COKE vs ZTR: Correlation
Coca-Cola Consolidated, Inc. (COKE) and Virtus Total Return Fund Inc. (ZTR) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COKE and ZTR?
Over the past 3 years, COKE and ZTR moved with a correlation of 0.34, which is moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 164.0 %².
Among the 10 assets we track against COKE, ZTR ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with COKE ahead by 48.8 points (+66.8% versus +18.0%). One caveat on sizing: COKE is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 ZTR: side by side
| COKE (Coca-Cola Consolidated, Inc.) | ZTR (Virtus Total Return Fund Inc.) | |
|---|---|---|
| 1-year return | +66.8% | +18.0% |
| 5-year return | +408.3% | +27.0% |
| Volatility (ann.) | 34.3% | 14.0% |
| Beta vs S&P 500 | 0.28 | 0.40 |
| Max drawdown (3Y) | -27.4% | -18.3% |
| Market cap | $13.0B | $0.3B |
| P/E (trailing) | 25.8 | 5.7 |
| Dividend yield | 0.52% | 8.75% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COKE | ZTR |
|---|---|---|
| 2022 | -17.1% | -21.3% |
| 2023 | +82.9% | -3.2% |
| 2024 | +38.7% | +18.3% |
| 2025 | +22.6% | +18.6% |
| 2026 | +27.5% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COKE and ZTR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between COKE and ZTR?
The COKE/ZTR correlation stands at 0.34 on a 3-year window (1 year: 0.37, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is ZTR a good diversifier for COKE?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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: COKE correlations · ZTR correlations
