155.62 | -0.69 | PM ahead |
| 2026-07-07 | 179.13 | 156.22 | -0.61 | PM ahead |
| 2026-07-06 | 178.14 | 153.70 | -0.40 | near the usual relationship |
| 2026-07-02 | 179.04 | 151.63 | -0.08 | near the usual relationship |
| 2026-07-01 | 175.54 | 147.82 | +0.03 | near the usual relationship |
| 2026-06-30 | 179.01 | 150.49 | +0.07 | near the usual relationship |
| 2026-06-29 | 181.86 | 152.13 | +0.15 | near the usual relationship |
| 2026-06-26 | 181.91 | 150.38 | +0.33 | near the usual relationship |
| 2026-06-25 | 181.10 | 148.85 | +0.41 | near the usual relationship |
| 2026-06-24 | 177.94 | 148.72 | +0.19 | near the usual relationship |
| 2026-06-23 | 176.06 | 148.65 | +0.07 | near the usual relationship |
| 2026-06-22 | 170.72 | 144.06 | +0.09 | near the usual relationship |
| 2026-06-18 | 170.75 | 148.41 | -0.28 | near the usual relationship |
| 2026-06-17 | 172.43 | 149.27 | -0.21 | near the usual relationship |
| 2026-06-16 | 177.91 | 153.12 | -0.12 | near the usual relationship |
| 2026-06-15 | 176.99 | 151.24 | -0.03 | near the usual relationship |
| 2026-06-12 | 180.64 | 153.32 | +0.07 | near the usual relationship |
| 2026-06-11 | 177.94 | 150.38 | +0.13 | near the usual relationship |
| 2026-06-10 | 177.16 | 152.19 | -0.05 | near the usual relationship |
| 2026-06-09 | 173.77 | 148.48 | +0.02 | near the usual relationship |
| 2026-06-08 | 173.01 | 146.46 | +0.13 | near the usual relationship |
| 2026-06-05 | 173.10 | 148.32 | +0.01 | near the usual relationship |
| 2026-06-04 | 167.68 | 145.57 | -0.12 | near the usual relationship |
| 2026-06-03 | 169.91 | 146.36 | -0.02 | near the usual relationship |
| 2026-06-02 | 175.25 | 144.46 | +0.45 | near the usual relationship |
| 2026-06-01 | 176.81 | 143.63 | +0.60 | BTI ahead |
| 2026-05-29 | 179.10 | 147.56 | +0.47 | near the usual relationship |
| 2026-05-28 | 182.38 | 148.55 | +0.59 | BTI ahead |
| 2026-05-27 | 185.62 | 151.43 | +0.57 | BTI ahead |
| 2026-05-26 | 188.23 | 151.01 | +0.74 | BTI ahead |
| 2026-05-22 | 189.45 | 157.22 | +0.42 | near the usual relationship |
| 2026-05-21 | 190.52 | 156.78 | +0.51 | BTI ahead |
| 2026-05-20 | 189.28 | 156.92 | +0.45 | near the usual relationship |
| 2026-05-19 | 191.48 | 159.36 | +0.42 | near the usual relationship |
| 2026-05-18 | 192.32 | 159.30 | +0.47 | near the usual relationship |
| 2026-05-15 | 188.67 | 157.73 | +0.39 | near the usual relationship |
| 2026-05-14 | 193.33 | 159.60 | +0.51 | BTI ahead |
| 2026-05-13 | 189.42 | 156.32 | +0.52 | BTI ahead |
| 2026-05-12 | 184.46 | 155.50 | +0.34 | near the usual relationship |
| 2026-05-11 | 175.19 | 151.49 | +0.13 | near the usual relationship |
| 2026-05-08 | 168.93 | 142.24 | +0.36 | near the usual relationship |
| 2026-05-07 | 168.35 | 142.34 | +0.33 | near the usual relationship |
| 2026-05-06 | 172.64 | 141.86 | +0.58 | BTI ahead |
| 2026-05-05 | 172.17 | 140.97 | +0.61 | BTI ahead |
| 2026-05-04 | 169.13 | 140.75 | +0.49 | near the usual relationship |
| 2026-05-01 | 170.17 | 138.41 | +0.68 | BTI ahead |
| 2026-04-30 | 170.43 | 137.32 | +0.76 | BTI ahead |
| 2026-04-29 | 166.52 | 135.35 | +0.70 | BTI ahead |
| 2026-04-28 | 169.48 | 138.00 | +0.69 | BTI ahead |
| 2026-04-27 | 166.14 | 133.85 | +0.78 | BTI ahead |
| 2026-04-24 | 168.38 | 136.59 | +0.73 | BTI ahead |
| 2026-04-23 | 166.03 | 140.75 | +0.39 | near the usual relationship |
| 2026-04-22 | 162.81 | 136.39 | +0.49 | near the usual relationship |
| 2026-04-21 | 158.93 | 127.49 | +0.83 | BTI ahead |
| 2026-04-20 | 165.39 | 131.06 | +0.93 | BTI ahead |
| 2026-04-17 | 164.29 | 131.26 | +0.88 | BTI ahead |
| 2026-04-16 | 162.72 | 129.97 | +0.89 | BTI ahead |
| 2026-04-15 | 164.29 | 130.76 | +0.92 | BTI ahead |
| 2026-04-14 | 166.70 | 132.66 | +0.93 | BTI ahead |
| 2026-04-13 | 170.12 | 135.39 | +0.94 | BTI ahead |
| 2026-04-10 | 170.46 | 133.47 | +1.07 | BTI ahead |
| 2026-04-09 | 170.58 | 134.14 | +1.04 | BTI ahead |
| 2026-04-08 | 173.77 | 133.88 | +1.21 | BTI ahead |
| 2026-04-07 | 170.43 | 131.01 | +1.23 | BTI ahead |
| 2026-04-06 | 170.17 | 133.38 | +1.09 | BTI ahead |
| 2026-04-02 | 168.93 | 131.52 | +1.15 | BTI ahead |
| 2026-04-01 | 167.80 | 130.88 | +1.15 | BTI ahead |
| 2026-03-31 | 169.48 | 137.54 | +0.85 | BTI ahead |
| 2026-03-30 | 168.87 | 137.12 | +0.86 | BTI ahead |
| 2026-03-27 | 167.54 | 136.05 | +0.86 | BTI ahead |
| 2026-03-26 | 168.87 | 135.17 | +0.98 | BTI ahead |
| 2026-03-25 | 169.42 | 137.68 | +0.87 | BTI ahead |
| 2026-03-24 | 167.42 | 136.32 | +0.87 | BTI ahead |
| 2026-03-23 | 167.88 | 135.80 | +0.92 | BTI ahead |
| 2026-03-20 | 166.29 | 135.69 | +0.86 | BTI ahead |
| 2026-03-19 | 170.20 | 135.90 | +1.03 | BTI ahead |
| 2026-03-18 | 168.38 | 138.21 | +0.84 | BTI ahead |
| 2026-03-17 | 175.51 | 143.77 | +0.86 | BTI ahead |
| 2026-03-16 | 176.64 | 145.40 | +0.83 | BTI ahead |
| 2026-03-13 | 173.71 | 145.30 | +0.72 | BTI ahead |
| 2026-03-12 | 173.59 | 143.08 | +0.83 | BTI ahead |
| 2026-03-11 | 171.48 | 138.79 | +0.97 | BTI ahead |
| 2026-03-10 | 172.20 | 143.81 | +0.75 | BTI ahead |
| 2026-03-09 | 169.07 | 144.12 | +0.60 | BTI ahead |
| 2026-03-06 | 167.74 | 141.40 | +0.69 | BTI ahead |
| 2026-03-05 | 169.83 | 141.17 | +0.80 | BTI ahead |
| 2026-03-04 | 176.84 | 148.94 | +0.71 | BTI ahead |
| 2026-03-03 | 175.10 | 148.02 | +0.69 | BTI ahead |
| 2026-03-02 | 180.06 | 152.92 | +0.66 | BTI ahead |
| 2026-02-27 | 181.59 | 155.42 | +0.61 | BTI ahead |
| 2026-02-26 | 181.65 | 155.98 | +0.59 | BTI ahead |
| 2026-02-25 | 182.70 | 157.89 | +0.55 | BTI ahead |
| 2026-02-24 | 179.45 | 155.56 | +0.54 | BTI ahead |
| 2026-02-23 | 180.00 | 155.74 | +0.56 | BTI ahead |
| 2026-02-20 | 179.94 | 152.57 | +0.71 | BTI ahead |
| 2026-02-19 | 176.78 | 152.65 | +0.58 | BTI ahead |
| 2026-02-18 | 170.64 | 151.96 | +0.37 | near the usual relationship |
| 2026-02-17 | 170.75 | 152.77 | +0.34 | near the usual relationship |
| 2026-02-13 | 172.46 | 155.99 | +0.27 | near the usual relationship |
| 2026-02-12 | 175.68 | 157.18 | +0.35 | near the usual relationship |
| 2026-02-11 | 174.87 | 154.95 | +0.42 | near the usual relationship |
| 2026-02-10 | 174.46 | 151.98 | +0.54 | BTI ahead |
| 2026-02-09 | 177.25 | 151.26 | +0.69 | BTI ahead |
| 2026-02-06 | 182.03 | 152.08 | +0.85 | BTI ahead |
| 2026-02-05 | 179.59 | 151.40 | +0.79 | BTI ahead |
| 2026-02-04 | 178.64 | 150.06 | +0.82 | BTI ahead |
| 2026-02-03 | 179.33 | 147.24 | +0.98 | BTI ahead |
| 2026-02-02 | 176.78 | 149.69 | +0.77 | BTI ahead |
| 2026-01-30 | 175.88 | 149.27 | +0.76 | BTI ahead |
| 2026-01-29 | 174.55 | 147.98 | +0.77 | BTI ahead |
| 2026-01-28 | 174.38 | 148.57 | +0.74 | BTI ahead |
| 2026-01-27 | 174.90 | 148.81 | +0.75 | BTI ahead |
| 2026-01-26 | 170.99 | 146.21 | +0.72 | BTI ahead |
| 2026-01-23 | 171.48 | 143.93 | +0.86 | BTI ahead |
| 2026-01-22 | 168.75 | 141.46 | +0.87 | BTI ahead |
| 2026-01-21 | 167.28 | 140.43 | +0.87 | BTI ahead |
| 2026-01-20 | 163.25 | 139.07 | +0.77 | BTI ahead |
| 2026-01-16 | 168.75 | 144.43 | +0.74 | BTI ahead |
| 2026-01-15 | 168.35 | 143.55 | +0.77 | BTI ahead |
| 2026-01-14 | 166.49 | 142.32 | +0.75 | BTI ahead |
| 2026-01-13 | 164.12 | 137.97 | +0.88 | BTI ahead |
| 2026-01-12 | 161.39 | 137.39 | +0.79 | BTI ahead |
| 2026-01-09 | 159.97 | 135.27 | +0.84 | BTI ahead |
| 2026-01-08 | 155.91 | 132.11 | +0.83 | BTI ahead |
| 2026-01-07 | 154.46 | 129.07 | +0.94 | BTI ahead |
| 2026-01-06 | 156.70 | 129.07 | +1.05 | BTI ahead |
| 2026-01-05 | 160.87 | 132.98 | +1.03 | BTI ahead |
| 2026-01-02 | 163.91 | 133.35 | +1.15 | BTI ahead |
| 2025-12-31 | 164.12 | 133.43 | +1.17 | BTI ahead |
| 2025-12-30 | 163.91 | 134.72 | +1.09 | BTI ahead |
| 2025-12-29 | 165.28 | 134.71 | +1.16 | BTI ahead |
| 2025-12-26 | 166.00 | 133.97 | +1.25 | BTI ahead |
| 2025-12-24 | 165.91 | 135.30 | +1.18 | BTI ahead |
| 2025-12-23 | 165.33 | 134.81 | +1.19 | BTI ahead |
| 2025-12-22 | 164.55 | 132.85 | +1.27 | BTI ahead |
| 2025-12-19 | 163.62 | 130.47 | +1.37 | BTI ahead |
| 2025-12-18 | 165.33 | 130.86 | +1.44 | BTI ahead |
| 2025-12-17 | 165.71 | 131.94 | +1.41 | BTI ahead |
| 2025-12-16 | 166.06 | 131.40 | +1.47 | BTI ahead |
| 2025-12-15 | 167.36 | 131.78 | +1.52 | BTI ahead |
| 2025-12-12 | 165.51 | 127.82 | +1.68 | BTI ahead |
| 2025-12-11 | 169.19 | 125.57 | +2.01 | BTI ahead |
| 2025-12-10 | 170.32 | 124.59 | +2.15 | BTI ahead |
| 2025-12-09 | 166.06 | 125.09 | +1.94 | BTI ahead |
| 2025-12-08 | 166.41 | 123.36 | +2.10 | BTI ahead |
| 2025-12-05 | 165.25 | 122.96 | +2.09 | BTI ahead |
| 2025-12-04 | 168.23 | 123.60 | +2.22 | BTI ahead |
| 2025-12-03 | 166.70 | 126.20 | +2.01 | BTI ahead |
| 2025-12-02 | 167.91 | 128.62 | +1.94 | BTI ahead |
| 2025-12-01 | 168.49 | 129.90 | +1.91 | BTI ahead |
| 2025-11-28 | 170.03 | 131.00 | +1.93 | BTI ahead |
| 2025-11-26 | 167.57 | 130.18 | +1.89 | BTI ahead |
| 2025-11-25 | 164.23 | 130.95 | +1.69 | BTI ahead |
| 2025-11-24 | 158.78 | 125.66 | +1.77 | BTI ahead |
| 2025-11-21 | 160.14 | 129.14 | +1.62 | BTI ahead |
| 2025-11-20 | 158.70 | 129.48 | +1.54 | BTI ahead |
| 2025-11-19 | 158.67 | 129.45 | +1.55 | BTI ahead |
| 2025-11-18 | 159.01 | 129.65 | +1.58 | BTI ahead |
| 2025-11-17 | 158.58 | 127.08 | +1.74 | BTI ahead |
| 2025-11-14 | 156.90 | 129.30 | +1.51 | BTI ahead |
| 2025-11-13 | 157.91 | 129.07 | +1.60 | BTI ahead |
| 2025-11-12 | 161.80 | 129.41 | +1.81 | BTI ahead |
| 2025-11-11 | 161.62 | 130.44 | +1.75 | BTI ahead |
| 2025-11-10 | 160.64 | 129.00 | +1.81 | BTI ahead |
| 2025-11-07 | 158.23 | 127.60 | +1.79 | BTI ahead |
| 2025-11-06 | 157.13 | 124.70 | +1.96 | BTI ahead |
| 2025-11-05 | 156.17 | 123.45 | +2.02 | BTI ahead |
| 2025-11-04 | 153.57 | 122.84 | +1.94 | BTI ahead |
| 2025-11-03 | 152.00 | 120.29 | +2.06 | BTI ahead |
| 2025-10-31 | 148.38 | 120.06 | +1.88 | BTI ahead |
| 2025-10-30 | 148.64 | 121.25 | +1.82 | BTI ahead |
| 2025-10-29 | 149.91 | 122.09 | +1.86 | BTI ahead |
| 2025-10-28 | 152.06 | 124.62 | +1.82 | BTI ahead |
| 2025-10-27 | 150.99 | 127.45 | +1.56 | BTI ahead |
| 2025-10-24 | 150.93 | 131.12 | +1.30 | BTI ahead |
| 2025-10-23 | 150.29 | 131.19 | +1.26 | BTI ahead |
| 2025-10-22 | 148.23 | 130.49 | +1.19 | BTI ahead |
| 2025-10-21 | 146.06 | 126.45 | +1.36 | BTI ahead |
| 2025-10-20 | 148.29 | 131.49 | +1.14 | BTI ahead |
| 2025-10-17 | 149.62 | 131.49 | +1.23 | BTI ahead |
| 2025-10-16 | 148.23 | 129.76 | +1.27 | BTI ahead |
| 2025-10-15 | 147.10 | 131.21 | +1.10 | BTI ahead |
| 2025-10-14 | 148.12 | 132.33 | +1.09 | BTI ahead |
| 2025-10-13 | 147.28 | 132.66 | +1.02 | BTI ahead |
| 2025-10-10 | 149.39 | 133.49 | +1.10 | BTI ahead |
| 2025-10-09 | 148.87 | 130.48 | +1.29 | BTI ahead |
| 2025-10-08 | 149.57 | 129.17 | +1.45 | BTI ahead |
| 2025-10-07 | 150.67 | 128.57 | +1.58 | BTI ahead |
| 2025-10-06 | 148.35 | 127.73 | +1.50 | BTI ahead |
| 2025-10-03 | 148.52 | 127.50 | +1.54 | BTI ahead |
| 2025-10-02 | 151.74 | 131.36 | +1.46 | BTI ahead |
| 2025-10-01 | 151.54 | 133.82 | +1.27 | BTI ahead |
| 2025-09-30 | 153.86 | 134.93 | +1.35 | BTI ahead |
| 2025-09-29 | 153.13 | 135.59 | +1.25 | BTI ahead |
| 2025-09-26 | 153.62 | 137.17 | +1.17 | BTI ahead |
| 2025-09-25 | 151.74 | 136.43 | +1.11 | BTI ahead |
| 2025-09-24 | 151.83 | 135.60 | +1.17 | BTI ahead |
| 2025-09-23 | 154.17 | 136.24 | +1.28 | BTI ahead |
| 2025-09-22 | 156.14 | 134.75 | +1.53 | BTI ahead |
| 2025-09-19 | 158.55 | 135.55 | +1.63 | BTI ahead |
| 2025-09-18 | 159.19 | 134.56 | +1.76 | BTI ahead |
| 2025-09-17 | 162.41 | 138.34 | +1.69 | BTI ahead |
| 2025-09-16 | 161.71 | 135.56 | +1.86 | BTI ahead |
| 2025-09-15 | 162.41 | 134.46 | +2.01 | BTI ahead |
| 2025-09-12 | 164.03 | 138.18 | +1.84 | BTI ahead |
| 2025-09-11 | 166.12 | 139.67 | +1.88 | BTI ahead |
| 2025-09-10 | 163.07 | 137.52 | +1.86 | BTI ahead |
| 2025-09-09 | 163.07 | 137.04 | +1.92 | BTI ahead |
| 2025-09-08 | 162.87 | 135.36 | +2.05 | BTI ahead |
| 2025-09-05 | 162.38 | 134.39 | +2.12 | BTI ahead |
| 2025-09-04 | 160.67 | 134.06 | +2.05 | BTI ahead |
| 2025-09-03 | 159.65 | 135.78 | +1.86 | BTI ahead |
| 2025-09-02 | 160.12 | 139.26 | +1.63 | BTI ahead |
| 2025-08-29 | 164.90 | 139.03 | +1.99 | BTI ahead |
| 2025-08-28 | 162.93 | 137.90 | +1.96 | BTI ahead |
| 2025-08-27 | 164.55 | 136.59 | +2.20 | BTI ahead |
| 2025-08-26 | 166.17 | 138.66 | +2.17 | BTI ahead |
| 2025-08-25 | 167.54 | 139.23 | +2.24 | BTI ahead |
| 2025-08-22 | 169.59 | 142.87 | +2.10 | BTI ahead |
| 2025-08-21 | 171.80 | 145.15 | +2.09 | BTI ahead |
| 2025-08-20 | 171.04 | 143.79 | +2.17 | BTI ahead |
| 2025-08-19 | 166.58 | 140.40 | +2.16 | BTI ahead |
| 2025-08-18 | 167.30 | 138.59 | +2.39 | BTI ahead |
| 2025-08-15 | 165.65 | 138.25 | +2.33 | BTI ahead |
| 2025-08-14 | 166.43 | 137.48 | +2.48 | BTI ahead |
| 2025-08-13 | 165.54 | 137.99 | +2.40 | BTI ahead |
| 2025-08-12 | 167.88 | 140.25 | +2.40 | BTI ahead |
| 2025-08-11 | 169.07 | 141.69 | +2.39 | BTI ahead |
| 2025-08-08 | 165.91 | 141.57 | +2.19 | BTI ahead |
| 2025-08-07 | 164.32 | 139.90 | +2.23 | BTI ahead |
| 2025-08-06 | 163.48 | 138.92 | +2.28 | BTI ahead |
| 2025-08-05 | 161.86 | 136.54 | +2.40 | BTI ahead |
| 2025-08-04 | 161.01 | 135.59 | +2.45 | BTI ahead |
| 2025-08-01 | 157.54 | 135.56 | +2.19 | BTI ahead |
| 2025-07-31 | 155.59 | 136.47 | +1.95 | BTI ahead |
| 2025-07-30 | 154.09 | 134.91 | +1.99 | BTI ahead |
| 2025-07-29 | 152.96 | 135.39 | +1.86 | BTI ahead |
| 2025-07-28 | 150.09 | 131.25 | +2.03 | BTI ahead |
| 2025-07-25 | 151.45 | 133.87 | +1.91 | BTI ahead |
| 2025-07-24 | 152.52 | 134.00 | +2.00 | BTI ahead |
| 2025-07-23 | 151.80 | 136.99 | +1.65 | BTI ahead |
| 2025-07-22 | 151.36 | 137.48 | +1.56 | BTI ahead |
| 2025-07-21 | 150.14 | 150.14 | +0.28 | near the usual relationship |
| 2025-07-18 | 149.54 | 148.68 | +0.35 | near the usual relationship |
| 2025-07-17 | 148.78 | 149.05 | +0.25 | near the usual relationship |
| 2025-07-16 | 151.51 | 152.46 | +0.19 | near the usual relationship |
| 2025-07-15 | 149.19 | 150.50 | +0.15 | near the usual relationship |
| 2025-07-14 | 148.81 | 150.36 | +0.12 | near the usual relationship |
| 2025-07-11 | 148.32 | 149.66 | +0.14 | near the usual relationship |
| 2025-07-10 | 147.30 | 150.56 | -0.04 | near the usual relationship |
| 2025-07-09 | 142.29 | 148.06 | -0.27 | near the usual relationship |
| 2025-07-08 | 138.93 | 147.84 | -0.57 | PM ahead |
| 2025-07-07 | 141.04 | 150.74 | -0.63 | PM ahead |
| 2025-07-03 | 140.23 | 148.81 | -0.55 | PM ahead |
| 2025-07-02 | 137.28 | 146.34 | -0.61 | PM ahead |
| 2025-07-01 | 135.33 | 147.68 | -0.92 | PM ahead |
| 2025-06-30 | 137.19 | 151.51 | -1.08 | PM ahead |
| 2025-06-27 | 136.12 | 150.59 | -1.11 | PM ahead |
| 2025-06-26 | 139.39 | 150.29 | -0.79 | PM ahead |
| 2025-06-25 | 138.43 | 149.41 | -0.81 | PM ahead |
| 2025-06-24 | 140.58 | 153.47 | -0.96 | PM ahead |
| 2025-06-23 | 141.33 | 153.86 | -0.93 | PM ahead |
| 2025-06-20 | 142.03 | 152.47 | -0.76 | PM ahead |
| 2025-06-18 | 143.01 | 151.91 | -0.63 | PM ahead |
| 2025-06-17 | 141.39 | 152.62 | -0.84 | PM ahead |
| 2025-06-16 | 142.03 | 152.47 | -0.78 | PM ahead |
| 2025-06-13 | 141.45 | 153.34 | -0.91 | PM ahead |
| 2025-06-12 | 140.87 | 153.15 | -0.95 | PM ahead |
| 2025-06-11 | 141.39 | 152.54 | -0.86 | PM ahead |
| 2025-06-10 | 137.68 | 148.93 | -0.90 | PM ahead |
| 2025-06-09 | 138.81 | 150.26 | -0.92 | PM ahead |
| 2025-06-06 | 138.52 | 151.18 | -1.03 | PM ahead |
| 2025-06-05 | 137.51 | 151.37 | -1.15 | PM ahead |
| 2025-06-04 | 133.83 | 150.29 | -1.42 | PM ahead |
| 2025-06-03 | 134.32 | 151.71 | -1.51 | PM ahead |
| 2025-06-02 | 131.57 | 152.03 | -1.82 | PM ahead |
| 2025-05-30 | 131.01 | 150.23 | -1.74 | PM ahead |
| 2025-05-29 | 130.35 | 147.97 | -1.62 | PM ahead |
| 2025-05-28 | 130.70 | 148.73 | -1.67 | PM ahead |
| 2025-05-27 | 131.19 | 149.10 | -1.67 | PM ahead |
| 2025-05-23 | 131.07 | 148.23 | -1.62 | PM ahead |
| 2025-05-22 | 129.28 | 145.77 | -1.60 | PM ahead |
| 2025-05-21 | 128.87 | 145.28 | -1.61 | PM ahead |
| 2025-05-20 | 128.81 | 144.85 | -1.59 | PM ahead |
| 2025-05-19 | 126.32 | 144.06 | -1.80 | PM ahead |
| 2025-05-16 | 123.59 | 141.79 | -1.90 | PM ahead |
| 2025-05-15 | 119.91 | 140.70 | -2.23 | PM ahead |
| 2025-05-14 | 117.54 | 136.45 | -2.11 | PM ahead |
| 2025-05-13 | 117.94 | 136.28 | -2.07 | PM ahead |
| 2025-05-12 | 118.78 | 137.12 | -2.09 | PM ahead |
| 2025-05-09 | 120.70 | 141.17 | -2.30 | PM ahead |
| 2025-05-08 | 125.51 | 143.08 | -1.97 | PM ahead |
| 2025-05-07 | 128.84 | 145.88 | -1.89 | PM ahead |
| 2025-05-06 | 129.16 | 144.81 | -1.77 | PM ahead |
| 2025-05-05 | 126.81 | 144.07 | -1.98 | PM ahead |
| 2025-05-02 | 125.13 | 142.13 | -2.01 | PM ahead |
| 2025-05-01 | 125.51 | 141.46 | -1.92 | PM ahead |
| 2025-04-30 | 126.23 | 142.55 | -1.97 | PM ahead |
| 2025-04-29 | 124.23 | 141.64 | -2.13 | PM ahead |
| 2025-04-28 | 122.87 | 140.73 | -2.23 | PM ahead |
| 2025-04-25 | 121.88 | 141.62 | -2.48 | PM ahead |
| 2025-04-24 | 123.04 | 141.48 | -2.36 | PM ahead |
| 2025-04-23 | 123.22 | 139.85 | -2.20 | PM ahead |
| 2025-04-22 | 124.06 | 136.52 | -1.74 | PM ahead |
| 2025-04-21 | 123.33 | 134.91 | -1.67 | PM ahead |
| 2025-04-17 | 122.81 | 135.77 | -1.85 | PM ahead |
| 2025-04-16 | 121.25 | 133.50 | -1.80 | PM ahead |
| 2025-04-15 | 122.67 | 133.18 | -1.60 | PM ahead |
| 2025-04-14 | 121.77 | 131.10 | -1.48 | PM ahead |
| 2025-04-11 | 120.49 | 128.02 | -1.29 | PM ahead |
| 2025-04-10 | 117.54 | 125.75 | -1.41 | PM ahead |
| 2025-04-09 | 116.55 | 126.28 | -1.61 | PM ahead |
| 2025-04-08 | 114.64 | 124.14 | -1.61 | PM ahead |
| 2025-04-07 | 114.29 | 125.80 | -1.88 | PM ahead |
| 2025-04-04 | 115.54 | 125.30 | -1.66 | PM ahead |
| 2025-04-03 | 121.51 | 134.82 | -2.03 | PM ahead |
| 2025-04-02 | 116.67 | 129.91 | -2.11 | PM ahead |
| 2025-04-01 | 119.13 | 131.51 | -1.99 | PM ahead |
| 2025-03-31 | 119.91 | 132.04 | -1.97 | PM ahead |
| 2025-03-28 | 117.42 | 129.07 | -1.97 | PM ahead |
| 2025-03-27 | 119.39 | 128.95 | -1.71 | PM ahead |
| 2025-03-26 | 118.32 | 128.38 | -1.79 | PM ahead |
| 2025-03-25 | 118.00 | 126.62 | -1.64 | PM ahead |
| 2025-03-24 | 118.38 | 126.07 | -1.53 | PM ahead |
| 2025-03-21 | 118.35 | 126.01 | -1.54 | PM ahead |
| 2025-03-20 | 119.04 | 126.84 | -1.56 | PM ahead |
| 2025-03-19 | 119.39 | 128.35 | -1.72 | PM ahead |
| 2025-03-18 | 119.59 | 127.98 | -1.66 | PM ahead |
| 2025-03-17 | 121.28 | 129.53 | -1.65 | PM ahead |
| 2025-03-14 | 119.88 | 126.35 | -1.45 | PM ahead |
| 2025-03-13 | 119.94 | 125.19 | -1.31 | PM ahead |
| 2025-03-12 | 119.88 | 125.88 | -1.42 | PM ahead |
| 2025-03-11 | 118.84 | 126.53 | -1.65 | PM ahead |
| 2025-03-10 | 117.57 | 125.27 | -1.68 | PM ahead |
| 2025-03-07 | 118.55 | 125.57 | -1.60 | PM ahead |
| 2025-03-06 | 116.41 | 127.73 | -2.18 | PM ahead |
| 2025-03-05 | 115.01 | 127.39 | -2.36 | PM ahead |
| 2025-03-04 | 114.81 | 128.07 | -2.51 | PM ahead |
| 2025-03-03 | 115.28 | 132.09 | -3.00 | PM ahead |
| 2025-02-28 | 112.84 | 129.17 | -3.04 | PM ahead |
| 2025-02-27 | 112.20 | 128.13 | -3.05 | PM ahead |
| 2025-02-26 | 112.64 | 128.72 | -3.13 | PM ahead |
| 2025-02-25 | 111.77 | 130.95 | -3.64 | PM ahead |
| 2025-02-24 | 110.41 | 130.01 | -3.84 | PM ahead |
| 2025-02-21 | 109.71 | 128.44 | -3.84 | PM ahead |
| 2025-02-20 | 111.74 | 126.09 | -3.23 | PM ahead |
| 2025-02-19 | 111.33 | 124.62 | -3.13 | PM ahead |
| 2025-02-18 | 110.55 | 123.78 | -3.19 | PM ahead |
| 2025-02-14 | 112.52 | 125.16 | -3.12 | PM ahead |
| 2025-02-13 | 114.81 | 124.10 | -2.61 | PM ahead |
| 2025-02-12 | 123.88 | 124.69 | -1.27 | PM ahead |
| 2025-02-11 | 123.25 | 123.10 | -1.12 | PM ahead |
| 2025-02-10 | 122.61 | 121.93 | -1.05 | PM ahead |
| 2025-02-07 | 121.04 | 120.13 | -1.02 | PM ahead |
| 2025-02-06 | 120.64 | 120.89 | -1.21 | PM ahead |
| 2025-02-05 | 119.13 | 108.96 | +0.48 | near the usual relationship |
| 2025-02-04 | 116.61 | 108.47 | +0.16 | near the usual relationship |
| 2025-02-03 | 115.19 | 108.47 | -0.07 | near the usual relationship |
| 2025-01-31 | 114.90 | 108.31 | -0.09 | near the usual relationship |
| 2025-01-30 | 115.01 | 108.41 | -0.09 | near the usual relationship |
| 2025-01-29 | 113.80 | 107.80 | -0.19 | near the usual relationship |
| 2025-01-28 | 113.54 | 107.28 | -0.15 | near the usual relationship |
| 2025-01-27 | 114.81 | 108.50 | -0.16 | near the usual relationship |
| 2025-01-24 | 109.88 | 105.88 | -0.51 | PM ahead |
| 2025-01-23 | 107.39 | 104.34 | -0.67 | PM ahead |
| 2025-01-22 | 106.00 | 102.23 | -0.54 | PM ahead |
| 2025-01-21 | 106.46 | 102.99 | -0.60 | PM ahead |
| 2025-01-17 | 105.22 | 101.15 | -0.49 | near the usual relationship |
| 2025-01-16 | 104.03 | 99.66 | -0.43 | near the usual relationship |
| 2025-01-15 | 103.77 | 98.59 | -0.28 | near the usual relationship |
| 2025-01-14 | 103.54 | 98.55 | -0.32 | near the usual relationship |
| 2025-01-13 | 102.46 | 97.79 | -0.37 | near the usual relationship |
| 2025-01-10 | 104.06 | 97.45 | -0.03 | near the usual relationship |
| 2025-01-08 | 106.49 | 101.37 | -0.33 | near the usual relationship |
| 2025-01-07 | 106.61 | 100.99 | -0.25 | near the usual relationship |
| 2025-01-06 | 107.16 | 100.66 | -0.10 | near the usual relationship |
| 2025-01-03 | 107.22 | 101.51 | -0.24 | near the usual relationship |
| 2025-01-02 | 105.91 | 100.74 | -0.33 | near the usual relationship |
| 2024-12-31 | 105.28 | 100.12 | -0.33 | near the usual relationship |
| 2024-12-30 | 104.52 | 99.83 | -0.41 | near the usual relationship |
| 2024-12-27 | 105.25 | 101.03 | -0.50 | PM ahead |
| 2024-12-26 | 105.59 | 101.25 | -0.48 | near the usual relationship |
| 2024-12-24 | 105.10 | 102.25 | -0.75 | PM ahead |
| 2024-12-23 | 104.99 | 102.97 | -0.91 | PM ahead |
| 2024-12-20 | 105.04 | 103.34 | -0.97 | PM ahead |
| 2024-12-19 | 106.87 | 101.63 | -0.35 | near the usual relationship |
| 2024-12-18 | 107.25 | 103.61 | -0.65 | PM ahead |
| 2024-12-17 | 108.09 | 104.85 | -0.72 | PM ahead |
| 2024-12-16 | 109.10 | 104.77 | -0.54 | PM ahead |
| 2024-12-13 | 109.13 | 105.33 | -0.64 | PM ahead |
| 2024-12-12 | 108.87 | 105.65 | -0.74 | PM ahead |
| 2024-12-11 | 109.39 | 105.50 | -0.63 | PM ahead |
| 2024-12-10 | 109.36 | 107.30 | -0.95 | PM ahead |
| 2024-12-09 | 109.74 | 107.07 | -0.86 | PM ahead |
| 2024-12-06 | 109.57 | 108.61 | -1.16 | PM ahead |
| 2024-12-05 | 109.51 | 110.22 | -1.45 | PM ahead |
| 2024-12-04 | 107.80 | 108.54 | -1.46 | PM ahead |
| 2024-12-03 | 107.33 | 107.89 | -1.44 | PM ahead |
| 2024-12-02 | 109.36 | 108.99 | -1.29 | PM ahead |
| 2024-11-29 | 109.97 | 110.69 | -1.48 | PM ahead |
| 2024-11-27 | 109.97 | 109.66 | -1.32 | PM ahead |
| 2024-11-26 | 109.30 | 110.04 | -1.50 | PM ahead |
| 2024-11-25 | 108.20 | 108.73 | -1.48 | PM ahead |
| 2024-11-22 | 108.35 | 108.14 | -1.37 | PM ahead |
| 2024-11-21 | 107.19 | 109.15 | -1.74 | PM ahead |
| 2024-11-20 | 107.48 | 108.47 | -1.59 | PM ahead |
| 2024-11-19 | 107.04 | 107.76 | -1.56 | PM ahead |
| 2024-11-18 | 106.32 | 109.57 | -2.00 | PM ahead |
| 2024-11-15 | 105.48 | 106.97 | -1.72 | PM ahead |
| 2024-11-14 | 102.87 | 106.65 | -2.14 | PM ahead |
| 2024-11-13 | 102.67 | 104.18 | -1.77 | PM ahead |
| 2024-11-12 | 102.14 | 103.34 | -1.73 | PM ahead |
| 2024-11-11 | 101.88 | 103.94 | -1.89 | PM ahead |
| 2024-11-08 | 102.58 | 105.02 | -1.97 | PM ahead |
| 2024-11-07 | 102.61 | 102.97 | -1.63 | PM ahead |
| 2024-11-06 | 103.30 | 104.24 | -1.74 | PM ahead |
| 2024-11-05 | 102.78 | 109.97 | -2.85 | PM ahead |
| 2024-11-04 | 101.77 | 108.42 | -2.82 | PM ahead |
| 2024-11-01 | 101.65 | 108.68 | -2.94 | PM ahead |
| 2024-10-31 | 101.39 | 110.39 | -3.36 | PM ahead |
| 2024-10-30 | 99.59 | 109.90 | -3.73 | PM ahead |
| 2024-10-29 | 99.88 | 109.45 | -3.70 | PM ahead |
| 2024-10-28 | 101.19 | 108.56 | -3.36 | PM ahead |
| 2024-10-25 | 99.91 | 108.03 | -3.62 | PM ahead |
| 2024-10-24 | 100.43 | 110.47 | -4.12 | PM ahead |
| 2024-10-23 | 100.61 | 109.32 | -3.99 | PM ahead |
| 2024-10-22 | 101.13 | 109.32 | -4.02 | PM ahead |
| 2024-10-21 | 99.28 | 98.96 | -2.19 | PM ahead |
| 2024-10-18 | 100.00 | 100.00 | -2.30 | PM ahead |
One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Oct 22, 2024 (BTI +1.9%, PM +10.5%); Nov 6, 2024 (BTI +0.5%, PM -5.2%); Feb 6, 2025 (BTI +1.3%, PM +10.9%); Feb 13, 2025 (BTI -7.3%, PM -0.5%); Jul 22, 2025 (BTI +0.8%, PM -8.4%).
Paired trades
The shared paper book and the replay, kept apart
Forward paper record
No paper position on this pair yet.
Historical simulation (a diagnostic, same rules)
No simulated trade through Oct 20, 2026: the pair rarely passed every test while 2 standard deviations apart.
Per $10,000 a leg. A replay on today's companies cannot prove an edge.
The companies
BTI and PM at a glance
BTI British American Tobacco Industries p.l.c. Common Stock ADR
- Listing
- NYSE · SEC CIK 1303523
- Industry
- Medicinal Chemicals and Botanical Products · SIC 2111 Cigarettes
- Market value
- $126.4B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
PM Philip Morris International Inc
- Listing
- NYSE · SEC CIK 1413329
- Industry
- Medicinal Chemicals and Botanical Products · SIC 2111 Cigarettes
- Market value
- $313.4B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.
Related
All pairs →Other rivals of BTI and PM
Follow the research behind the paper book
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Explore the private betaPaper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.
