CL vs SJM: Correlation
Measured on weekly returns over the past three years, Colgate-Palmolive (CL) and J.M. Smucker Company (The) (SJM) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CL and SJM?
Across a 3-year window, the weekly returns of CL and SJM correlate at 0.46, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Stretching to 5 years gives 0.48, with an annualized covariance of 203.0 %².
By 3-year correlation, SJM places #17 of the 40 assets tracked against CL. The last year tells two different stories: SJM led by 19.5 percentage points, +10.4% for CL against +29.9% for SJM. Across three years, the rolling one-year figure varied moderately, from 0.24 to 0.60. Note the risk asymmetry: SJM runs 1.5 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 SJM: side by side
| CL (Colgate-Palmolive) | SJM (J.M. Smucker Company (The)) | |
|---|---|---|
| 1-year return | +10.4% | +29.9% |
| 5-year return | +32.0% | +28.2% |
| Volatility (ann.) | 16.9% | 26.0% |
| Beta vs S&P 500 | 0.17 | 0.21 |
| Max drawdown (3Y) | -29.0% | -32.5% |
| Market cap | $72.5B | $14.1B |
| P/E (trailing) | 36.2 | 61.3 |
| Dividend yield | 2.27% | 3.38% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | CL | SJM |
|---|---|---|
| 2022 | -5.4% | +20.1% |
| 2023 | +3.8% | -17.8% |
| 2024 | +16.6% | -9.6% |
| 2025 | -11.0% | -7.6% |
| 2026 | +17.2% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CL and SJM good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CL and SJM?
The CL/SJM correlation stands at 0.46 on a 3-year window (1 year: 0.52, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is SJM a good diversifier for CL?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 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-sjm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cl-vs-sjm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CL correlations · SJM correlations
