CAG vs CL: Correlation
How closely do ConAgra Brands, Inc. (CAG) and Colgate-Palmolive (CL) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAG and CL?
Across a 3-year window, the weekly returns of CAG and CL correlate at 0.53, moderate. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. Stretching to 5 years gives 0.56, with an annualized covariance of 218.4 %².
Within CAG's tracked universe of 34 assets, CL comes in at #5 by 3-year correlation. The last year tells two different stories: CL led by 20.2 percentage points, -9.8% for CAG against +10.4% for CL.
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.
CAG vs CL: side by side
| CAG (ConAgra Brands, Inc.) | CL (Colgate-Palmolive) | |
|---|---|---|
| 1-year return | -9.8% | +10.4% |
| 5-year return | -36.6% | +32.0% |
| Volatility (ann.) | 24.2% | 16.9% |
| Beta vs S&P 500 | -0.05 | 0.17 |
| Max drawdown (3Y) | -56.7% | -29.0% |
| Market cap | $7.7B | $72.5B |
| P/E (trailing) | – | 36.2 |
| Dividend yield | 8.65% | 2.27% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CAG | CL |
|---|---|---|
| 2022 | +17.5% | -5.4% |
| 2023 | -22.8% | +3.8% |
| 2024 | +1.5% | +16.6% |
| 2025 | -33.3% | -11.0% |
| 2026 | -2.1% | +17.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAG and CL good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CAG and CL?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.54 over the last year and 0.56 over 5 years.
Is CL a good diversifier for CAG?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 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/cag-vs-cl.json
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Related comparisons
Hubs: CAG correlations · CL correlations
