CPB vs KHC: Correlation
The Campbell's Company (CPB) and Kraft Heinz (KHC) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPB and KHC?
On 3 years of weekly data the CPB/KHC correlation comes out at 0.63, strong. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 336.1 %².
KHC is one of the assets that tracks CPB most closely: it ranks #3 out of the 20 assets we track against CPB. Their recent paths diverged sharply: over the last 12 months KHC outperformed by 18.9 percentage points (-22.8% for CPB against -3.9% for KHC).
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 KHC: side by side
| CPB (The Campbell's Company) | KHC (Kraft Heinz) | |
|---|---|---|
| 1-year return | -22.8% | -3.9% |
| 5-year return | -30.8% | -10.9% |
| Volatility (ann.) | 24.5% | 21.7% |
| Beta vs S&P 500 | 0.07 | 0.12 |
| Max drawdown (3Y) | -58.1% | -38.7% |
| Market cap | – | $29.8B |
| P/E (trailing) | 11.4 | – |
| Dividend yield | 6.72% | 6.45% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CPB | KHC |
|---|---|---|
| 2022 | +34.8% | +18.2% |
| 2023 | -21.5% | -5.0% |
| 2024 | +0.1% | -13.0% |
| 2025 | -30.5% | -16.3% |
| 2026 | -12.2% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPB and KHC good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CPB and KHC?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.56 over the last year and 0.66 over 5 years.
Is KHC a good diversifier for CPB?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/cpb-vs-khc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cpb-vs-khc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CPB correlations · KHC correlations
