CAG vs CPB: Correlation
How closely do ConAgra Brands, Inc. (CAG) and The Campbell's Company (CPB) trade together? Their weekly returns over three years give a correlation of 0.72, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAG and CPB?
Over the past 3 years, CAG and CPB moved with a correlation of 0.72, which is strong. Little has changed lately, as the 1-year reading of 0.76 lands near the 3-year figure. Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 424.3 %².
Few assets follow CAG as closely as CPB, which ranks #2 of 34 tracked partners. On 12-month performance CAG holds a 13.0-point edge, -9.8% against -22.8%.
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 CPB: side by side
| CAG (ConAgra Brands, Inc.) | CPB (The Campbell's Company) | |
|---|---|---|
| 1-year return | -9.8% | -22.8% |
| 5-year return | -36.6% | -30.8% |
| Volatility (ann.) | 24.2% | 24.5% |
| Beta vs S&P 500 | -0.05 | 0.07 |
| Max drawdown (3Y) | -56.7% | -58.1% |
| Market cap | $7.7B | – |
| P/E (trailing) | – | 11.4 |
| Dividend yield | 8.65% | 6.72% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAG | CPB |
|---|---|---|
| 2022 | +17.5% | +34.8% |
| 2023 | -22.8% | -21.5% |
| 2024 | +1.5% | +0.1% |
| 2025 | -33.3% | -30.5% |
| 2026 | -2.1% | -12.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAG and CPB good diversifiers for each other?
To a limited degree. At 0.72 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 CPB?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.76 over the last year and 0.73 over 5 years.
Is CPB a good diversifier for CAG?
To a limited degree. At 0.72 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 0.72 mean?
A reading of 0.72 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/cag-vs-cpb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cag-vs-cpb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CAG correlations · CPB correlations
