COKE vs FRPT: Correlation
How closely do Coca-Cola Consolidated, Inc. (COKE) and Freshpet, Inc. (FRPT) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COKE and FRPT?
Across a 3-year window, the weekly returns of COKE and FRPT correlate at 0.38, moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Stretching to 5 years gives 0.24, with an annualized covariance of 603.3 %².
Few assets follow COKE as closely as FRPT, which ranks #2 of 10 tracked partners. The last year tells two different stories: COKE led by 40.1 percentage points, +66.8% for COKE against +26.7% for FRPT.
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.
COKE vs FRPT: side by side
| COKE (Coca-Cola Consolidated, Inc.) | FRPT (Freshpet, Inc.) | |
|---|---|---|
| 1-year return | +66.8% | +26.7% |
| 5-year return | +408.3% | -42.7% |
| Volatility (ann.) | 34.3% | 45.9% |
| Beta vs S&P 500 | 0.28 | 1.15 |
| Max drawdown (3Y) | -27.4% | -70.9% |
| Market cap | $13.0B | $3.5B |
| P/E (trailing) | 25.8 | 19.4 |
| Dividend yield | 0.52% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COKE | FRPT |
|---|---|---|
| 2022 | -17.1% | -44.6% |
| 2023 | +82.9% | +64.4% |
| 2024 | +38.7% | +70.7% |
| 2025 | +22.6% | -58.9% |
| 2026 | +27.5% | +19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COKE and FRPT 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 COKE and FRPT?
The COKE/FRPT correlation stands at 0.38 on a 3-year window (1 year: 0.47, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is FRPT a good diversifier for COKE?
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?
A reading of 0.38 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/coke-vs-frpt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/coke-vs-frpt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COKE correlations · FRPT correlations
