BUD vs MDLZ: Correlation
Measured on weekly returns over the past three years, Anheuser-Busch Inbev SA Sponsored ADR (Belgium) (BUD) and Mondelez International (MDLZ) 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 MDLZ?
Across a 3-year window, the weekly returns of BUD and MDLZ correlate at 0.48, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.48 over 3. Stretching to 5 years gives 0.50, with an annualized covariance of 264.8 %².
Within BUD's tracked universe of 15 assets, MDLZ comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BUD ahead by 23.2 points (+27.8% versus +4.6%).
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 MDLZ: side by side
| BUD (Anheuser-Busch Inbev SA Sponsored ADR (Belgium)) | MDLZ (Mondelez International) | |
|---|---|---|
| 1-year return | +27.8% | +4.6% |
| 5-year return | +39.0% | +14.7% |
| Volatility (ann.) | 26.7% | 20.5% |
| Beta vs S&P 500 | 0.38 | 0.03 |
| Max drawdown (3Y) | -31.5% | -29.0% |
| Market cap | $155.8B | $79.7B |
| P/E (trailing) | 16.9 | 22.9 |
| Dividend yield | 1.50% | 3.17% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | BUD | MDLZ |
|---|---|---|
| 2022 | +0.1% | +2.9% |
| 2023 | +9.0% | +11.2% |
| 2024 | -21.4% | -15.3% |
| 2025 | +30.1% | -7.0% |
| 2026 | +25.4% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BUD and MDLZ good diversifiers for each other?
Reasonably. At 0.48, BUD and MDLZ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BUD and MDLZ?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.43 over the last year and 0.50 over 5 years.
Is MDLZ a good diversifier for BUD?
Reasonably. At 0.48, BUD and MDLZ keep a meaningful degree of independence, and combining them has historically reduced portfolio 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bud-vs-mdlz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bud-vs-mdlz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BUD correlations · MDLZ correlations
