CL vs PM: Correlation
Measured on weekly returns over the past three years, Colgate-Palmolive (CL) and Philip Morris International (PM) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CL and PM?
Across a 3-year window, the weekly returns of CL and PM correlate at 0.30, moderate. The link has tightened recently: the 1-year correlation (0.41) runs above the 3-year figure (0.30). Stretching to 5 years gives 0.40, with an annualized covariance of 116.1 %².
By 3-year correlation, PM places #27 of the 40 assets tracked against CL. The trailing year gives PM the advantage: +10.4% versus +20.2%, a 9.8-point spread. On a rolling one-year basis the correlation drifted between 0.06 and 0.54, 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 PM: side by side
| CL (Colgate-Palmolive) | PM (Philip Morris International) | |
|---|---|---|
| 1-year return | +10.4% | +20.2% |
| 5-year return | +32.0% | +133.5% |
| Volatility (ann.) | 16.9% | 23.1% |
| Beta vs S&P 500 | 0.17 | -0.01 |
| Max drawdown (3Y) | -29.0% | -20.6% |
| Market cap | $72.5B | $296.9B |
| P/E (trailing) | 36.2 | 26.7 |
| Dividend yield | 2.27% | 3.03% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | CL | PM |
|---|---|---|
| 2022 | -5.4% | +12.3% |
| 2023 | +3.8% | -1.9% |
| 2024 | +16.6% | +34.3% |
| 2025 | -11.0% | +38.0% |
| 2026 | +17.2% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CL and PM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CL and PM?
The CL/PM correlation stands at 0.30 on a 3-year window (1 year: 0.41, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is PM a good diversifier for CL?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 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-pm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cl-vs-pm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CL correlations · PM correlations
