ADM vs KO: Correlation
Measured on weekly returns over the past three years, Archer Daniels Midland (ADM) and Coca-Cola Company (The) (KO) carry a correlation of 0.23, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADM and KO?
Over the past 3 years, ADM and KO moved with a correlation of 0.23, which is weak. The relationship has been stable: the 1-year correlation (0.16) sits close to the 3-year figure. Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 103.7 %².
By 3-year correlation, KO places #16 of the 33 assets tracked against ADM. Their 12-month results are close: +29.8% for ADM against +33.1% for KO. The rolling one-year correlation stayed in a tight band between 0.14 and 0.35 over the past three years, which points to a structural rather than episodic relationship. Note the risk asymmetry: ADM runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ADM vs KO: side by side
| ADM (Archer Daniels Midland) | KO (Coca-Cola Company (The)) | |
|---|---|---|
| 1-year return | +29.8% | +33.1% |
| 5-year return | +51.7% | +83.8% |
| Volatility (ann.) | 29.9% | 15.4% |
| Beta vs S&P 500 | 0.24 | 0.11 |
| Max drawdown (3Y) | -46.0% | -15.5% |
| Market cap | $38.1B | $383.2B |
| P/E (trailing) | 21.9 | 27.0 |
| Dividend yield | 2.57% | 2.31% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | ADM | KO |
|---|---|---|
| 2022 | +40.0% | +10.6% |
| 2023 | -20.4% | -4.4% |
| 2024 | -27.5% | +8.9% |
| 2025 | +18.2% | +15.6% |
| 2026 | +40.4% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADM and KO good diversifiers for each other?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ADM and KO?
The ADM/KO correlation stands at 0.23 on a 3-year window (1 year: 0.16, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is KO a good diversifier for ADM?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.23 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/adm-vs-ko.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adm-vs-ko/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ADM correlations · KO correlations
