CAG vs PPC: Correlation
How closely do ConAgra Brands, Inc. (CAG) and Pilgrim's Pride Corporation (PPC) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAG and PPC?
Over the past 3 years, CAG and PPC moved with a correlation of 0.35, which is moderate. The link has tightened recently: the 1-year correlation (0.57) runs above the 3-year figure (0.35). Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 254.8 %².
By 3-year correlation, PPC places #17 of the 34 assets tracked against CAG. Correlation aside, the last 12 months split them widely, with CAG ahead by 21.0 points (-9.8% versus -30.8%).
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 PPC: side by side
| CAG (ConAgra Brands, Inc.) | PPC (Pilgrim's Pride Corporation) | |
|---|---|---|
| 1-year return | -9.8% | -30.8% |
| 5-year return | -36.6% | +32.4% |
| Volatility (ann.) | 24.2% | 30.3% |
| Beta vs S&P 500 | -0.05 | -0.17 |
| Max drawdown (3Y) | -56.7% | -49.2% |
| Market cap | $7.7B | $7.4B |
| P/E (trailing) | – | 13.6 |
| Dividend yield | 8.65% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAG | PPC |
|---|---|---|
| 2022 | +17.5% | -15.9% |
| 2023 | -22.8% | +16.6% |
| 2024 | +1.5% | +64.1% |
| 2025 | -33.3% | +1.4% |
| 2026 | -2.1% | -20.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAG and PPC good diversifiers for each other?
Reasonably. At 0.35, CAG and PPC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CAG and PPC?
As of 2026-08-27, the correlation of weekly returns between CAG and PPC is 0.35 over 3 years, 0.57 over 1 year and 0.27 over 5 years.
Is PPC a good diversifier for CAG?
Reasonably. At 0.35, CAG and PPC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 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-ppc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cag-vs-ppc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CAG correlations · PPC correlations
