BF.B vs KDP: Correlation
How closely do Brown–Forman (BF.B) and Keurig Dr Pepper (KDP) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BF.B and KDP?
Across a 3-year window, the weekly returns of BF.B and KDP correlate at 0.39, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 316.3 %².
Within BF.B's tracked universe of 36 assets, KDP comes in at #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with KDP ahead by 18.3 points (-7.4% versus +10.9%). The rolling one-year correlation moved between 0.18 and 0.53 over the past three years, a moderate range.
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.
BF.B vs KDP: side by side
| BF.B (Brown–Forman) | KDP (Keurig Dr Pepper) | |
|---|---|---|
| 1-year return | -7.4% | +10.9% |
| 5-year return | -56.8% | +3.1% |
| Volatility (ann.) | 34.0% | 23.6% |
| Beta vs S&P 500 | 0.51 | 0.14 |
| Max drawdown (3Y) | -64.8% | -31.0% |
| Market cap | $12.5B | $43.4B |
| P/E (trailing) | 18.3 | 32.5 |
| Dividend yield | 3.26% | 2.86% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | BF.B | KDP |
|---|---|---|
| 2022 | -8.9% | -1.2% |
| 2023 | -11.9% | -4.2% |
| 2024 | -32.2% | -1.1% |
| 2025 | -29.3% | -10.1% |
| 2026 | +6.6% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BF.B and KDP good diversifiers for each other?
Reasonably. At 0.39, BF.B and KDP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BF.B and KDP?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.46 over the last year and 0.41 over 5 years.
Is KDP a good diversifier for BF.B?
Reasonably. At 0.39, BF.B and KDP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 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.
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Related comparisons
Hubs: BF.B correlations · KDP correlations
