BF.B vs STZ: Correlation
Measured on weekly returns over the past three years, Brown–Forman (BF.B) and Constellation Brands (STZ) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BF.B and STZ?
Across a 3-year window, the weekly returns of BF.B and STZ correlate at 0.52, moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. Stretching to 5 years gives 0.56, with an annualized covariance of 469.0 %².
STZ is one of the assets that tracks BF.B most closely: it ranks #2 out of the 36 assets we track against BF.B. The trailing year gives BF.B the advantage: -7.4% versus -15.7%, a 8.3-point spread. Across three years, the rolling one-year figure varied moderately, from 0.29 to 0.77.
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 STZ: side by side
| BF.B (Brown–Forman) | STZ (Constellation Brands) | |
|---|---|---|
| 1-year return | -7.4% | -15.7% |
| 5-year return | -56.8% | -31.9% |
| Volatility (ann.) | 34.0% | 26.6% |
| Beta vs S&P 500 | 0.51 | 0.41 |
| Max drawdown (3Y) | -64.8% | -51.3% |
| Market cap | $12.5B | $22.4B |
| P/E (trailing) | 18.3 | 12.8 |
| Dividend yield | 3.26% | 3.04% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | BF.B | STZ |
|---|---|---|
| 2022 | -8.9% | -6.4% |
| 2023 | -11.9% | +5.8% |
| 2024 | -32.2% | -7.1% |
| 2025 | -29.3% | -36.0% |
| 2026 | +6.6% | -2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BF.B and STZ good diversifiers for each other?
Only partially. A correlation of 0.52 means BF.B and STZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BF.B and STZ?
As of 2026-08-27, the correlation of weekly returns between BF.B and STZ is 0.52 over 3 years, 0.45 over 1 year and 0.56 over 5 years.
Is STZ a good diversifier for BF.B?
Only partially. A correlation of 0.52 means BF.B and STZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
A reading of 0.52 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bf-b-vs-stz.json
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[](https://www.pairbook.io/pair/bf-b-vs-stz/)
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Related comparisons
Hubs: BF.B correlations · STZ correlations
