KDP vs MDLZ: Correlation
Measured on weekly returns over the past three years, Keurig Dr Pepper (KDP) and Mondelez International (MDLZ) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KDP and MDLZ?
Over the past 3 years, KDP and MDLZ moved with a correlation of 0.41, which is moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 197.4 %².
By 3-year correlation, MDLZ places #7 of the 30 assets tracked against KDP. The trailing year gives KDP the advantage: +10.9% versus +4.6%, a 6.3-point spread. Across three years, the rolling one-year figure varied moderately, from 0.21 to 0.61.
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.
KDP vs MDLZ: side by side
| KDP (Keurig Dr Pepper) | MDLZ (Mondelez International) | |
|---|---|---|
| 1-year return | +10.9% | +4.6% |
| 5-year return | +3.1% | +14.7% |
| Volatility (ann.) | 23.6% | 20.5% |
| Beta vs S&P 500 | 0.14 | 0.03 |
| Max drawdown (3Y) | -31.0% | -29.0% |
| Market cap | $43.4B | $79.7B |
| P/E (trailing) | 32.5 | 22.9 |
| Dividend yield | 2.86% | 3.17% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | KDP | MDLZ |
|---|---|---|
| 2022 | -1.2% | +2.9% |
| 2023 | -4.2% | +11.2% |
| 2024 | -1.1% | -15.3% |
| 2025 | -10.1% | -7.0% |
| 2026 | +16.6% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KDP and MDLZ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KDP and MDLZ?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.31 over the last year and 0.43 over 5 years.
Is MDLZ a good diversifier for KDP?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 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/kdp-vs-mdlz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kdp-vs-mdlz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KDP correlations · MDLZ correlations
