CARR vs COCO: Correlation
How closely do Carrier Global (CARR) and The Vita Coco Company, Inc. (COCO) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARR and COCO?
Across a 3-year window, the weekly returns of CARR and COCO correlate at 0.39, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. Stretching to 5 years gives 0.32, with an annualized covariance of 616.2 %².
By 3-year correlation, COCO places #19 of the 29 assets tracked against CARR. Their recent paths diverged sharply: over the last 12 months COCO outperformed by 89.5 percentage points (-11.6% for CARR against +77.9% for COCO).
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.
CARR vs COCO: side by side
| CARR (Carrier Global) | COCO (The Vita Coco Company, Inc.) | |
|---|---|---|
| 1-year return | -11.6% | +77.9% |
| 5-year return | +8.8% | +355.8% |
| Volatility (ann.) | 32.6% | 48.3% |
| Beta vs S&P 500 | 1.21 | 1.00 |
| Max drawdown (3Y) | -38.1% | -38.5% |
| Market cap | $48.5B | $3.6B |
| P/E (trailing) | 42.0 | 34.6 |
| Dividend yield | 1.61% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CARR | COCO |
|---|---|---|
| 2022 | -22.7% | +23.7% |
| 2023 | +41.5% | +85.6% |
| 2024 | +20.3% | +43.9% |
| 2025 | -21.8% | +43.6% |
| 2026 | +12.6% | +16.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARR and COCO good diversifiers for each other?
Reasonably. At 0.39, CARR and COCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CARR and COCO?
As of 2026-08-27, the correlation of weekly returns between CARR and COCO is 0.39 over 3 years, 0.36 over 1 year and 0.32 over 5 years.
Is COCO a good diversifier for CARR?
Reasonably. At 0.39, CARR and COCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CARR correlations · COCO correlations
