BG vs TAP: Correlation
Measured on weekly returns over the past three years, Bunge Global (BG) and Molson Coors Beverage Company (TAP) carry a correlation of 0.25, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BG and TAP?
On 3 years of weekly data the BG/TAP correlation comes out at 0.25, weak. Little has changed lately, as the 1-year reading of 0.26 lands near the 3-year figure. The 5-year figure is 0.19, and annualized covariance runs at 184.0 %².
Among the 37 assets we track against BG, TAP ranks #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BG ahead by 50.2 points (+35.2% versus -15.0%). Across three years, the rolling one-year figure varied moderately, from -0.10 to 0.37.
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.
BG vs TAP: side by side
| BG (Bunge Global) | TAP (Molson Coors Beverage Company) | |
|---|---|---|
| 1-year return | +35.2% | -15.0% |
| 5-year return | +68.5% | +3.9% |
| Volatility (ann.) | 30.7% | 23.9% |
| Beta vs S&P 500 | 0.09 | 0.15 |
| Max drawdown (3Y) | -38.8% | -38.8% |
| Market cap | $21.4B | $7.8B |
| P/E (trailing) | 24.4 | – |
| Dividend yield | 2.51% | 4.51% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | BG | TAP |
|---|---|---|
| 2022 | +9.3% | +14.4% |
| 2023 | +3.8% | +22.2% |
| 2024 | -20.7% | -3.4% |
| 2025 | +18.6% | -15.5% |
| 2026 | +27.5% | -8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BG and TAP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BG and TAP?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.26 over the last year and 0.19 over 5 years.
Is TAP a good diversifier for BG?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.25 mean?
On the −1 to +1 scale, 0.25 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bg-vs-tap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bg-vs-tap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BG correlations · TAP correlations
