CWD vs KDP: Correlation
Measured on weekly returns over the past three years, CaliberCos Inc. (CWD) and Keurig Dr Pepper (KDP) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWD and KDP?
On 3 years of weekly data the CWD/KDP correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.19 over 1 year against -0.24 over 3. The 5-year figure is n/a, and annualized covariance runs at -1119.0 %².
KDP is close to the least connected end of CWD's tracked universe, ranking #13 of 16. The last year tells two different stories: KDP led by 77.4 percentage points, -66.5% for CWD against +10.9% for KDP. One caveat on sizing: CWD is 8.2 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.
CWD vs KDP: side by side
| CWD (CaliberCos Inc.) | KDP (Keurig Dr Pepper) | |
|---|---|---|
| 1-year return | -66.5% | +10.9% |
| 5-year return | n/a | +3.1% |
| Volatility (ann.) | 194.6% | 23.6% |
| Beta vs S&P 500 | 1.40 | 0.14 |
| Max drawdown (3Y) | -98.7% | -31.0% |
| Market cap | – | $43.4B |
| P/E (trailing) | – | 32.5 |
| Dividend yield | 0.00% | 2.86% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CWD | KDP |
|---|---|---|
| 2022 | – | -1.2% |
| 2023 | – | -4.2% |
| 2024 | -45.8% | -1.1% |
| 2025 | -91.1% | -10.1% |
| 2026 | -54.0% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWD and KDP good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CWD and KDP?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.19 over the last year and n/a over 5 years.
Is KDP a good diversifier for CWD?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: CWD correlations · KDP correlations
