CL vs MO: Correlation
Colgate-Palmolive (CL) and Altria (MO) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CL and MO?
Over the past 3 years, CL and MO moved with a correlation of 0.35, which is moderate. Recent behaviour matches the longer record: 0.32 over 1 year against 0.35 over 3. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 128.6 %².
Among the 40 assets we track against CL, MO ranks #24 by 3-year correlation. Their 12-month results are close: +10.4% for CL against +8.8% for MO. Across three years, the rolling one-year figure varied moderately, from 0.26 to 0.60.
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 MO: side by side
| CL (Colgate-Palmolive) | MO (Altria) | |
|---|---|---|
| 1-year return | +10.4% | +8.8% |
| 5-year return | +32.0% | +100.4% |
| Volatility (ann.) | 16.9% | 21.8% |
| Beta vs S&P 500 | 0.17 | -0.07 |
| Max drawdown (3Y) | -29.0% | -16.4% |
| Market cap | $72.5B | $113.0B |
| P/E (trailing) | 36.2 | 14.6 |
| Dividend yield | 2.27% | 6.13% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | CL | MO |
|---|---|---|
| 2022 | -5.4% | +4.4% |
| 2023 | +3.8% | -3.7% |
| 2024 | +16.6% | +40.8% |
| 2025 | -11.0% | +18.2% |
| 2026 | +17.2% | +21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CL and MO good diversifiers for each other?
Reasonably. At 0.35, CL and MO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CL and MO?
The CL/MO correlation stands at 0.35 on a 3-year window (1 year: 0.32, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is MO a good diversifier for CL?
Reasonably. At 0.35, CL and MO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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.
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Related comparisons
Hubs: CL correlations · MO correlations
