CL vs KO: Correlation
Colgate-Palmolive (CL) and Coca-Cola Company (The) (KO) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CL and KO?
On 3 years of weekly data the CL/KO correlation comes out at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 142.0 %².
By 3-year correlation, KO places #6 of the 40 assets tracked against CL. Correlation aside, the last 12 months split them widely, with KO ahead by 22.7 points (+10.4% versus +33.1%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.46 and 0.71.
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 KO: side by side
| CL (Colgate-Palmolive) | KO (Coca-Cola Company (The)) | |
|---|---|---|
| 1-year return | +10.4% | +33.1% |
| 5-year return | +32.0% | +83.8% |
| Volatility (ann.) | 16.9% | 15.4% |
| Beta vs S&P 500 | 0.17 | 0.11 |
| Max drawdown (3Y) | -29.0% | -15.5% |
| Market cap | $72.5B | $383.2B |
| P/E (trailing) | 36.2 | 27.0 |
| Dividend yield | 2.27% | 2.31% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | CL | KO |
|---|---|---|
| 2022 | -5.4% | +10.6% |
| 2023 | +3.8% | -4.4% |
| 2024 | +16.6% | +8.9% |
| 2025 | -11.0% | +15.6% |
| 2026 | +17.2% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CL and KO good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CL and KO?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.50 over the last year and 0.61 over 5 years.
Is KO a good diversifier for CL?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cl-vs-ko.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cl-vs-ko/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CL correlations · KO correlations
