HRL vs MDLZ: Correlation
How closely do Hormel Foods (HRL) and Mondelez International (MDLZ) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRL and MDLZ?
Across a 3-year window, the weekly returns of HRL and MDLZ correlate at 0.33, moderate. Recent behaviour matches the longer record: 0.27 over 1 year against 0.33 over 3. Stretching to 5 years gives 0.39, with an annualized covariance of 176.4 %².
By 3-year correlation, MDLZ places #19 of the 35 assets tracked against HRL. Their recent paths diverged sharply: over the last 12 months MDLZ outperformed by 27.4 percentage points (-22.8% for HRL against +4.6% for MDLZ). Across three years, the rolling one-year figure varied moderately, from 0.24 to 0.49.
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.
HRL vs MDLZ: side by side
| HRL (Hormel Foods) | MDLZ (Mondelez International) | |
|---|---|---|
| 1-year return | -22.8% | +4.6% |
| 5-year return | -44.3% | +14.7% |
| Volatility (ann.) | 26.1% | 20.5% |
| Beta vs S&P 500 | 0.07 | 0.03 |
| Max drawdown (3Y) | -44.5% | -29.0% |
| Market cap | – | $79.7B |
| P/E (trailing) | 28.0 | 22.9 |
| Dividend yield | 0.00% | 3.17% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | HRL | MDLZ |
|---|---|---|
| 2022 | -4.7% | +2.9% |
| 2023 | -27.5% | +11.2% |
| 2024 | +1.2% | -15.3% |
| 2025 | -21.3% | -7.0% |
| 2026 | -6.7% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRL and MDLZ good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HRL and MDLZ?
As of 2026-08-27, the correlation of weekly returns between HRL and MDLZ is 0.33 over 3 years, 0.27 over 1 year and 0.39 over 5 years.
Is MDLZ a good diversifier for HRL?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
A reading of 0.33 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/hrl-vs-mdlz.json
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Related comparisons
Hubs: HRL correlations · MDLZ correlations
