A percolation model that sets a correlation between the resistivity ρ of metal-polymer compositions and the volume fraction α of a metal pigment is suggested. The relationship lnρ = lnρ0 + 1.73/a(Vmp/α)1/3 (where ρ0 is the empirical resistivity of closely packed metal particles in a polymer, 1.73 is the analytical numeric factor, a is an energy constant defined by the conductivity type, and Vmp is the mean volume of a metal particle) is derived. Analytical and experimental data are in qualitative agreement.