The control of the plastic anisotropy during forming of a metallic sheet requires detailed knowledge on its microstructure and, especially, crystallographic texture. In the present paper the correlation of texture and plastic anisotropy in the Al-Mg Alloy AA 5005 is studied. Two different material states with different textures are compared, namely 1.7 mm thick soft-annealed material (O-temper) and 1.0 mm cold rolled strip (state H14). Tensile tests were carried out at 0°, 45° and 90° with respect to the sheet rolling direction and the resulting in-plane anisotropy in yield strength, work hardening and strain rate ratios (r-values) was determined. On a more general approach, texture-derived yield loci are compared with both phenomenological yield functions and experimental data.