CL vs MNST: Correlation
Measured on weekly returns over the past three years, Colgate-Palmolive (CL) and Monster Beverage (MNST) carry a correlation of 0.19, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CL and MNST?
Over the past 3 years, CL and MNST moved with a correlation of 0.19, which is weak. Little has changed lately, as the 1-year reading of 0.18 lands near the 3-year figure. Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 220.1 %².
By 3-year correlation, MNST places #28 of the 40 assets tracked against CL. Their recent paths diverged sharply: over the last 12 months CL outperformed by 34.7 percentage points (+10.4% for CL against -24.3% for MNST). The rolling one-year correlation moved between 0.15 and 0.53 over the past three years, a moderate range. Note the risk asymmetry: MNST runs 4.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 MNST: side by side
| CL (Colgate-Palmolive) | MNST (Monster Beverage) | |
|---|---|---|
| 1-year return | +10.4% | -24.3% |
| 5-year return | +32.0% | -4.5% |
| Volatility (ann.) | 16.9% | 68.6% |
| Beta vs S&P 500 | 0.17 | 0.80 |
| Max drawdown (3Y) | -29.0% | -54.5% |
| Market cap | $72.5B | $91.5B |
| P/E (trailing) | 36.2 | 43.2 |
| Dividend yield | 2.27% | 0.00% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | CL | MNST |
|---|---|---|
| 2022 | -5.4% | +5.7% |
| 2023 | +3.8% | +13.5% |
| 2024 | +16.6% | -8.8% |
| 2025 | -11.0% | +45.9% |
| 2026 | +17.2% | -39.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CL and MNST good diversifiers for each other?
Yes. With a correlation of 0.19, CL and MNST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CL and MNST?
Using weekly returns as of 2026-08-27: 0.19 over 3 years, with 0.18 over the last year and 0.20 over 5 years.
Is MNST a good diversifier for CL?
Yes. With a correlation of 0.19, CL and MNST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.19 mean?
On the −1 to +1 scale, 0.19 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cl-vs-mnst.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cl-vs-mnst/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CL correlations · MNST correlations
