CASY vs MDLZ: Correlation
Measured on weekly returns over the past three years, Casey's (CASY) and Mondelez International (MDLZ) carry a correlation of 0.21, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CASY and MDLZ?
Over the past 3 years, CASY and MDLZ moved with a correlation of 0.21, which is weak. Lately the two have moved closer together, with the 1-year correlation at 0.42 versus 0.21 over 3 years. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 125.0 %².
By 3-year correlation, MDLZ places #17 of the 30 assets tracked against CASY. Their recent paths diverged sharply: over the last 12 months CASY outperformed by 49.1 percentage points (+53.7% for CASY against +4.6% for MDLZ). This link changes with the market regime, having swung between -0.19 and 0.41 on a rolling one-year basis.
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.
CASY vs MDLZ: side by side
| CASY (Casey's) | MDLZ (Mondelez International) | |
|---|---|---|
| 1-year return | +53.7% | +4.6% |
| 5-year return | +284.3% | +14.7% |
| Volatility (ann.) | 28.9% | 20.5% |
| Beta vs S&P 500 | 0.39 | 0.03 |
| Max drawdown (3Y) | -16.6% | -29.0% |
| Market cap | $28.2B | $79.7B |
| P/E (trailing) | 42.2 | 22.9 |
| Dividend yield | 0.28% | 3.17% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | CASY | MDLZ |
|---|---|---|
| 2022 | +14.5% | +2.9% |
| 2023 | +23.3% | +11.2% |
| 2024 | +45.0% | -15.3% |
| 2025 | +40.1% | -7.0% |
| 2026 | +38.4% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CASY and MDLZ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CASY and MDLZ?
The CASY/MDLZ correlation stands at 0.21 on a 3-year window (1 year: 0.42, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is MDLZ a good diversifier for CASY?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 mean?
A reading of 0.21 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/casy-vs-mdlz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/casy-vs-mdlz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CASY correlations · MDLZ correlations
