CL vs KHC: Correlation
How closely do Colgate-Palmolive (CL) and Kraft Heinz (KHC) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CL and KHC?
Across a 3-year window, the weekly returns of CL and KHC correlate at 0.48, moderate. The link has loosened recently: the 1-year correlation (0.37) runs below the 3-year figure (0.48). Stretching to 5 years gives 0.49, with an annualized covariance of 175.5 %².
By 3-year correlation, KHC places #14 of the 40 assets tracked against CL. The trailing year gives CL the advantage: +10.4% versus -3.9%, a 14.3-point spread. On a rolling one-year basis the correlation drifted between 0.30 and 0.69, a moderate band.
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.
CL vs KHC: side by side
| CL (Colgate-Palmolive) | KHC (Kraft Heinz) | |
|---|---|---|
| 1-year return | +10.4% | -3.9% |
| 5-year return | +32.0% | -10.9% |
| Volatility (ann.) | 16.9% | 21.7% |
| Beta vs S&P 500 | 0.17 | 0.12 |
| Max drawdown (3Y) | -29.0% | -38.7% |
| Market cap | $72.5B | $29.8B |
| P/E (trailing) | 36.2 | – |
| Dividend yield | 2.27% | 6.45% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | CL | KHC |
|---|---|---|
| 2022 | -5.4% | +18.2% |
| 2023 | +3.8% | -5.0% |
| 2024 | +16.6% | -13.0% |
| 2025 | -11.0% | -16.3% |
| 2026 | +17.2% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CL and KHC good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CL and KHC?
As of 2026-08-27, the correlation of weekly returns between CL and KHC is 0.48 over 3 years, 0.37 over 1 year and 0.49 over 5 years.
Is KHC a good diversifier for CL?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
A reading of 0.48 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/cl-vs-khc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cl-vs-khc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CL correlations · KHC correlations
