CL vs STZ: Correlation
Colgate-Palmolive (CL) and Constellation Brands (STZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CL and STZ?
On 3 years of weekly data the CL/STZ correlation comes out at 0.38, moderate. The past 12 months show a weaker link (0.16) than the 3-year average (0.38). The 5-year figure is 0.37, and annualized covariance runs at 171.7 %².
By 3-year correlation, STZ places #22 of the 40 assets tracked against CL. Correlation aside, the last 12 months split them widely, with CL ahead by 26.1 points (+10.4% versus -15.7%). On a rolling one-year basis the correlation drifted between 0.17 and 0.57, a moderate band. Note the risk asymmetry: STZ runs 1.6 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 STZ: side by side
| CL (Colgate-Palmolive) | STZ (Constellation Brands) | |
|---|---|---|
| 1-year return | +10.4% | -15.7% |
| 5-year return | +32.0% | -31.9% |
| Volatility (ann.) | 16.9% | 26.6% |
| Beta vs S&P 500 | 0.17 | 0.41 |
| Max drawdown (3Y) | -29.0% | -51.3% |
| Market cap | $72.5B | $22.4B |
| P/E (trailing) | 36.2 | 12.8 |
| Dividend yield | 2.27% | 3.04% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | CL | STZ |
|---|---|---|
| 2022 | -5.4% | -6.4% |
| 2023 | +3.8% | +5.8% |
| 2024 | +16.6% | -7.1% |
| 2025 | -11.0% | -36.0% |
| 2026 | +17.2% | -2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CL and STZ good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CL and STZ?
As of 2026-08-27, the correlation of weekly returns between CL and STZ is 0.38 over 3 years, 0.16 over 1 year and 0.37 over 5 years.
Is STZ a good diversifier for CL?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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-stz.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cl-vs-stz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CL correlations · STZ correlations
