GIS vs PEP: Correlation
General Mills (GIS) and PepsiCo (PEP) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIS and PEP?
Across a 3-year window, the weekly returns of GIS and PEP correlate at 0.46, moderate. The link has loosened recently: the 1-year correlation (0.35) runs below the 3-year figure (0.46). Stretching to 5 years gives 0.54, with an annualized covariance of 180.5 %².
Among the 38 assets we track against GIS, PEP ranks #10 by 3-year correlation. On 12-month performance PEP holds a 11.2-point edge, -12.8% against -1.6%. The rolling one-year correlation moved between 0.35 and 0.67 over the past three years, a moderate range.
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.
GIS vs PEP: side by side
| GIS (General Mills) | PEP (PepsiCo) | |
|---|---|---|
| 1-year return | -12.8% | -1.6% |
| 5-year return | -14.6% | +4.9% |
| Volatility (ann.) | 20.6% | 19.1% |
| Beta vs S&P 500 | -0.05 | 0.13 |
| Max drawdown (3Y) | -53.4% | -27.5% |
| Market cap | $21.6B | $190.9B |
| P/E (trailing) | – | 18.6 |
| Dividend yield | 6.09% | 4.04% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | GIS | PEP |
|---|---|---|
| 2022 | +28.1% | +6.8% |
| 2023 | -20.0% | -3.3% |
| 2024 | +1.4% | -7.6% |
| 2025 | -23.7% | -1.8% |
| 2026 | -8.8% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIS and PEP good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GIS and PEP?
As of 2026-08-27, the correlation of weekly returns between GIS and PEP is 0.46 over 3 years, 0.35 over 1 year and 0.54 over 5 years.
Is PEP a good diversifier for GIS?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gis-vs-pep.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gis-vs-pep/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GIS correlations · PEP correlations
