CASY vs PEP: Correlation
How closely do Casey's (CASY) and PepsiCo (PEP) trade together? Their weekly returns over three years give a correlation of 0.20, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CASY and PEP?
Over the past 3 years, CASY and PEP moved with a correlation of 0.20, which is weak. Recent behaviour matches the longer record: 0.29 over 1 year against 0.20 over 3. Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 112.1 %².
Among the 30 assets we track against CASY, PEP ranks #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CASY ahead by 55.3 points (+53.7% versus -1.6%). The rolling one-year correlation moved between -0.03 and 0.32 over the past three years, a moderate range. Risk is not evenly split, since CASY carries 1.5 times the volatility of the other side.
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 PEP: side by side
| CASY (Casey's) | PEP (PepsiCo) | |
|---|---|---|
| 1-year return | +53.7% | -1.6% |
| 5-year return | +284.3% | +4.9% |
| Volatility (ann.) | 28.9% | 19.1% |
| Beta vs S&P 500 | 0.39 | 0.13 |
| Max drawdown (3Y) | -16.6% | -27.5% |
| Market cap | $28.2B | $190.9B |
| P/E (trailing) | 42.2 | 18.6 |
| Dividend yield | 0.28% | 4.04% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | CASY | PEP |
|---|---|---|
| 2022 | +14.5% | +6.8% |
| 2023 | +23.3% | -3.3% |
| 2024 | +45.0% | -7.6% |
| 2025 | +40.1% | -1.8% |
| 2026 | +38.4% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CASY and PEP good diversifiers for each other?
Reasonably. At 0.20, CASY and PEP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CASY and PEP?
The CASY/PEP correlation stands at 0.20 on a 3-year window (1 year: 0.29, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is PEP a good diversifier for CASY?
Reasonably. At 0.20, CASY and PEP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.20 mean?
A reading of 0.20 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-pep.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/casy-vs-pep/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CASY correlations · PEP correlations
