BUD vs CL: Correlation
Measured on weekly returns over the past three years, Anheuser-Busch Inbev SA Sponsored ADR (Belgium) (BUD) and Colgate-Palmolive (CL) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BUD and CL?
Across a 3-year window, the weekly returns of BUD and CL correlate at 0.48, moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.48 over 3. Stretching to 5 years gives 0.42, with an annualized covariance of 219.4 %².
Within BUD's tracked universe of 15 assets, CL comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BUD ahead by 17.4 points (+27.8% versus +10.4%). Risk is not evenly split, since BUD carries 1.6 times the volatility of the other side.
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.
BUD vs CL: side by side
| BUD (Anheuser-Busch Inbev SA Sponsored ADR (Belgium)) | CL (Colgate-Palmolive) | |
|---|---|---|
| 1-year return | +27.8% | +10.4% |
| 5-year return | +39.0% | +32.0% |
| Volatility (ann.) | 26.7% | 16.9% |
| Beta vs S&P 500 | 0.38 | 0.17 |
| Max drawdown (3Y) | -31.5% | -29.0% |
| Market cap | $155.8B | $72.5B |
| P/E (trailing) | 16.9 | 36.2 |
| Dividend yield | 1.50% | 2.27% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | BUD | CL |
|---|---|---|
| 2022 | +0.1% | -5.4% |
| 2023 | +9.0% | +3.8% |
| 2024 | -21.4% | +16.6% |
| 2025 | +30.1% | -11.0% |
| 2026 | +25.4% | +17.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BUD and CL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BUD and CL?
As of 2026-08-27, the correlation of weekly returns between BUD and CL is 0.48 over 3 years, 0.54 over 1 year and 0.42 over 5 years.
Is CL a good diversifier for BUD?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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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Hubs: BUD correlations · CL correlations
