CPB vs MDLZ: Correlation
The Campbell's Company (CPB) and Mondelez International (MDLZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPB and MDLZ?
Across a 3-year window, the weekly returns of CPB and MDLZ correlate at 0.55, moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.55 over 3. Stretching to 5 years gives 0.56, with an annualized covariance of 274.4 %².
Within CPB's tracked universe of 20 assets, MDLZ comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MDLZ ahead by 27.4 points (-22.8% versus +4.6%).
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 MDLZ: side by side
| CPB (The Campbell's Company) | MDLZ (Mondelez International) | |
|---|---|---|
| 1-year return | -22.8% | +4.6% |
| 5-year return | -30.8% | +14.7% |
| Volatility (ann.) | 24.5% | 20.5% |
| Beta vs S&P 500 | 0.07 | 0.03 |
| Max drawdown (3Y) | -58.1% | -29.0% |
| Market cap | – | $79.7B |
| P/E (trailing) | 11.4 | 22.9 |
| Dividend yield | 6.72% | 3.17% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CPB | MDLZ |
|---|---|---|
| 2022 | +34.8% | +2.9% |
| 2023 | -21.5% | +11.2% |
| 2024 | +0.1% | -15.3% |
| 2025 | -30.5% | -7.0% |
| 2026 | -12.2% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPB and MDLZ good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CPB and MDLZ?
As of 2026-08-27, the correlation of weekly returns between CPB and MDLZ is 0.55 over 3 years, 0.53 over 1 year and 0.56 over 5 years.
Is MDLZ a good diversifier for CPB?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
A reading of 0.55 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/cpb-vs-mdlz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cpb-vs-mdlz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CPB correlations · MDLZ correlations
