JNJ vs KO: Correlation
Johnson & Johnson (JNJ) and Coca-Cola Company (The) (KO) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JNJ and KO?
On 3 years of weekly data the JNJ/KO correlation comes out at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 139.9 %².
By 3-year correlation, KO places #17 of the 48 assets tracked against JNJ. Their recent paths diverged sharply: over the last 12 months JNJ outperformed by 20.6 percentage points (+53.7% for JNJ against +33.1% for KO). On a rolling one-year basis the correlation drifted between 0.38 and 0.64, a moderate band.
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.
JNJ vs KO: side by side
| JNJ (Johnson & Johnson) | KO (Coca-Cola Company (The)) | |
|---|---|---|
| 1-year return | +53.7% | +33.1% |
| 5-year return | +76.0% | +83.8% |
| Volatility (ann.) | 18.5% | 15.4% |
| Beta vs S&P 500 | 0.05 | 0.11 |
| Max drawdown (3Y) | -14.4% | -15.5% |
| Market cap | $640.5B | $383.2B |
| P/E (trailing) | 30.9 | 27.0 |
| Dividend yield | 1.94% | 2.31% |
| Sector / category | Health Care | Consumer Staples |
Year-by-year returns
| Year | JNJ | KO |
|---|---|---|
| 2022 | +6.0% | +10.6% |
| 2023 | -8.6% | -4.4% |
| 2024 | -4.8% | +8.9% |
| 2025 | +47.5% | +15.6% |
| 2026 | +30.5% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JNJ and KO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between JNJ and KO?
The JNJ/KO correlation stands at 0.49 on a 3-year window (1 year: 0.52, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is KO a good diversifier for JNJ?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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/jnj-vs-ko.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/jnj-vs-ko/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JNJ correlations · KO correlations
