HSY vs MKC: Correlation
Measured on weekly returns over the past three years, Hershey Company (The) (HSY) and McCormick & Company (MKC) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSY and MKC?
On 3 years of weekly data the HSY/MKC correlation comes out at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. The 5-year figure is 0.44, and annualized covariance runs at 281.9 %².
Within HSY's tracked universe of 30 assets, MKC comes in at #9 by 3-year correlation. The last year tells two different stories: HSY led by 23.1 percentage points, +2.8% for HSY against -20.3% for MKC. Across three years, the rolling one-year figure varied moderately, from 0.21 to 0.57.
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.
HSY vs MKC: side by side
| HSY (Hershey Company (The)) | MKC (McCormick & Company) | |
|---|---|---|
| 1-year return | +2.8% | -20.3% |
| 5-year return | +16.5% | -28.5% |
| Volatility (ann.) | 25.6% | 26.5% |
| Beta vs S&P 500 | 0.03 | 0.24 |
| Max drawdown (3Y) | -31.2% | -44.3% |
| Market cap | $36.4B | $14.7B |
| P/E (trailing) | 25.3 | 9.2 |
| Dividend yield | 3.05% | 3.38% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | HSY | MKC |
|---|---|---|
| 2022 | +21.9% | -12.7% |
| 2023 | -17.9% | -15.7% |
| 2024 | -6.5% | +14.0% |
| 2025 | +11.0% | -8.3% |
| 2026 | +1.9% | -18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSY and MKC good diversifiers for each other?
Reasonably. At 0.42, HSY and MKC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HSY and MKC?
As of 2026-08-27, the correlation of weekly returns between HSY and MKC is 0.42 over 3 years, 0.51 over 1 year and 0.44 over 5 years.
Is MKC a good diversifier for HSY?
Reasonably. At 0.42, HSY and MKC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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/hsy-vs-mkc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hsy-vs-mkc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HSY correlations · MKC correlations
