CPB vs FLO: Correlation
The Campbell's Company (CPB) and Flowers Foods, Inc. (FLO) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPB and FLO?
Across a 3-year window, the weekly returns of CPB and FLO correlate at 0.48, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.32 versus 0.48 over 3 years. Stretching to 5 years gives 0.51, with an annualized covariance of 318.0 %².
Within CPB's tracked universe of 20 assets, FLO comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CPB ahead by 26.9 points (-22.8% versus -49.7%).
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.
CPB vs FLO: side by side
| CPB (The Campbell's Company) | FLO (Flowers Foods, Inc.) | |
|---|---|---|
| 1-year return | -22.8% | -49.7% |
| 5-year return | -30.8% | -63.2% |
| Volatility (ann.) | 24.5% | 26.8% |
| Beta vs S&P 500 | 0.07 | 0.20 |
| Max drawdown (3Y) | -58.1% | -68.8% |
| Market cap | – | $1.5B |
| P/E (trailing) | 11.4 | 26.8 |
| Dividend yield | 6.72% | 13.81% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CPB | FLO |
|---|---|---|
| 2022 | +34.8% | +8.0% |
| 2023 | -21.5% | -18.6% |
| 2024 | +0.1% | -4.3% |
| 2025 | -30.5% | -43.6% |
| 2026 | -12.2% | -33.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPB and FLO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CPB and FLO?
The CPB/FLO correlation stands at 0.48 on a 3-year window (1 year: 0.32, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is FLO a good diversifier for CPB?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CPB correlations · FLO correlations
