CWT vs KDP: Correlation
California Water Service Group (CWT) and Keurig Dr Pepper (KDP) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWT and KDP?
On 3 years of weekly data the CWT/KDP correlation comes out at 0.35, moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.35). The 5-year figure is 0.36, and annualized covariance runs at 183.9 %².
Within CWT's tracked universe of 15 assets, KDP comes in at #9 by 3-year correlation. Their 12-month results are close: +9.3% for CWT against +10.9% for KDP.
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.
CWT vs KDP: side by side
| CWT (California Water Service Group) | KDP (Keurig Dr Pepper) | |
|---|---|---|
| 1-year return | +9.3% | +10.9% |
| 5-year return | -12.2% | +3.1% |
| Volatility (ann.) | 22.3% | 23.6% |
| Beta vs S&P 500 | 0.10 | 0.14 |
| Max drawdown (3Y) | -24.1% | -31.0% |
| Market cap | $3.1B | $43.4B |
| P/E (trailing) | 22.6 | 32.5 |
| Dividend yield | 2.53% | 2.86% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CWT | KDP |
|---|---|---|
| 2022 | -14.1% | -1.2% |
| 2023 | -12.8% | -4.2% |
| 2024 | -10.6% | -1.1% |
| 2025 | -1.8% | -10.1% |
| 2026 | +18.2% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWT and KDP good diversifiers for each other?
Reasonably. At 0.35, CWT and KDP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CWT and KDP?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.21 over the last year and 0.36 over 5 years.
Is KDP a good diversifier for CWT?
Reasonably. At 0.35, CWT and KDP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 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: CWT correlations · KDP correlations
