CAG vs TAP: Correlation
Measured on weekly returns over the past three years, ConAgra Brands, Inc. (CAG) and Molson Coors Beverage Company (TAP) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAG and TAP?
Over the past 3 years, CAG and TAP moved with a correlation of 0.46, which is moderate. The link has tightened recently: the 1-year correlation (0.64) runs above the 3-year figure (0.46). Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 266.3 %².
Within CAG's tracked universe of 34 assets, TAP comes in at #10 by 3-year correlation. The trailing year gives CAG the advantage: -9.8% versus -15.0%, a 5.2-point spread.
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 TAP: side by side
| CAG (ConAgra Brands, Inc.) | TAP (Molson Coors Beverage Company) | |
|---|---|---|
| 1-year return | -9.8% | -15.0% |
| 5-year return | -36.6% | +3.9% |
| Volatility (ann.) | 24.2% | 23.9% |
| Beta vs S&P 500 | -0.05 | 0.15 |
| Max drawdown (3Y) | -56.7% | -38.8% |
| Market cap | $7.7B | $7.8B |
| P/E (trailing) | – | – |
| Dividend yield | 8.65% | 4.51% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CAG | TAP |
|---|---|---|
| 2022 | +17.5% | +14.4% |
| 2023 | -22.8% | +22.2% |
| 2024 | +1.5% | -3.4% |
| 2025 | -33.3% | -15.5% |
| 2026 | -2.1% | -8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAG and TAP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CAG and TAP?
The CAG/TAP correlation stands at 0.46 on a 3-year window (1 year: 0.64, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is TAP a good diversifier for CAG?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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-tap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cag-vs-tap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CAG correlations · TAP correlations
